Nexpoint Asset Management L.P. Sells 643,406 Shares of NexPoint Residential Trust, Inc. $NXRT

Key Points

• Nexpoint Asset Management L.P. reduced its stake in NexPoint Residential Trust, Inc. by 41.2%, owning 919,347 shares after selling 643,406 shares in the first quarter.
• NexPoint Residential Trust reported a quarterly earnings per share of $0.80, missing estimates, and has also announced a quarterly dividend of $0.51 to be paid on September 30th.
• Analysts currently rate NexPoint Residential Trust with an average rating of “Hold” and a target price of $41.50, reflecting a cautious outlook on the stock.

Nexpoint Asset Management L.P. lessened its holdings in NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) by 41.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 919,347 shares of the financial services provider's stock after selling 643,406 shares during the quarter. NexPoint Residential Trust accounts for about 3.2% of Nexpoint Asset Management L.P.'s holdings, making the stock its 9th biggest position. Nexpoint Asset Management L.P. owned approximately 3.64% of NexPoint Residential Trust worth $36,342,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Millennium Management LLC boosted its stake in shares of NexPoint Residential Trust by 15.6% during the 1st quarter. Millennium Management LLC now owns 328,683 shares of the financial services provider's stock worth $12,993,000 after acquiring an additional 44,391 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of NexPoint Residential Trust by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,281 shares of the financial services provider's stock worth $525,000 after acquiring an additional 573 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of NexPoint Residential Trust during the 1st quarter worth approximately $341,000. Focus Partners Advisor Solutions LLC purchased a new stake in shares of NexPoint Residential Trust during the 1st quarter worth approximately $285,000. Finally, Royal Bank of Canada boosted its stake in shares of NexPoint Residential Trust by 5.7% during the 1st quarter. Royal Bank of Canada now owns 54,612 shares of the financial services provider's stock worth $2,159,000 after acquiring an additional 2,942 shares in the last quarter. Hedge funds and other institutional investors own 76.61% of the company's stock.

Wall Street Analyst Weigh In

NXRT has been the subject of a number of research analyst reports. Truist Financial dropped their price target on NexPoint Residential Trust from $38.00 to $34.00 and set a "hold" rating for the company in a research report on Tuesday, August 12th. Zacks Research cut NexPoint Residential Trust from a "hold" rating to a "strong sell" rating in a research report on Thursday. Wall Street Zen upgraded NexPoint Residential Trust from a "sell" rating to a "hold" rating in a research report on Saturday, August 23rd. JMP Securities restated a "market perform" rating on shares of NexPoint Residential Trust in a research report on Monday, May 19th. Finally, Citizens Jmp cut NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a research report on Monday, May 19th. Seven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, NexPoint Residential Trust presently has an average rating of "Reduce" and an average price target of $41.50.

NexPoint Residential Trust Price Performance

NXRT stock traded up $0.68 on Friday, reaching $34.69. The company had a trading volume of 198,520 shares, compared to its average volume of 179,750. NexPoint Residential Trust, Inc. has a 1 year low of $29.98 and a 1 year high of $48.31. The company has a debt-to-equity ratio of 4.22, a quick ratio of 1.89 and a current ratio of 1.89. The company's fifty day moving average is $33.06 and its 200 day moving average is $35.37. The company has a market cap of $879.64 million, a P/E ratio of -17.70, a PEG ratio of 2.08 and a beta of 1.04.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.80 earnings per share for the quarter, missing analysts' consensus estimates of $0.81 by ($0.01). NexPoint Residential Trust had a negative return on equity of 12.54% and a negative net margin of 19.55%.The business had revenue of $63.10 million for the quarter, compared to analysts' expectations of $63.32 million. NexPoint Residential Trust has set its FY 2025 guidance at 2.750-2.750 EPS. On average, research analysts forecast that NexPoint Residential Trust, Inc. will post 2.86 earnings per share for the current year.

NexPoint Residential Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Monday, September 15th. NexPoint Residential Trust's dividend payout ratio (DPR) is presently -104.08%.

Insider Activity

In related news, insider Paul Richards bought 5,000 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were acquired at an average cost of $32.92 per share, for a total transaction of $164,600.00. Following the acquisition, the insider owned 24,689 shares in the company, valued at $812,761.88. This represents a 25.39% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brian Mitts sold 5,000 shares of NexPoint Residential Trust stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $30.92, for a total value of $154,600.00. Following the completion of the transaction, the director owned 65,900 shares of the company's stock, valued at $2,037,628. This trade represents a 7.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.