Arrowstreet Capital Limited Partnership Lowers Holdings in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Arrowstreet Capital Limited Partnership trimmed its stake in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) by 91.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,278 shares of the financial services provider's stock after selling 66,914 shares during the period. Arrowstreet Capital Limited Partnership's holdings in NexPoint Residential Trust were worth $262,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew 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 acquiring an additional 456 shares in the last quarter. Van ECK Associates Corp grew its stake 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 worth $177,000 after buying an additional 336 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in NexPoint Residential Trust in the 4th quarter valued at approximately $211,000. abrdn plc raised 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 worth $251,000 after purchasing an additional 1,423 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in NexPoint Residential Trust by 4.1% during the third quarter. Quantinno Capital Management LP now owns 6,059 shares of the financial services provider's stock worth $267,000 after buying an additional 240 shares during the last quarter. 76.61% of the stock is owned by institutional investors.

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Insider Transactions at NexPoint Residential Trust

In related news, insider Paul Richards acquired 5,814 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were bought at an average cost of $33.24 per share, for a total transaction of $193,257.36. Following the purchase, the insider now owns 18,493 shares in the company, valued at $614,707.32. This trade represents a 45.86 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.96% of the company's stock.

Wall Street Analysts Forecast Growth

NXRT has been the subject of a number of analyst reports. Raymond James reduced their price objective on shares of NexPoint Residential Trust from $50.00 to $44.00 and set an "outperform" rating for the company in a report on Thursday, March 20th. Jefferies Financial Group boosted their target price on NexPoint Residential Trust from $41.00 to $43.00 and gave the stock a "hold" rating in a research note on Monday, March 10th. Truist Financial increased their price target on NexPoint Residential Trust from $41.00 to $42.00 and gave the company a "hold" rating in a research report on Monday, March 10th. Finally, StockNews.com downgraded NexPoint Residential Trust from a "hold" rating to a "sell" rating in a research note on Saturday, March 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $46.33.

NexPoint Residential Trust Stock Performance

Shares of NXRT traded up $0.07 during mid-day trading on Tuesday, hitting $35.77. The stock had a trading volume of 92,430 shares, compared to its average volume of 132,986. 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 firm has a market cap of $913.22 million, a P/E ratio of 20.44, a PEG ratio of 2.34 and a beta of 1.18. NexPoint Residential Trust, Inc. has a 52 week low of $30.73 and a 52 week high of $48.37. The business has a fifty day moving average price of $38.80 and a 200-day moving average price of $41.44.

NexPoint Residential Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 5.70%. NexPoint Residential Trust's dividend payout ratio is presently -20,400.00%.

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.