Truist Financial Corp cut its stake in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT – Get Rating) by 23.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 3,872 shares of the financial services provider’s stock after selling 1,154 shares during the quarter. Truist Financial Corp’s holdings in NexPoint Residential Trust were worth $349,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. First Trust Advisors LP boosted its stake in shares of NexPoint Residential Trust by 991.4% during the 4th quarter. First Trust Advisors LP now owns 48,391 shares of the financial services provider’s stock worth $4,057,000 after acquiring an additional 43,957 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of NexPoint Residential Trust by 1.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 104,149 shares of the financial services provider’s stock valued at $8,731,000 after purchasing an additional 1,780 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of NexPoint Residential Trust by 21.0% in the fourth quarter. Victory Capital Management Inc. now owns 29,253 shares of the financial services provider’s stock valued at $2,452,000 after purchasing an additional 5,072 shares in the last quarter. Legacy Wealth Asset Management LLC purchased a new stake in shares of NexPoint Residential Trust in the fourth quarter valued at $275,000. Finally, Advisor Group Holdings Inc. lifted its holdings in shares of NexPoint Residential Trust by 48.4% in the fourth quarter. Advisor Group Holdings Inc. now owns 18,239 shares of the financial services provider’s stock valued at $1,530,000 after purchasing an additional 5,949 shares in the last quarter. 77.47% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts have recently issued reports on the company. Compass Point set a $90.00 target price on NexPoint Residential Trust in a report on Monday, June 20th. Truist Financial reduced their target price on NexPoint Residential Trust from $90.00 to $66.00 and set a “hold” rating for the company in a report on Friday, June 24th. Credit Suisse Group began coverage on NexPoint Residential Trust in a report on Wednesday, June 22nd. They set an “outperform” rating and a $72.00 price objective for the company. BTIG Research began coverage on NexPoint Residential Trust in a report on Monday, May 9th. They set a “neutral” rating for the company. Finally, Jefferies Financial Group cut their price objective on NexPoint Residential Trust from $88.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, June 30th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, NexPoint Residential Trust has a consensus rating of “Moderate Buy” and an average target price of $80.83.
Insiders Place Their Bets
In other NexPoint Residential Trust news, President James D. Dondero bought 17,050 shares of the stock in a transaction on Thursday, June 16th. The shares were purchased at an average cost of $59.01 per share, with a total value of $1,006,120.50. Following the completion of the transaction, the president now directly owns 2,033,188 shares of the company’s stock, valued at approximately $119,978,423.88. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 12.69% of the company’s stock.
NexPoint Residential Trust Trading Up 5.5 %
NexPoint Residential Trust stock opened at $65.37 on Friday. The company has a debt-to-equity ratio of 3.14, a current ratio of 6.09 and a quick ratio of 6.10. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 67.39, a PEG ratio of 2.56 and a beta of 1.03. NexPoint Residential Trust, Inc. has a one year low of $57.49 and a one year high of $95.04. The company’s fifty day moving average price is $64.62 and its two-hundred day moving average price is $77.07.
NexPoint Residential Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.33%. The ex-dividend date is Wednesday, September 14th. NexPoint Residential Trust’s payout ratio is 156.70%.
NexPoint Residential Trust 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.
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