Envestnet Asset Management Inc. Buys 364 Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT)

Envestnet Asset Management Inc. raised its stake in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 141,120 shares of the financial services provider’s stock after acquiring an additional 364 shares during the period. Envestnet Asset Management Inc. owned approximately 0.56% of NexPoint Residential Trust worth $5,892,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp increased its stake in NexPoint Residential Trust by 8.6% in the fourth quarter. Van ECK Associates Corp now owns 4,237 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 336 shares during the period. Smartleaf Asset Management LLC grew its stake in NexPoint Residential Trust by 104.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 894 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 456 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of NexPoint Residential Trust by 3.7% in the fourth quarter. SG Americas Securities LLC now owns 16,249 shares of the financial services provider’s stock valued at $678,000 after purchasing an additional 579 shares during the period. Sei Investments Co. lifted its holdings in shares of NexPoint Residential Trust by 1.8% during the fourth quarter. Sei Investments Co. now owns 34,982 shares of the financial services provider’s stock worth $1,461,000 after purchasing an additional 631 shares during the period. Finally, abrdn plc boosted its position in NexPoint Residential Trust by 30.6% in the fourth quarter. abrdn plc now owns 6,068 shares of the financial services provider’s stock valued at $251,000 after buying an additional 1,423 shares during the last quarter. Hedge funds and other institutional investors own 76.61% of the company’s stock.

Analyst Upgrades and Downgrades

NXRT has been the topic of several recent research reports. Jefferies Financial Group upped their price target on shares of NexPoint Residential Trust from $41.00 to $43.00 and gave the company a “hold” rating in a report on Monday, March 10th. Truist Financial lifted their target price on shares of NexPoint Residential Trust from $41.00 to $42.00 and gave the company a “hold” rating in a report on Monday, March 10th. Raymond James lowered their price target on shares of NexPoint Residential Trust from $50.00 to $44.00 and set an “outperform” rating on the stock in a report on Thursday, March 20th. Finally, StockNews.com cut shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $46.33.

NexPoint Residential Trust Trading Down 1.3 %

Shares of NXRT opened at $36.01 on Tuesday. The firm’s fifty day moving average is $38.40 and its two-hundred day moving average is $41.19. The stock has a market cap of $919.48 million, a PE ratio of 20.58, a price-to-earnings-growth ratio of 2.34 and a beta of 1.18. 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 $30.98 and a 52-week high of $48.37.

NexPoint Residential Trust Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 5.67%. NexPoint Residential Trust’s payout ratio is -20,400.00%.

Insiders Place Their Bets

In other news, insider Paul Richards bought 5,814 shares of NexPoint Residential Trust stock in a transaction on Monday, April 7th. The shares were bought at an average cost 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 trade represents a 45.86 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.96% 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.