Legal & General Group Plc Has $6.32 Million Stock Position in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Legal & General Group Plc reduced its position in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) by 10.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,380 shares of the financial services provider's stock after selling 17,950 shares during the period. Legal & General Group Plc owned about 0.60% of NexPoint Residential Trust worth $6,320,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NXRT. Smartleaf Asset Management LLC boosted its holdings in shares of 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 valued at $37,000 after buying an additional 456 shares during the period. Meeder Asset Management Inc. boosted its stake 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 valued at $103,000 after acquiring an additional 1,509 shares during the period. Van ECK Associates Corp grew its holdings in shares of NexPoint Residential Trust by 8.6% during the fourth quarter. Van ECK Associates Corp now owns 4,237 shares of the financial services provider's stock valued at $177,000 after purchasing an additional 336 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of NexPoint Residential Trust during the 4th quarter worth approximately $211,000. Finally, abrdn plc boosted its position in NexPoint Residential Trust by 30.6% during the 4th quarter. abrdn plc now owns 6,068 shares of the financial services provider's stock valued at $251,000 after purchasing an additional 1,423 shares during the period. Institutional investors and hedge funds own 76.61% of the company's stock.

Insider Buying and Selling

In related news, insider Paul Richards purchased 5,814 shares of NexPoint Residential Trust stock in a transaction dated Monday, April 7th. The stock was acquired at an average cost of $33.24 per share, with a total value of $193,257.36. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 15.36% of the company's stock.

NexPoint Residential Trust Price Performance

Shares of NYSE:NXRT traded down $0.07 on Thursday, reaching $36.75. 13,159 shares of the company traded hands, compared to its average volume of 131,312. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market capitalization of $938.37 million, a PE ratio of 21.03, a P/E/G ratio of 2.34 and a beta of 1.18. The company's 50 day moving average is $38.26 and its 200-day moving average is $41.13. NexPoint Residential Trust, Inc. has a fifty-two week low of $30.98 and a fifty-two week high of $48.37.

NexPoint Residential Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.51 per share. The ex-dividend date was Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.55%. NexPoint Residential Trust's dividend payout ratio is currently -20,400.00%.

Analysts Set New Price Targets

A number of research firms have issued reports on NXRT. Raymond James cut their target price on NexPoint Residential Trust from $50.00 to $44.00 and set an "outperform" rating on the stock in a research note on Thursday, March 20th. Truist Financial boosted their target price on shares of NexPoint Residential Trust from $41.00 to $42.00 and gave the company a "hold" rating in a research note on Monday, March 10th. StockNews.com downgraded NexPoint Residential Trust from a "hold" rating to a "sell" rating in a research report on Saturday, March 1st. Finally, Jefferies Financial Group boosted 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 research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, NexPoint Residential Trust currently has a consensus rating of "Hold" and a consensus price target of $46.33.

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.