Legal & General Group Plc Decreases Stock Holdings in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Legal & General Group Plc cut its holdings in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 10.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 151,380 shares of the financial services provider’s stock after selling 17,950 shares during the quarter. Legal & General Group Plc’s holdings in NexPoint Residential Trust were worth $6,320,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Jane Street Group LLC grew its stake in shares of NexPoint Residential Trust by 160.3% in the 3rd quarter. Jane Street Group LLC now owns 58,040 shares of the financial services provider’s stock worth $2,554,000 after buying an additional 35,741 shares in the last quarter. Geode Capital Management LLC grew its position in NexPoint Residential Trust by 0.5% in the third quarter. Geode Capital Management LLC now owns 576,084 shares of the financial services provider’s stock worth $25,358,000 after acquiring an additional 2,740 shares in the last quarter. Tidal Investments LLC purchased a new position in NexPoint Residential Trust in the third quarter worth about $1,166,000. Franklin Resources Inc. increased its stake in NexPoint Residential Trust by 164.0% during the third quarter. Franklin Resources Inc. now owns 34,865 shares of the financial services provider’s stock worth $1,506,000 after acquiring an additional 21,660 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of NexPoint Residential Trust by 16.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 117,090 shares of the financial services provider’s stock valued at $5,153,000 after purchasing an additional 16,746 shares during the last quarter. Institutional investors own 76.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NXRT. Raymond James cut their target price on NexPoint Residential Trust from $50.00 to $44.00 and set an “outperform” rating on the stock in a research report on Thursday, March 20th. StockNews.com downgraded shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. Jefferies Financial Group lifted their price target on shares of NexPoint Residential Trust from $41.00 to $43.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. Finally, Truist Financial increased their price objective on shares of NexPoint Residential Trust from $41.00 to $42.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.33.

Insiders Place Their Bets

In other news, insider Paul Richards bought 5,814 shares of the stock in a transaction on Monday, April 7th. The stock was acquired at an average cost of $33.24 per share, for a total transaction of $193,257.36. Following the acquisition, the insider now owns 18,493 shares of the company’s stock, valued at $614,707.32. This represents a 45.86 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.96% of the company’s stock.

NexPoint Residential Trust Stock Up 2.2 %

Shares of NXRT opened at $36.41 on Friday. The firm has a fifty day moving average price of $38.47 and a 200-day moving average price of $41.25. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 3.25. The firm has a market capitalization of $929.67 million, a P/E ratio of 20.81, a P/E/G ratio of 2.34 and a beta of 1.18. NexPoint Residential Trust, Inc. has a 12-month low of $30.98 and a 12-month high of $48.37.

NexPoint Residential Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.51 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 5.60%. NexPoint Residential Trust’s dividend payout ratio (DPR) is -20,400.00%.

About NexPoint Residential Trust

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.