NexPoint Residential Trust, Inc. (NYSE:NXRT) Sees Large Increase in Short Interest

NexPoint Residential Trust, Inc. (NYSE:NXRT - Get Free Report) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 360,900 shares, an increase of 33.0% from the March 31st total of 271,300 shares. Approximately 1.7% of the company's stock are sold short. Based on an average daily volume of 140,200 shares, the days-to-cover ratio is currently 2.6 days.

Insiders Place Their Bets

In other NexPoint Residential Trust news, insider Paul Richards bought 5,814 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average price of $33.24 per share, with a total value of $193,257.36. Following the completion of the acquisition, the insider now directly owns 18,493 shares of the company's stock, valued at $614,707.32. This represents a 45.86 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 15.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NXRT. Tidal Investments LLC acquired a new position in NexPoint Residential Trust during the 3rd quarter worth approximately $1,166,000. Franklin Resources Inc. raised its position in NexPoint Residential Trust by 164.0% in the third quarter. Franklin Resources Inc. now owns 34,865 shares of the financial services provider's stock worth $1,506,000 after acquiring an additional 21,660 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in NexPoint Residential Trust by 16.7% in the third quarter. JPMorgan Chase & Co. now owns 117,090 shares of the financial services provider's stock valued at $5,153,000 after acquiring an additional 16,746 shares during the period. SG Americas Securities LLC boosted its position in shares of NexPoint Residential Trust by 3.7% during the 4th quarter. SG Americas Securities LLC now owns 16,249 shares of the financial services provider's stock worth $678,000 after purchasing an additional 579 shares in the last quarter. Finally, Copeland Capital Management LLC increased its holdings in shares of NexPoint Residential Trust by 0.9% in the 4th quarter. Copeland Capital Management LLC now owns 909,758 shares of the financial services provider's stock valued at $37,982,000 after purchasing an additional 8,072 shares in the last quarter. 76.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. StockNews.com cut NexPoint Residential Trust from a "hold" rating to a "sell" rating in a research note on Saturday, March 1st. Truist Financial increased 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 report on Monday, March 10th. Jefferies Financial Group boosted their price target on shares of NexPoint Residential Trust from $41.00 to $43.00 and gave the company a "hold" rating in a research report on Monday, March 10th. Finally, Raymond James dropped their price objective on NexPoint Residential Trust from $50.00 to $44.00 and set an "outperform" rating on the stock in a report on Thursday, March 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $46.33.

NexPoint Residential Trust Stock Performance

Shares of NYSE NXRT traded down $0.43 during midday trading on Tuesday, reaching $37.74. 6,088 shares of the company were exchanged, compared to its average volume of 131,232. The stock has a market cap of $963.53 million, a P/E ratio of 21.58, a PEG ratio of 2.34 and a beta of 1.14. NexPoint Residential Trust has a 1 year low of $30.98 and a 1 year high of $48.37. The stock has a fifty day simple moving average of $37.90 and a 200 day simple moving average of $40.77. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 3.25.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The financial services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.06. NexPoint Residential Trust had a return on equity of 9.54% and a net margin of 17.54%. The company had revenue of $63.22 million for the quarter, compared to the consensus estimate of $63.29 million. On average, research analysts forecast that NexPoint Residential Trust will post 2.86 earnings per share for the current fiscal year.

NexPoint Residential Trust Announces Dividend

The company 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 $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend is Monday, June 16th. NexPoint Residential Trust's dividend payout ratio (DPR) is presently -159.37%.

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.