Envestnet Asset Management Inc. Sells 30,519 Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT)

Envestnet Asset Management Inc. lessened its holdings in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT – Get Rating) by 30.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 70,345 shares of the financial services provider’s stock after selling 30,519 shares during the period. Envestnet Asset Management Inc. owned approximately 0.28% of NexPoint Residential Trust worth $3,251,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of NexPoint Residential Trust by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 2,721,010 shares of the financial services provider’s stock worth $245,735,000 after purchasing an additional 66,684 shares during the last quarter. State Street Corp raised its holdings in NexPoint Residential Trust by 1.9% in the 2nd quarter. State Street Corp now owns 1,389,586 shares of the financial services provider’s stock valued at $86,863,000 after acquiring an additional 25,510 shares in the last quarter. Copeland Capital Management LLC raised its holdings in NexPoint Residential Trust by 9.8% in the 3rd quarter. Copeland Capital Management LLC now owns 749,402 shares of the financial services provider’s stock valued at $34,630,000 after acquiring an additional 66,825 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in NexPoint Residential Trust by 6.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 732,549 shares of the financial services provider’s stock valued at $45,792,000 after acquiring an additional 42,027 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in NexPoint Residential Trust by 8.8% in the 2nd quarter. Renaissance Technologies LLC now owns 422,313 shares of the financial services provider’s stock valued at $26,399,000 after acquiring an additional 34,100 shares in the last quarter. Institutional investors and hedge funds own 77.28% of the company’s stock.

Analysts Set New Price Targets

NXRT has been the subject of several recent research reports. Truist Financial cut their price target on NexPoint Residential Trust from $66.00 to $48.00 and set a “hold” rating for the company in a report on Tuesday, November 29th. TheStreet lowered NexPoint Residential Trust from a “c” rating to a “d+” rating in a research note on Tuesday, February 21st. 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. Finally, StockNews.com lowered NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research note on Monday, February 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $60.00.

NexPoint Residential Trust Trading Down 2.1 %

NexPoint Residential Trust stock opened at $46.90 on Tuesday. The stock has a 50-day simple moving average of $47.05 and a 200 day simple moving average of $47.25. The company has a debt-to-equity ratio of 3.21, a quick ratio of 2.51 and a current ratio of 2.51. The stock has a market capitalization of $1.20 billion, a P/E ratio of -134.00, a PEG ratio of 1.84 and a beta of 1.08. NexPoint Residential Trust, Inc. has a 52 week low of $38.67 and a 52 week high of $95.04.

NexPoint Residential Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be given a $0.42 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.58%. NexPoint Residential Trust’s payout ratio is -479.99%.

NexPoint Residential Trust Company Profile

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NexPoint Residential Trust, Inc engages in the acquisition, management, and disposition of multifamily assets. It also focuses on providing lifestyle amenities and upgraded living spaces to low and moderate income renters in the Southeastern United States and Texas. The company was founded on September 19, 2014 and is headquartered in Dallas, TX.