Brian Mitts Sells 5,000 Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) Stock

NexPoint Residential Trust, Inc. (NYSE:NXRT) insider Brian Mitts sold 5,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $34.25, for a total transaction of $171,250.00. Following the completion of the transaction, the insider now directly owns 66,947 shares in the company, valued at $2,292,934.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

NexPoint Residential Trust Trading Down 1.5 %

Shares of NXRT stock opened at $34.84 on Wednesday. The stock has a market cap of $897.83 million, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 1.05 and a beta of 1.25. NexPoint Residential Trust, Inc. has a 1 year low of $26.21 and a 1 year high of $49.87. The company has a current ratio of 2.66, a quick ratio of 1.59 and a debt-to-equity ratio of 2.90. The stock has a 50 day simple moving average of $31.60 and a 200 day simple moving average of $31.52.

NexPoint Residential Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.4624 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.31%. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, June 14th. NexPoint Residential Trust’s dividend payout ratio is presently 65.37%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NXRT. SRS Capital Advisors Inc. grew its stake in NexPoint Residential Trust by 176.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 903 shares of the financial services provider’s stock worth $31,000 after buying an additional 576 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of NexPoint Residential Trust by 19.7% during the 4th quarter. Van ECK Associates Corp now owns 3,163 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 520 shares during the period. Quest Partners LLC acquired a new stake in shares of NexPoint Residential Trust during the 4th quarter worth approximately $140,000. Daiwa Securities Group Inc. boosted its position in shares of NexPoint Residential Trust by 8.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 7,436 shares of the financial services provider’s stock worth $239,000 after acquiring an additional 610 shares in the last quarter. Finally, Jump Financial LLC bought a new position in NexPoint Residential Trust in the third quarter valued at approximately $241,000. Institutional investors own 76.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on NXRT. JMP Securities reissued a “market outperform” rating and issued a $40.00 price target on shares of NexPoint Residential Trust in a report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft began coverage on NexPoint Residential Trust in a report on Tuesday, January 30th. They set a “buy” rating and a $38.00 price target for the company. Raymond James lowered NexPoint Residential Trust from a “market perform” rating to an “underperform” rating in a report on Monday, March 18th. Finally, Truist Financial dropped their target price on NexPoint Residential Trust from $37.00 to $35.00 and set a “hold” rating for the company in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $37.25.

NexPoint Residential Trust Company Profile

NexPoint Residential Trust is a publicly traded REIT, with its shares listed on the New York Stock Exchange under the symbol "NXRT," primarily focused on acquiring, owning and operating well-located middle-income multifamily properties with "value-add" potential in large cities and suburban submarkets of large cities, primarily in the Southeastern and Southwestern United States.