Bank of New York Mellon Corp Sells 10,981 Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT)

Bank of New York Mellon Corp decreased its position in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 210,238 shares of the financial services provider's stock after selling 10,981 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.82% of NexPoint Residential Trust worth $8,311,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in NXRT. Nexpoint Asset Management L.P. grew its holdings in shares of NexPoint Residential Trust by 100.0% during the fourth quarter. Nexpoint Asset Management L.P. now owns 1,562,753 shares of the financial services provider's stock worth $65,245,000 after buying an additional 781,266 shares during the last quarter. Millennium Management LLC lifted its stake in NexPoint Residential Trust by 194.3% in the 4th quarter. Millennium Management LLC now owns 284,292 shares of the financial services provider's stock valued at $11,869,000 after buying an additional 187,680 shares in the last quarter. BROOKFIELD Corp ON purchased a new stake in NexPoint Residential Trust in the 4th quarter valued at approximately $3,863,000. Northern Trust Corp lifted its stake in shares of NexPoint Residential Trust by 18.6% during the 4th quarter. Northern Trust Corp now owns 435,981 shares of the financial services provider's stock worth $18,202,000 after purchasing an additional 68,471 shares during the period. Finally, First Trust Advisors LP purchased a new position in shares of NexPoint Residential Trust during the 4th quarter worth $2,590,000. Hedge funds and other institutional investors own 76.61% of the company's stock.

Wall Street Analysts Forecast Growth

NXRT has been the subject of a number of research analyst reports. JMP Securities restated a "market perform" rating on shares of NexPoint Residential Trust in a report on Monday, May 19th. Citizens Jmp downgraded NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a report on Monday, May 19th. Raymond James Financial downgraded NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Compass Point restated a "neutral" rating and set a $42.50 price objective (down from $50.00) on shares of NexPoint Residential Trust in a report on Tuesday, May 13th. Finally, Truist Financial dropped their price objective on NexPoint Residential Trust from $42.00 to $38.00 and set a "hold" rating for the company in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $43.58.

Insiders Place Their Bets

In other news, insider Paul Richards acquired 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was purchased at an average price of $32.92 per share, with a total value of $164,600.00. Following the purchase, the insider owned 24,689 shares of the company's stock, valued at approximately $812,761.88. This trade represents a 25.39% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 15.36% of the company's stock.

NexPoint Residential Trust Stock Performance

Shares of NXRT stock remained flat at $33.81 during trading hours on Friday. 83,624 shares of the stock traded hands, compared to its average volume of 150,806. The company has a debt-to-equity ratio of 3.86, a current ratio of 2.65 and a quick ratio of 2.65. The firm has a 50 day moving average price of $33.96 and a 200-day moving average price of $36.83. NexPoint Residential Trust, Inc. has a twelve month low of $30.98 and a twelve month high of $48.37. The company has a market cap of $854.72 million, a PE ratio of -26.41, a price-to-earnings-growth ratio of 2.01 and a beta of 1.06.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.78 by $0.06. NexPoint Residential Trust had a negative net margin of 12.57% and a negative return on equity of 7.42%. The company had revenue of $63.22 million for the quarter, compared to analyst estimates of $63.29 million. As a group, analysts anticipate that NexPoint Residential Trust, Inc. will post 2.86 EPS for the current fiscal year.

NexPoint Residential Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 6.03%. The ex-dividend date was Monday, June 16th. NexPoint Residential Trust's payout ratio is -159.38%.

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.