Brian Mitts Sells 2,000 Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) Stock

NexPoint Residential Trust, Inc. (NYSE:NXRT) insider Brian Mitts sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $39.40, for a total value of $78,800.00. Following the completion of the sale, the insider now owns 65,696 shares in the company, valued at approximately $2,588,422.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Brian Mitts also recently made the following trade(s):

• On Thursday, May 2nd, Brian Mitts sold 5,000 shares of NexPoint Residential Trust stock. The shares were sold at an average price of $34.25, for a total value of $171,250.00.

NexPoint Residential Trust Price Performance

Shares of NYSE NXRT opened at $38.63 on Friday. The firm has a market cap of $991.63 million, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 1.14 and a beta of 1.35. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 2.90. NexPoint Residential Trust, Inc. has a 1-year low of $26.21 and a 1-year high of $49.87. The business’s 50 day moving average is $36.72 and its 200-day moving average is $33.44.

NexPoint Residential Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.4624 per share. The ex-dividend date was Friday, June 14th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.79%. This is a positive change from NexPoint Residential Trust’s previous quarterly dividend of $0.46. NexPoint Residential Trust’s dividend payout ratio (DPR) is 65.37%.

Analyst Ratings Changes

NXRT has been the topic of several research analyst reports. Raymond James upgraded NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a research note on Friday, May 24th. Truist Financial upped their price objective on NexPoint Residential Trust from $34.00 to $37.00 and gave the company a “hold” rating in a research note on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $38.00 price objective on shares of NexPoint Residential Trust in a research note on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, NexPoint Residential Trust has an average rating of “Hold” and an average price target of $37.75.

Hedge Funds Weigh In On NexPoint Residential Trust

A number of large investors have recently made changes to their positions in NXRT. Envestnet Asset Management Inc. increased its stake in shares of NexPoint Residential Trust by 41.7% during the third quarter. Envestnet Asset Management Inc. now owns 145,379 shares of the financial services provider’s stock worth $4,678,000 after purchasing an additional 42,789 shares during the period. Quadrature Capital Ltd grew its position in NexPoint Residential Trust by 123.1% during the third quarter. Quadrature Capital Ltd now owns 13,621 shares of the financial services provider’s stock worth $438,000 after buying an additional 7,515 shares in the last quarter. AQR Capital Management LLC grew its position in NexPoint Residential Trust by 175.9% during the third quarter. AQR Capital Management LLC now owns 163,547 shares of the financial services provider’s stock worth $5,263,000 after buying an additional 104,270 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in NexPoint Residential Trust by 8.1% during the third quarter. Public Employees Retirement System of Ohio now owns 32,785 shares of the financial services provider’s stock worth $1,055,000 after buying an additional 2,449 shares in the last quarter. Finally, Pasadena Private Wealth LLC acquired a new stake in NexPoint Residential Trust during the fourth quarter worth approximately $1,428,000. Institutional investors own 76.61% 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.