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

Resona Asset Management Co. Ltd. purchased a new stake in NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,797 shares of the financial services provider's stock, valued at approximately $366,000.

A number of other hedge funds also recently modified their holdings of the company. Copeland Capital Management LLC grew its stake in shares of NexPoint Residential Trust by 0.9% in the 4th quarter. Copeland Capital Management LLC now owns 909,758 shares of the financial services provider's stock valued at $37,982,000 after purchasing an additional 8,072 shares during the period. Geode Capital Management LLC grew its position 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 acquiring an additional 2,740 shares during the period. Charles Schwab Investment Management Inc. grew its position in NexPoint Residential Trust by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 338,512 shares of the financial services provider's stock valued at $14,133,000 after acquiring an additional 5,832 shares during the period. Bank of New York Mellon Corp raised its stake in NexPoint Residential Trust by 2.6% during the fourth quarter. Bank of New York Mellon Corp now owns 221,219 shares of the financial services provider's stock worth $9,236,000 after acquiring an additional 5,618 shares in the last quarter. Finally, Foundry Partners LLC lifted its holdings in shares of NexPoint Residential Trust by 24.3% during the fourth quarter. Foundry Partners LLC now owns 179,035 shares of the financial services provider's stock valued at $7,475,000 after acquiring an additional 34,956 shares during the period. Institutional investors own 76.61% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NXRT. Jefferies Financial Group lifted their target price on shares of NexPoint Residential Trust from $41.00 to $43.00 and gave the company a "hold" rating in a research note on Monday, March 10th. Raymond James reduced their price objective 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. StockNews.com lowered NexPoint Residential Trust from a "hold" rating to a "sell" rating in a research note on Saturday, March 1st. Finally, Truist Financial lifted their price target on 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 assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $46.33.

Insider Transactions at NexPoint Residential Trust

In other NexPoint Residential Trust news, insider Paul Richards bought 5,814 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was acquired at an average cost of $33.24 per share, with a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.96% of the company's stock.

NexPoint Residential Trust Trading Up 0.2 %

NXRT stock traded up $0.07 during midday trading on Tuesday, reaching $35.77. The company's stock had a trading volume of 92,430 shares, compared to its average volume of 132,817. The business's 50-day simple moving average is $38.80 and its 200-day simple moving average is $41.44. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25. NexPoint Residential Trust, Inc. has a 52 week low of $30.73 and a 52 week high of $48.37. The stock has a market cap of $913.22 million, a PE ratio of 20.44, a price-to-earnings-growth ratio of 2.34 and a beta of 1.18.

NexPoint Residential Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 5.70%. NexPoint Residential Trust's dividend payout ratio (DPR) is presently -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.