Millennium Management LLC Acquires 187,680 Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT)

Millennium Management LLC lifted its position in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) by 194.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 284,292 shares of the financial services provider's stock after purchasing an additional 187,680 shares during the quarter. Millennium Management LLC owned about 1.12% of NexPoint Residential Trust worth $11,869,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Johnson Financial Group Inc. bought a new stake in shares of NexPoint Residential Trust during the fourth quarter valued at approximately $35,000. Smartleaf Asset Management LLC boosted its holdings in NexPoint Residential Trust by 104.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 894 shares of the financial services provider's stock worth $37,000 after acquiring an additional 456 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in NexPoint Residential Trust by 158.3% in the fourth quarter. Meeder Asset Management Inc. now owns 2,462 shares of the financial services provider's stock worth $103,000 after acquiring an additional 1,509 shares in the last quarter. Van ECK Associates Corp boosted its holdings in NexPoint Residential Trust by 8.6% in the fourth quarter. Van ECK Associates Corp now owns 4,237 shares of the financial services provider's stock worth $177,000 after acquiring an additional 336 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in NexPoint Residential Trust in the fourth quarter worth $211,000. 76.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NXRT has been the topic of several analyst reports. Raymond James downgraded NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Compass Point reissued a "neutral" rating and issued a $42.50 target price (down previously from $50.00) on shares of NexPoint Residential Trust in a report on Tuesday, May 13th. Truist Financial increased their target price on NexPoint Residential Trust from $41.00 to $42.00 and gave the company a "hold" rating in a report on Monday, March 10th. Wall Street Zen downgraded NexPoint Residential Trust from a "hold" rating to a "sell" rating in a report on Saturday, March 1st. Finally, Jefferies Financial Group upped their price target on NexPoint Residential Trust from $41.00 to $43.00 and gave the stock a "hold" rating in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $44.25.

NexPoint Residential Trust Stock Performance

NXRT traded up $0.62 during midday trading on Tuesday, reaching $33.92. The company had a trading volume of 116,792 shares, compared to its average volume of 131,954. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25. The business has a 50-day moving average of $36.62 and a two-hundred day moving average of $40.01. The company has a market cap of $857.59 million, a P/E ratio of 19.38, a P/E/G ratio of 2.34 and a beta of 1.14. NexPoint Residential Trust, Inc. has a 1 year low of $30.98 and a 1 year high of $48.37.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) last released its earnings results on Tuesday, April 29th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $63.29 million. As a group, equities research analysts predict that NexPoint Residential Trust, Inc. will post 2.86 earnings per share for the current fiscal year.

NexPoint Residential Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 6.01%. The ex-dividend date of this dividend is Monday, June 16th. NexPoint Residential Trust's dividend payout ratio is currently -159.37%.

Insider Buying and Selling

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 price of $33.24 per share, for a total transaction of $193,257.36. Following the acquisition, the insider now directly owns 18,493 shares of the company's stock, valued at $614,707.32. This represents a 45.86% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 15.36% of the stock is currently owned by company 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.