Geode Capital Management LLC Cuts Holdings in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Geode Capital Management LLC reduced its holdings in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 564,582 shares of the financial services provider's stock after selling 11,502 shares during the period. Geode Capital Management LLC owned about 2.22% of NexPoint Residential Trust worth $23,577,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in shares of 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 purchasing an additional 336 shares during the period. Smartleaf Asset Management LLC increased its stake in NexPoint Residential Trust by 104.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 894 shares of the financial services provider's stock worth $37,000 after buying an additional 456 shares in the last quarter. SG Americas Securities LLC increased its stake in NexPoint Residential Trust by 3.7% in the 4th quarter. SG Americas Securities LLC now owns 16,249 shares of the financial services provider's stock worth $678,000 after buying an additional 579 shares in the last quarter. Sei Investments Co. raised its holdings in NexPoint Residential Trust by 1.8% during the fourth quarter. Sei Investments Co. now owns 34,982 shares of the financial services provider's stock valued at $1,461,000 after acquiring an additional 631 shares during the period. Finally, abrdn plc lifted its position in shares of NexPoint Residential Trust by 30.6% in the fourth quarter. abrdn plc now owns 6,068 shares of the financial services provider's stock valued at $251,000 after acquiring an additional 1,423 shares in the last quarter. 76.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Paul Richards acquired 5,814 shares of NexPoint Residential Trust stock in a transaction on Monday, April 7th. The shares were bought at an average cost 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 trade represents a 45.86 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 15.36% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NXRT. Raymond James dropped their price target on NexPoint Residential Trust from $50.00 to $44.00 and set an "outperform" rating for the company in a research note on Thursday, March 20th. StockNews.com downgraded shares of NexPoint Residential Trust from a "hold" rating to a "sell" rating in a report on Saturday, March 1st. Jefferies Financial Group lifted their target price on NexPoint Residential Trust from $41.00 to $43.00 and gave the stock a "hold" rating in a report on Monday, March 10th. Finally, Truist Financial raised their price target on NexPoint Residential Trust from $41.00 to $42.00 and gave the company a "hold" rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $46.33.

NexPoint Residential Trust Trading Down 0.2 %

Shares of NYSE:NXRT traded down $0.07 during trading hours on Thursday, hitting $36.75. 13,159 shares of the company's stock traded hands, compared to its average volume of 131,312. The firm has a market capitalization of $938.37 million, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 2.34 and a beta of 1.18. The business has a fifty day moving average price of $38.26 and a 200-day moving average price of $41.13. NexPoint Residential Trust, Inc. has a 1 year low of $30.98 and a 1 year high of $48.37. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.79 and a quick ratio of 1.79.

NexPoint Residential Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 5.55%. The ex-dividend date was Friday, March 14th. NexPoint Residential Trust's dividend payout ratio (DPR) is presently -20,400.00%.

About NexPoint Residential Trust

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.