Norges Bank Invests $1.13 Million in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Norges Bank acquired a new position in NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 27,000 shares of the financial services provider's stock, valued at approximately $1,127,000. Norges Bank owned about 0.11% of NexPoint Residential Trust as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of NXRT. Smartleaf Asset Management LLC lifted its holdings in shares of NexPoint Residential Trust by 104.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 894 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 456 shares during the last quarter. Van ECK Associates Corp raised its position in shares of NexPoint Residential Trust by 8.6% during the 4th quarter. Van ECK Associates Corp now owns 4,237 shares of the financial services provider's stock valued at $177,000 after purchasing an additional 336 shares during the period. KLP Kapitalforvaltning AS bought a new position in NexPoint Residential Trust in the 4th quarter worth approximately $211,000. abrdn plc grew its position in shares of NexPoint Residential Trust by 30.6% during the fourth quarter. abrdn plc now owns 6,068 shares of the financial services provider's stock valued at $251,000 after purchasing an additional 1,423 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of NexPoint Residential Trust by 4.1% in the 3rd quarter. Quantinno Capital Management LP now owns 6,059 shares of the financial services provider's stock valued at $267,000 after acquiring an additional 240 shares during the last quarter. 76.61% of the stock is owned by hedge funds and other institutional investors.

NexPoint Residential Trust Stock Up 2.6 %

Shares of NXRT stock traded up $0.92 during trading hours on Thursday, reaching $36.53. The company had a trading volume of 20,870 shares, compared to its average volume of 132,519. The company has a market capitalization of $932.76 million, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 2.34 and a beta of 1.18. The stock's fifty day simple moving average is $38.63 and its 200 day simple moving average is $41.36. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.79 and a current ratio of 1.79. NexPoint Residential Trust, Inc. has a twelve month low of $30.78 and a twelve month high of $48.37.

NexPoint Residential Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.51 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 5.58%. NexPoint Residential Trust's payout ratio is currently -20,400.00%.

Analyst Upgrades and Downgrades

NXRT has been the topic of a number of recent research reports. Jefferies Financial Group increased their price objective on shares of NexPoint Residential Trust from $41.00 to $43.00 and gave the company a "hold" rating in a research note on Monday, March 10th. StockNews.com cut NexPoint Residential Trust from a "hold" rating to a "sell" rating in a report on Saturday, March 1st. Raymond James lowered their price target 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. Finally, Truist Financial upped their target price on shares of NexPoint Residential Trust from $41.00 to $42.00 and gave the stock a "hold" rating in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, NexPoint Residential Trust presently has a consensus rating of "Hold" and an average target price of $46.33.

Insider Activity at NexPoint Residential Trust

In related news, insider Paul Richards purchased 5,814 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average price of $33.24 per share, with a total value of $193,257.36. Following the purchase, the insider now owns 18,493 shares of the company's stock, valued at $614,707.32. This trade represents a 45.86 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 12.96% of the stock is currently owned by insiders.

NexPoint Residential Trust 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.