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

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NXRT shares. Raymond James dropped 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. Jefferies Financial Group increased their price target on NexPoint Residential Trust from $41.00 to $43.00 and gave the stock a “hold” rating in a report on Monday, March 10th. StockNews.com lowered shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. Finally, Truist Financial increased their target price on shares of NexPoint Residential Trust from $41.00 to $42.00 and gave the stock a “hold” rating in a research note 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.33.

NexPoint Residential Trust Stock Down 0.9 %

NYSE NXRT traded down $0.35 during mid-day trading on Monday, hitting $36.15. The company’s stock had a trading volume of 5,827 shares, compared to its average volume of 136,452. The firm has a market capitalization of $922.93 million, a price-to-earnings ratio of 20.65, a PEG ratio of 2.34 and a beta of 1.18. The company’s 50 day simple moving average is $38.47 and its 200 day simple moving average is $41.24. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 3.25. NexPoint Residential Trust has a twelve month low of $30.98 and a twelve month high of $48.37.

NexPoint Residential Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 5.64%. The ex-dividend date was Friday, March 14th. NexPoint Residential Trust’s payout ratio is presently -20,400.00%.

Insider Buying and Selling at NexPoint Residential Trust

In other 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 price of $33.24 per share, with a total value of $193,257.36. Following the completion of the purchase, the insider now directly owns 18,493 shares of the company’s stock, 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 is available at this link. Corporate insiders own 12.96% of the company’s stock.

Hedge Funds Weigh In On NexPoint Residential Trust

Several large investors have recently added to or reduced their stakes in NXRT. Nexpoint Asset Management L.P. increased its holdings in NexPoint Residential Trust by 100.0% during the 4th quarter. Nexpoint Asset Management L.P. now owns 1,562,753 shares of the financial services provider’s stock worth $65,245,000 after purchasing an additional 781,266 shares in the last quarter. Copeland Capital Management LLC boosted its position in shares of NexPoint Residential Trust by 0.9% during the fourth quarter. Copeland Capital Management LLC now owns 909,758 shares of the financial services provider’s stock valued at $37,982,000 after buying an additional 8,072 shares during the last quarter. Geode Capital Management LLC grew its holdings in NexPoint Residential Trust by 0.5% during the third quarter. Geode Capital Management LLC now owns 576,084 shares of the financial services provider’s stock worth $25,358,000 after buying an additional 2,740 shares in the last quarter. Northern Trust Corp raised its position in NexPoint Residential Trust by 18.6% in the 4th quarter. Northern Trust Corp now owns 435,981 shares of the financial services provider’s stock valued at $18,202,000 after buying an additional 68,471 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in NexPoint Residential Trust by 2.6% during the 4th quarter. Deutsche Bank AG now owns 381,537 shares of the financial services provider’s stock valued at $15,929,000 after acquiring an additional 9,754 shares in the last quarter. Institutional investors own 76.61% 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.