Arrowstreet Capital Limited Partnership Cuts Stock Position in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Arrowstreet Capital Limited Partnership lowered its stake in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 91.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,278 shares of the financial services provider’s stock after selling 66,914 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in NexPoint Residential Trust were worth $262,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jane Street Group LLC grew its position in shares of NexPoint Residential Trust by 160.3% in the third quarter. Jane Street Group LLC now owns 58,040 shares of the financial services provider’s stock valued at $2,554,000 after purchasing an additional 35,741 shares during the period. JPMorgan Chase & Co. boosted its holdings in NexPoint Residential Trust by 27.3% in the 4th quarter. JPMorgan Chase & Co. now owns 149,020 shares of the financial services provider’s stock worth $6,222,000 after buying an additional 31,930 shares during the last quarter. Norges Bank purchased a new stake in NexPoint Residential Trust during the 4th quarter worth approximately $1,127,000. Tidal Investments LLC acquired a new position in shares of NexPoint Residential Trust during the third quarter valued at approximately $1,166,000. Finally, Franklin Resources Inc. lifted its position in shares of NexPoint Residential Trust by 164.0% in the third quarter. Franklin Resources Inc. now owns 34,865 shares of the financial services provider’s stock valued at $1,506,000 after acquiring an additional 21,660 shares in the last quarter. Hedge funds and other institutional investors own 76.61% of the company’s stock.

NexPoint Residential Trust Stock Up 0.2 %

Shares of NYSE NXRT opened at $34.67 on Monday. The company has a market capitalization of $885.37 million, a P/E ratio of 19.81, a P/E/G 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. The company has a 50 day simple moving average of $38.88 and a 200-day simple moving average of $41.50. NexPoint Residential Trust, Inc. has a 1 year low of $30.73 and a 1 year high of $48.37.

NexPoint Residential Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.51 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 5.88%. NexPoint Residential Trust’s dividend payout ratio is currently -20,400.00%.

Wall Street Analyst Weigh In

Several research firms recently commented on NXRT. Jefferies Financial Group increased their price objective on 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 target price on shares of NexPoint Residential Trust from $50.00 to $44.00 and set an “outperform” rating for the company in a research report on Thursday, March 20th. StockNews.com cut shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. Finally, Truist Financial boosted their target price on NexPoint Residential Trust from $41.00 to $42.00 and gave the stock a “hold” rating in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $46.33.

Insider Activity

In related news, insider Paul Richards purchased 5,814 shares of the company’s stock in a transaction on Monday, April 7th. The stock was acquired at an average cost of $33.24 per share, for a total transaction of $193,257.36. Following the completion of 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 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.

About NexPoint Residential Trust

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.