Pasadena Private Wealth LLC Buys 10,837 Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT)

Pasadena Private Wealth LLC boosted its stake in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) by 26.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,326 shares of the financial services provider’s stock after acquiring an additional 10,837 shares during the period. Pasadena Private Wealth LLC owned 0.20% of NexPoint Residential Trust worth $1,684,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NXRT. AQR Capital Management LLC increased its stake in NexPoint Residential Trust by 175.9% during the 3rd quarter. AQR Capital Management LLC now owns 163,547 shares of the financial services provider’s stock worth $5,263,000 after acquiring an additional 104,270 shares during the period. Strs Ohio increased its stake in shares of NexPoint Residential Trust by 61.4% in the 4th quarter. Strs Ohio now owns 125,900 shares of the financial services provider’s stock valued at $4,334,000 after purchasing an additional 47,900 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of NexPoint Residential Trust by 41.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 145,379 shares of the financial services provider’s stock valued at $4,678,000 after purchasing an additional 42,789 shares during the last quarter. Paralel Advisors LLC bought a new position in shares of NexPoint Residential Trust in the 4th quarter valued at $1,139,000. Finally, Burford Brothers Inc. bought a new position in shares of NexPoint Residential Trust in the 4th quarter valued at $855,000. Institutional investors own 76.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on NXRT. Raymond James upgraded NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a research note on Friday, May 24th. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price target on shares of NexPoint Residential Trust in a research note on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $38.00 price target on shares of NexPoint Residential Trust in a research note on Tuesday, June 11th. Finally, Truist Financial boosted their price objective on NexPoint Residential Trust from $34.00 to $37.00 and gave the stock a “hold” rating in a research report on Monday. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $37.75.

NexPoint Residential Trust Price Performance

NXRT stock traded up $0.19 during midday trading on Friday, reaching $38.92. 2,918 shares of the stock were exchanged, compared to its average volume of 147,317. The stock has a market capitalization of $999.08 million, a PE ratio of 13.69, a P/E/G ratio of 1.13 and a beta of 1.33. NexPoint Residential Trust, Inc. has a 52 week low of $26.21 and a 52 week high of $49.87. The company has a debt-to-equity ratio of 2.90, a current ratio of 2.66 and a quick ratio of 2.66. The company has a fifty day moving average price of $36.09 and a 200 day moving average price of $33.27.

NexPoint Residential Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.4624 per share. The ex-dividend date is Friday, June 14th. This represents a $1.85 dividend on an annualized basis and a yield of 4.75%. This is a positive change from NexPoint Residential Trust’s previous quarterly dividend of $0.46. NexPoint Residential Trust’s payout ratio is currently 65.37%.

Insider Buying and Selling

In other NexPoint Residential Trust news, insider Brian Mitts sold 5,000 shares of NexPoint Residential Trust stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $34.25, for a total transaction of $171,250.00. Following the transaction, the insider now directly owns 66,947 shares of the company’s stock, valued at approximately $2,292,934.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.96% of the stock is currently owned by corporate insiders.

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.