NexPoint Residential Trust, Inc. (NYSE:NXRT) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its holdings in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT – Get Rating) by 36.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,305 shares of the financial services provider’s stock after selling 748 shares during the quarter. Van ECK Associates Corp’s holdings in NexPoint Residential Trust were worth $60,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in NexPoint Residential Trust by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 2,721,010 shares of the financial services provider’s stock valued at $245,735,000 after purchasing an additional 66,684 shares in the last quarter. State Street Corp grew its stake in NexPoint Residential Trust by 1.9% during the 2nd quarter. State Street Corp now owns 1,389,586 shares of the financial services provider’s stock valued at $86,863,000 after purchasing an additional 25,510 shares in the last quarter. Copeland Capital Management LLC grew its stake in NexPoint Residential Trust by 9.8% during the 3rd quarter. Copeland Capital Management LLC now owns 749,402 shares of the financial services provider’s stock valued at $34,630,000 after purchasing an additional 66,825 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in NexPoint Residential Trust by 6.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 732,549 shares of the financial services provider’s stock valued at $45,792,000 after purchasing an additional 42,027 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in NexPoint Residential Trust by 8.8% during the 2nd quarter. Renaissance Technologies LLC now owns 422,313 shares of the financial services provider’s stock valued at $26,399,000 after purchasing an additional 34,100 shares in the last quarter. Institutional investors and hedge funds own 77.28% of the company’s stock.

NexPoint Residential Trust Trading Up 1.7 %

Shares of NYSE NXRT opened at $45.57 on Friday. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 45.57, a price-to-earnings-growth ratio of 1.72 and a beta of 1.03. NexPoint Residential Trust, Inc. has a 12-month low of $38.67 and a 12-month high of $95.04. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 3.17. The stock’s 50 day simple moving average is $45.12 and its 200 day simple moving average is $50.26.

NexPoint Residential Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 15th were issued a $0.42 dividend. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.38. The ex-dividend date was Wednesday, December 14th. This represents a $1.68 annualized dividend and a dividend yield of 3.69%. NexPoint Residential Trust’s dividend payout ratio (DPR) is 168.00%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NXRT shares. Credit Suisse Group lowered NexPoint Residential Trust from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research note on Monday, January 9th. StockNews.com lowered NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research report on Friday, January 13th. Jefferies Financial Group lowered NexPoint Residential Trust from a “buy” rating to a “hold” rating and decreased their target price for the stock from $78.00 to $45.00 in a research report on Wednesday, October 19th. Finally, Truist Financial decreased their target price on NexPoint Residential Trust from $66.00 to $48.00 and set a “hold” rating for the company in a research report on Tuesday, November 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NexPoint Residential Trust has an average rating of “Hold” and an average price target of $65.83.

Insider Buying and Selling

In related news, General Counsel Dennis Charles Sauter, Jr. purchased 2,223 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The shares were acquired at an average price of $44.57 per share, with a total value of $99,079.11. Following the acquisition, the general counsel now owns 5,795 shares in the company, valued at approximately $258,283.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 12.69% of the company’s stock.

About NexPoint Residential Trust

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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.