NexPoint Residential Trust (NYSE:NXRT) Director Brian Mitts Sells 15,000 Shares of Company Stock

Key Points

• Director Brian Mitts sold 15,000 NXRT shares at an average of $17.07, worth about $256,050. The sale reduced his holdings by 24.88%, leaving him with 45,289 shares.
• NexPoint missed quarterly earnings and revenue estimates, reporting a loss of $0.45 per share versus the expected $0.41 loss, and revenue of $64.47 million versus $64.87 million expected.
• Analyst sentiment was cautious: MarketBeat reported an average “Reduce” rating and a $20.50 consensus price target. NXRT also announced a $0.53 quarterly dividend, equivalent to a stated 13.4% yield.

NexPoint Residential Trust, Inc. (NYSE:NXRT - Get Free Report) Director Brian Mitts sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $17.07, for a total value of $256,050.00. Following the completion of the sale, the director owned 45,289 shares in the company, valued at $773,083.23. This represents a 24.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

NexPoint Residential Trust Stock Performance

Shares of NXRT traded down $0.46 during mid-day trading on Monday, reaching $15.80. The company's stock had a trading volume of 679,878 shares, compared to its average volume of 465,244. NexPoint Residential Trust, Inc. has a 1-year low of $15.72 and a 1-year high of $32.36. The stock has a market cap of $403.64 million, a P/E ratio of 6.72, a PEG ratio of 0.31 and a beta of 1.15. The business has a 50-day simple moving average of $19.90 and a two-hundred day simple moving average of $25.51. The company has a current ratio of 1.69, a quick ratio of 1.92 and a debt-to-equity ratio of 7.10.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The financial services provider reported ($0.45) earnings per share for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.04). NexPoint Residential Trust had a negative return on equity of 14.29% and a negative net margin of 14.59%. The business had revenue of $64.47 million for the quarter, compared to analyst estimates of $64.87 million. As a group, equities research analysts anticipate that NexPoint Residential Trust, Inc. will post 2.23 earnings per share for the current fiscal year.

NexPoint Residential Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be given a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $2.12 annualized dividend and a dividend yield of 13.4%. NexPoint Residential Trust's dividend payout ratio is presently -144.22%.

Hedge Funds Weigh In On NexPoint Residential Trust

A number of hedge funds have recently bought and sold shares of NXRT. Allworth Financial LP bought a new stake in NexPoint Residential Trust in the 2nd quarter valued at about $33,000. Ameritas Advisory Services LLC bought a new position in shares of NexPoint Residential Trust during the second quarter worth approximately $39,000. PNC Financial Services Group Inc. increased its holdings in shares of NexPoint Residential Trust by 29.9% during the first quarter. PNC Financial Services Group Inc. now owns 1,723 shares of the financial services provider's stock worth $43,000 after purchasing an additional 397 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of NexPoint Residential Trust in the second quarter valued at approximately $51,000. Finally, Signaturefd LLC raised its position in shares of NexPoint Residential Trust by 183.0% in the third quarter. Signaturefd LLC now owns 3,456 shares of the financial services provider's stock valued at $67,000 after buying an additional 2,235 shares in the last quarter. 76.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NXRT. Citizens Jmp reiterated a "market perform" rating on shares of NexPoint Residential Trust in a research note on Thursday, August 20th. Truist Financial cut their price objective on shares of NexPoint Residential Trust from $26.00 to $18.00 and set a "hold" rating for the company in a research report on Tuesday, September 29th. Wall Street Zen cut NexPoint Residential Trust from a "hold" rating to a "sell" rating in a report on Saturday. Zacks Research downgraded NexPoint Residential Trust from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 13th. Finally, Weiss Ratings upgraded NexPoint Residential Trust from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, October 27th. Three equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $20.50.

About NexPoint Residential Trust

NexPoint Residential Trust, Inc NYSE: NXRT is a publicly traded real estate investment trust focused on acquiring, owning, operating and selectively renovating multifamily apartment communities. The company generally targets value-add properties, seeking to improve their operating performance and resident appeal through renovations, property management initiatives and other capital improvements.

NexPoint Residential Trust's portfolio is concentrated primarily in the Southeastern and Southwestern United States.

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