Resona Asset Management Co. Ltd. Takes $366,000 Position in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Resona Asset Management Co. Ltd. bought a new position in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,797 shares of the financial services provider's stock, valued at approximately $366,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC lifted its position in NexPoint Residential Trust by 104.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 894 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 456 shares during the period. Meeder Asset Management Inc. grew its holdings in NexPoint Residential Trust by 158.3% during the fourth quarter. Meeder Asset Management Inc. now owns 2,462 shares of the financial services provider's stock worth $103,000 after acquiring an additional 1,509 shares during the period. Van ECK Associates Corp raised its position in 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 acquiring an additional 336 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of NexPoint Residential Trust during the 4th quarter worth $211,000. Finally, abrdn plc lifted its stake 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 purchasing an additional 1,423 shares during the period. 76.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Paul Richards acquired 5,814 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was purchased at an average cost of $33.24 per share, for a total transaction of $193,257.36. Following the purchase, the insider now directly owns 18,493 shares in the company, valued at $614,707.32. This represents a 45.86 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 12.96% of the stock is owned by company insiders.

NexPoint Residential Trust Stock Up 2.9 %

NXRT stock traded up $1.03 during trading on Thursday, reaching $36.64. The stock had a trading volume of 27,101 shares, compared to its average volume of 132,544. The firm has a fifty day moving average price of $38.63 and a 200 day moving average price of $41.36. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 3.25. The company has a market capitalization of $935.46 million, a P/E ratio of 20.90, a PEG ratio of 2.34 and a beta of 1.18. NexPoint Residential Trust, Inc. has a 1-year low of $30.78 and a 1-year high of $48.37.

NexPoint Residential Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date of this dividend was Friday, March 14th. NexPoint Residential Trust's dividend payout ratio is presently -20,400.00%.

Analyst Upgrades and Downgrades

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

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.