Raymond James Financial Inc. Buys New Stake in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Raymond James Financial Inc. acquired a new position in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 13,773 shares of the financial services provider's stock, valued at approximately $575,000. Raymond James Financial Inc. owned about 0.05% of NexPoint Residential Trust as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in NXRT. Jane Street Group LLC raised its position 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 during the last quarter. Geode Capital Management LLC increased its stake in NexPoint Residential Trust by 0.5% in the third quarter. Geode Capital Management LLC now owns 576,084 shares of the financial services provider's stock valued at $25,358,000 after purchasing an additional 2,740 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of NexPoint Residential Trust during the fourth quarter worth about $458,000. Franklin Resources Inc. grew its holdings in shares of NexPoint Residential Trust by 164.0% during the third quarter. Franklin Resources Inc. now owns 34,865 shares of the financial services provider's stock worth $1,506,000 after buying an additional 21,660 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings 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 worth $5,153,000 after buying an additional 16,746 shares during the last quarter. Institutional investors and hedge funds own 76.61% of the company's stock.

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Wall Street Analyst Weigh In

NXRT has been the subject of a number of recent research reports. Truist Financial increased their price objective on NexPoint Residential Trust from $41.00 to $42.00 and gave the stock a "hold" rating in a research report on Monday, March 10th. Jefferies Financial Group lifted their price objective 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. Raymond James cut 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 research report on Thursday, March 20th. Finally, StockNews.com downgraded shares of NexPoint Residential Trust from a "hold" rating to a "sell" rating in a report on Saturday, March 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $46.33.

Insider Buying and Selling

In other news, insider Paul Richards bought 5,814 shares of the stock in a transaction on Monday, April 7th. The shares were bought 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 owns 18,493 shares of the company's stock, valued at approximately $614,707.32. This trade represents a 45.86 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.96% of the stock is owned by insiders.

NexPoint Residential Trust Price Performance

NexPoint Residential Trust stock traded up $0.06 during midday trading on Friday, reaching $34.67. The company's stock had a trading volume of 161,585 shares, compared to its average volume of 132,814. The firm has a market capitalization of $885.37 million, a PE ratio of 19.81, a P/E/G ratio of 2.34 and a beta of 1.18. NexPoint Residential Trust, Inc. has a fifty-two week low of $30.73 and a fifty-two week high of $48.37. The stock's 50 day simple moving average is $38.88 and its 200 day simple moving average is $41.51. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.79 and a current ratio of 1.79.

NexPoint Residential Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 5.88%. The ex-dividend date of this dividend was Friday, March 14th. NexPoint Residential Trust's dividend payout ratio (DPR) is -20,400.00%.

NexPoint Residential Trust 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.