NexPoint Residential Trust, Inc. (NYSE:NXRT) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its holdings in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT – Get Rating) by 36.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,305 shares of the financial services provider’s stock after selling 748 shares during the period. Van ECK Associates Corp’s holdings in NexPoint Residential Trust were worth $60,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in NexPoint Residential Trust by 2.5% in the first quarter. Vanguard Group Inc. now owns 2,721,010 shares of the financial services provider’s stock valued at $245,735,000 after purchasing an additional 66,684 shares during the last quarter. State Street Corp grew its holdings in NexPoint Residential Trust by 1.9% in the second quarter. State Street Corp now owns 1,389,586 shares of the financial services provider’s stock valued at $86,863,000 after purchasing an additional 25,510 shares during the last quarter. Copeland Capital Management LLC grew its holdings in NexPoint Residential Trust by 9.8% in the third quarter. Copeland Capital Management LLC now owns 749,402 shares of the financial services provider’s stock valued at $34,630,000 after purchasing an additional 66,825 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in NexPoint Residential Trust by 6.1% in the second quarter. Goldman Sachs Group Inc. now owns 732,549 shares of the financial services provider’s stock valued at $45,792,000 after purchasing an additional 42,027 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in NexPoint Residential Trust by 8.8% in the second quarter. Renaissance Technologies LLC now owns 422,313 shares of the financial services provider’s stock valued at $26,399,000 after purchasing an additional 34,100 shares during the last quarter. Institutional investors and hedge funds own 77.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. StockNews.com lowered NexPoint Residential Trust from a “hold” rating to a “sell” rating in a report on Friday, January 13th. Truist Financial decreased their price objective on NexPoint Residential Trust from $66.00 to $48.00 and set a “hold” rating on the stock in a research note on Tuesday, November 29th. Jefferies Financial Group lowered NexPoint Residential Trust from a “buy” rating to a “hold” rating and decreased their price objective for the company from $78.00 to $45.00 in a research note on Wednesday, October 19th. Finally, Credit Suisse Group lowered NexPoint Residential Trust from an “outperform” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research note on Monday, January 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, NexPoint Residential Trust has a consensus rating of “Hold” and an average price target of $65.83.

NexPoint Residential Trust Stock Performance

NYSE NXRT opened at $45.57 on Friday. The business’s 50-day moving average price is $45.12 and its 200 day moving average price is $50.26. NexPoint Residential Trust, Inc. has a twelve month low of $38.67 and a twelve month high of $95.04. The company has a market capitalization of $1.16 billion, a PE ratio of 45.57, a price-to-earnings-growth ratio of 1.72 and a beta of 1.03. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 3.17.

NexPoint Residential Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 15th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, December 14th. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a yield of 3.69%. NexPoint Residential Trust’s dividend payout ratio is 168.00%.

Insider Buying and Selling

In other NexPoint Residential Trust news, General Counsel Dennis Charles Sauter, Jr. bought 2,223 shares of NexPoint Residential Trust stock in a transaction that occurred on Friday, November 4th. The shares were purchased at an average cost of $44.57 per share, for a total transaction of $99,079.11. Following the completion of the transaction, the general counsel now owns 5,795 shares of the company’s stock, valued at approximately $258,283.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.69% of the stock is currently owned by company insiders.

NexPoint Residential Trust Profile

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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.