Narwhal Capital Management Sells 15,508 Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT)

Narwhal Capital Management cut its stake in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) by 32.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,162 shares of the financial services provider's stock after selling 15,508 shares during the period. Narwhal Capital Management owned about 0.13% of NexPoint Residential Trust worth $1,271,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NXRT. Farther Finance Advisors LLC increased its stake in NexPoint Residential Trust by 1,732.4% in the 1st quarter. Farther Finance Advisors LLC now owns 623 shares of the financial services provider's stock worth $25,000 after buying an additional 589 shares in the last quarter. GAMMA Investing LLC grew its position in shares of NexPoint Residential Trust by 4,645.8% during the first quarter. GAMMA Investing LLC now owns 35,261 shares of the financial services provider's stock worth $1,394,000 after purchasing an additional 34,518 shares in the last quarter. Snowden Capital Advisors LLC raised its stake in NexPoint Residential Trust by 7.4% during the 4th quarter. Snowden Capital Advisors LLC now owns 9,810 shares of the financial services provider's stock valued at $410,000 after purchasing an additional 677 shares during the period. Quantinno Capital Management LP lifted its holdings in NexPoint Residential Trust by 13.3% in the 4th quarter. Quantinno Capital Management LP now owns 6,863 shares of the financial services provider's stock worth $287,000 after purchasing an additional 804 shares in the last quarter. Finally, Millennium Management LLC boosted 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 worth $11,869,000 after purchasing an additional 187,680 shares during the period. Institutional investors own 76.61% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on NXRT. Truist Financial lowered their target price on shares of NexPoint Residential Trust from $42.00 to $38.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. Wall Street Zen lowered NexPoint Residential Trust from a "hold" rating to a "sell" rating in a research report on Saturday, March 1st. Jefferies Financial Group boosted their target price 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. Citizens Jmp cut NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a report on Monday, May 19th. Finally, Raymond James Financial downgraded NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $43.58.

Insider Transactions at NexPoint Residential Trust

In related news, insider Paul Richards bought 1,000 shares of the company's stock in a transaction on Friday, May 23rd. The shares were acquired at an average cost of $33.18 per share, for a total transaction of $33,180.00. Following the purchase, the insider now directly owns 19,869 shares of the company's stock, valued at approximately $659,253.42. The trade was a 5.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 15.36% of the company's stock.

NexPoint Residential Trust Trading Down 1.0%

NXRT traded down $0.35 during trading on Tuesday, reaching $33.69. The company had a trading volume of 108,256 shares, compared to its average volume of 133,203. The company has a quick ratio of 2.65, a current ratio of 2.65 and a debt-to-equity ratio of 3.86. The business has a 50 day simple moving average of $35.43 and a 200-day simple moving average of $38.26. The stock has a market cap of $851.63 million, a P/E ratio of -26.32, a PEG ratio of 1.99 and a beta of 1.08. NexPoint Residential Trust, Inc. has a 52 week low of $30.98 and a 52 week high of $48.37.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.06. The firm had revenue of $63.22 million during the quarter, compared to analysts' expectations of $63.29 million. NexPoint Residential Trust had a negative net margin of 12.57% and a negative return on equity of 7.42%. On average, equities 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 will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.51 per share. The ex-dividend date is Monday, June 16th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 6.06%. NexPoint Residential Trust's dividend payout ratio is -159.38%.

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.