Renaissance Technologies LLC Trims Position in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Renaissance Technologies LLC lessened its holdings in NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) by 4.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,913 shares of the financial services provider's stock after selling 7,800 shares during the period. Renaissance Technologies LLC owned about 0.62% of NexPoint Residential Trust worth $6,593,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its position in shares of NexPoint Residential Trust by 104.1% during 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 in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of NexPoint Residential Trust by 158.3% in the 4th quarter. Meeder Asset Management Inc. now owns 2,462 shares of the financial services provider's stock valued at $103,000 after acquiring an additional 1,509 shares in the last quarter. Van ECK Associates Corp grew its stake in NexPoint Residential Trust by 8.6% in the 4th 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 in the last quarter. KLP Kapitalforvaltning AS purchased a new position in NexPoint Residential Trust in the fourth quarter worth $211,000. Finally, abrdn plc increased its position in shares of NexPoint Residential Trust by 30.6% during the 4th 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 last quarter. Institutional investors and hedge funds own 76.61% of the company's stock.

NexPoint Residential Trust Stock Performance

Shares of NexPoint Residential Trust stock traded down $0.13 during trading on Thursday, hitting $36.69. 17,669 shares of the company's stock traded hands, compared to its average volume of 131,328. NexPoint Residential Trust, Inc. has a 1 year low of $30.98 and a 1 year high of $48.37. The business has a 50-day simple moving average of $38.26 and a 200-day simple moving average of $41.13. The stock has a market capitalization of $936.87 million, a P/E ratio of 20.97, a PEG ratio of 2.34 and a beta of 1.18. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.79 and a quick ratio of 1.79.

NexPoint Residential Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.51 per share. The ex-dividend date was Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.56%. NexPoint Residential Trust's dividend payout ratio is currently -20,400.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NXRT shares. Truist Financial raised their price objective on NexPoint Residential Trust from $41.00 to $42.00 and gave the company a "hold" rating in a research note on Monday, March 10th. Jefferies Financial Group raised their price target 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. StockNews.com lowered NexPoint Residential Trust from a "hold" rating to a "sell" rating in a research report on Saturday, March 1st. Finally, Raymond James reduced their price target on NexPoint Residential Trust from $50.00 to $44.00 and set an "outperform" rating on the stock in a research note on Thursday, March 20th. One equities 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. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $46.33.

Insider Transactions at NexPoint Residential Trust

In other NexPoint Residential Trust news, insider Paul Richards acquired 5,814 shares of the business's stock in a transaction dated Monday, April 7th. The stock was purchased at an average price of $33.24 per share, with a total value of $193,257.36. Following the transaction, the insider now directly owns 18,493 shares in the company, valued at approximately $614,707.32. The trade was a 45.86 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.36% of the company's stock.

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.