Bank of America Corp DE Has $4.28 Million Position in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Bank of America Corp DE boosted its stake in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) by 87.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,499 shares of the financial services provider's stock after acquiring an additional 47,714 shares during the quarter. Bank of America Corp DE owned 0.40% of NexPoint Residential Trust worth $4,279,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NXRT. Johnson Financial Group Inc. bought a new stake in shares of NexPoint Residential Trust during the fourth quarter worth $35,000. Smartleaf Asset Management LLC grew 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 worth $37,000 after purchasing an additional 456 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of NexPoint Residential Trust by 158.3% during the fourth quarter. Meeder Asset Management Inc. now owns 2,462 shares of the financial services provider's stock worth $103,000 after purchasing an additional 1,509 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of NexPoint Residential Trust by 8.6% during the fourth quarter. Van ECK Associates Corp now owns 4,237 shares of the financial services provider's stock worth $177,000 after purchasing an additional 336 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of NexPoint Residential Trust during the fourth quarter worth $211,000. 76.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on NXRT shares. Jefferies Financial Group raised their price target on NexPoint Residential Trust from $41.00 to $43.00 and gave the company a "hold" rating in a report on Monday, March 10th. Raymond James cut NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Truist Financial decreased their price target on NexPoint Residential Trust from $42.00 to $38.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. Citizens Jmp cut NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a report on Monday, May 19th. Finally, JMP Securities reiterated a "market perform" rating on shares of NexPoint Residential Trust in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $43.58.

NexPoint Residential Trust Trading Down 0.1%

NXRT traded down $0.02 during midday trading on Tuesday, reaching $33.87. 174,597 shares of the company were exchanged, compared to its average volume of 132,027. 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 one year low of $30.98 and a one year high of $48.37. The stock has a market capitalization of $856.43 million, a P/E ratio of 19.35, a PEG ratio of 2.34 and a beta of 1.14. The stock's 50-day simple moving average is $36.09 and its 200 day simple moving average is $39.56.

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

NexPoint Residential Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 6.02%. The ex-dividend date of this dividend is Monday, June 16th. NexPoint Residential Trust's dividend payout ratio (DPR) is currently -159.37%.

Insiders Place Their Bets

In other NexPoint Residential Trust news, insider Paul Richards purchased 1,000 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were bought at an average price of $33.18 per share, with a total value of $33,180.00. Following the completion of the transaction, the insider now directly owns 19,869 shares in the company, valued at $659,253.42. This trade represents a 5.30% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 15.36% of the company's stock.

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.