Short Interest in NexPoint Residential Trust, Inc. (NYSE:NXRT) Decreases By 16.4%

NexPoint Residential Trust, Inc. (NYSE:NXRT - Get Free Report) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 271,300 shares, a drop of 16.4% from the March 15th total of 324,500 shares. Based on an average daily volume of 138,100 shares, the short-interest ratio is currently 2.0 days. Currently, 1.3% of the company's shares are short sold.

Insider Activity at NexPoint Residential Trust

In other NexPoint Residential Trust news, insider Paul Richards bought 5,814 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average cost of $33.24 per share, with a total value of $193,257.36. Following the purchase, the insider now directly owns 18,493 shares in the company, valued at approximately $614,707.32. This represents a 45.86 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 15.36% of the stock is owned by insiders.

Institutional Trading of NexPoint Residential Trust

A number of institutional investors and hedge funds have recently bought and sold shares of NXRT. Jane Street Group LLC increased its holdings in NexPoint Residential Trust by 160.3% in the 3rd quarter. Jane Street Group LLC now owns 58,040 shares of the financial services provider's stock valued at $2,554,000 after purchasing an additional 35,741 shares in the last quarter. Geode Capital Management LLC lifted its position in NexPoint Residential Trust by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 576,084 shares of the financial services provider's stock worth $25,358,000 after acquiring an additional 2,740 shares in the last quarter. Tidal Investments LLC purchased a new position in NexPoint Residential Trust in the 3rd quarter worth approximately $1,166,000. Franklin Resources Inc. grew 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 valued at $1,506,000 after acquiring an additional 21,660 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of NexPoint Residential Trust by 16.7% during the third quarter. JPMorgan Chase & Co. now owns 117,090 shares of the financial services provider's stock valued at $5,153,000 after purchasing an additional 16,746 shares during the period. Institutional investors and hedge funds own 76.61% of the company's stock.

NexPoint Residential Trust Trading Down 0.3 %

NXRT traded down $0.12 during midday trading on Friday, hitting $36.50. The company's stock had a trading volume of 88,182 shares, compared to its average volume of 131,810. The firm has a market cap of $931.99 million, a P/E ratio of 20.86, a PEG ratio of 2.34 and a beta of 1.18. NexPoint Residential Trust has a 52-week low of $30.98 and a 52-week high of $48.37. 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 firm has a 50-day moving average price of $38.12 and a two-hundred day moving average price of $41.05.

NexPoint Residential Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 5.59%. The ex-dividend date was Friday, March 14th. NexPoint Residential Trust's dividend payout ratio is currently -20,400.00%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NXRT. StockNews.com downgraded shares of NexPoint Residential Trust from a "hold" rating to a "sell" rating in a research report on Saturday, March 1st. 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 report on Monday, March 10th. Raymond James lowered their price target on NexPoint Residential Trust from $50.00 to $44.00 and set an "outperform" rating for the company in a report on Thursday, March 20th. Finally, Truist Financial upped their target price on shares of NexPoint Residential Trust from $41.00 to $42.00 and gave the company a "hold" rating in a report on Monday, March 10th. One research 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.com, NexPoint Residential Trust currently 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.