BROOKFIELD Corp ON Acquires New Position in NexPoint Residential Trust, Inc. (NYSE:NXRT)

BROOKFIELD Corp ON purchased a new position in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 92,523 shares of the financial services provider's stock, valued at approximately $3,863,000. BROOKFIELD Corp ON owned 0.36% of NexPoint Residential Trust at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nexpoint Asset Management L.P. lifted its position in shares of NexPoint Residential Trust by 100.0% during the 4th quarter. Nexpoint Asset Management L.P. now owns 1,562,753 shares of the financial services provider's stock valued at $65,245,000 after buying an additional 781,266 shares during the last quarter. Northern Trust Corp boosted its holdings in NexPoint Residential Trust by 18.6% in the 4th quarter. Northern Trust Corp now owns 435,981 shares of the financial services provider's stock valued at $18,202,000 after purchasing an additional 68,471 shares during the period. First Trust Advisors LP bought a new stake in NexPoint Residential Trust during the fourth quarter valued at $2,590,000. Barclays PLC boosted its position in shares of NexPoint Residential Trust by 80.3% during the 4th quarter. Barclays PLC now owns 120,467 shares of the financial services provider's stock valued at $5,028,000 after acquiring an additional 53,636 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in NexPoint Residential Trust by 87.1% in the 4th quarter. Bank of America Corp DE now owns 102,499 shares of the financial services provider's stock worth $4,279,000 after buying an additional 47,714 shares in the last quarter. Hedge funds and other institutional investors own 76.61% of the company's stock.

NexPoint Residential Trust Stock Performance

NYSE:NXRT traded up $0.08 during mid-day trading on Friday, reaching $37.23. The company's stock had a trading volume of 100,848 shares, compared to its average volume of 131,709. 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 stock has a market cap of $941.36 million, a P/E ratio of 21.27, a PEG ratio of 2.34 and a beta of 1.14. The firm's fifty day moving average price is $37.62 and its two-hundred day moving average price is $40.68. NexPoint Residential Trust, Inc. has a 12-month low of $30.98 and a 12-month high of $48.37.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.06. NexPoint Residential Trust had a net margin of 17.54% and a return on equity of 9.54%. The firm had revenue of $63.22 million during the quarter, compared to analysts' expectations of $63.29 million. On average, equities analysts forecast that NexPoint Residential Trust, Inc. will post 2.86 EPS for the current fiscal year.

NexPoint Residential Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 5.48%. The ex-dividend date of this dividend is Monday, June 16th. NexPoint Residential Trust's payout ratio is currently -159.37%.

Wall Street Analysts Forecast Growth

NXRT has been the topic of a number of recent research reports. StockNews.com cut shares of NexPoint Residential Trust from a "hold" rating to a "sell" rating in a research report on Saturday, March 1st. Jefferies Financial Group increased their price objective on NexPoint Residential Trust from $41.00 to $43.00 and gave the stock a "hold" rating in a report on Monday, March 10th. Truist Financial boosted their price target on shares of NexPoint Residential Trust from $41.00 to $42.00 and gave the company a "hold" rating in a research report on Monday, March 10th. Finally, Raymond James lowered their price objective on NexPoint Residential Trust from $50.00 to $44.00 and set an "outperform" rating for the company in a research report on Thursday, March 20th. One 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 data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $46.33.

Insider Activity at NexPoint Residential Trust

In other news, insider Paul Richards purchased 5,814 shares of the business's 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 purchase, the insider now directly owns 18,493 shares in the company, valued at $614,707.32. This trade represents a 45.86 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 15.36% of the stock is owned by company insiders.

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.