Peregrine Capital Management LLC Sells 250,908 Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT)

Peregrine Capital Management LLC lowered its position in NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) by 92.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,064 shares of the financial services provider's stock after selling 250,908 shares during the quarter. Peregrine Capital Management LLC owned about 0.08% of NexPoint Residential Trust worth $725,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NXRT. Yousif Capital Management LLC boosted its stake in NexPoint Residential Trust by 0.6% during the first quarter. Yousif Capital Management LLC now owns 21,646 shares of the financial services provider's stock worth $1,955,000 after buying an additional 136 shares during the period. LPL Financial LLC boosted its stake in NexPoint Residential Trust by 4.0% during the second quarter. LPL Financial LLC now owns 4,521 shares of the financial services provider's stock worth $283,000 after buying an additional 173 shares during the period. Great West Life Assurance Co. Can boosted its stake in NexPoint Residential Trust by 0.7% during the first quarter. Great West Life Assurance Co. Can now owns 37,735 shares of the financial services provider's stock worth $3,510,000 after buying an additional 274 shares during the period. Engineers Gate Manager LP boosted its stake in NexPoint Residential Trust by 12.6% during the first quarter. Engineers Gate Manager LP now owns 2,759 shares of the financial services provider's stock worth $249,000 after buying an additional 309 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in NexPoint Residential Trust by 7.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,617 shares of the financial services provider's stock worth $417,000 after buying an additional 320 shares during the period. Hedge funds and other institutional investors own 76.61% of the company's stock.

NexPoint Residential Trust Price Performance

Shares of NexPoint Residential Trust stock traded down $0.56 on Friday, hitting $31.89. The company's stock had a trading volume of 105,481 shares, compared to its average volume of 158,784. The company has a market capitalization of $821.81 million, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 3.16. The firm has a fifty day moving average price of $30.58 and a 200-day moving average price of $31.28. NexPoint Residential Trust, Inc. has a 52-week low of $26.21 and a 52-week high of $49.87.

NexPoint Residential Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.462 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.85 dividend on an annualized basis and a yield of 5.79%. NexPoint Residential Trust's dividend payout ratio (DPR) is 110.12%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NXRT shares. Raymond James cut shares of NexPoint Residential Trust from a "market perform" rating to an "underperform" rating in a research report on Monday, March 18th. Janney Montgomery Scott cut shares of NexPoint Residential Trust from a "buy" rating to a "neutral" rating and set a $36.00 target price on the stock. in a report on Wednesday, December 20th. JMP Securities reaffirmed a "market outperform" rating and issued a $40.00 target price on shares of NexPoint Residential Trust in a report on Wednesday, March 6th. Truist Financial reduced their target price on shares of NexPoint Residential Trust from $37.00 to $35.00 and set a "hold" rating on the stock in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of NexPoint Residential Trust in a research report on Tuesday, January 30th. They set a "buy" rating and a $38.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $37.25.

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.