Northwestern Mutual Wealth Management Co. decreased its stake in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT – Get Rating) by 7.8% during the first quarter, HoldingsChannel reports. The firm owned 3,103 shares of the financial services provider’s stock after selling 264 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in NexPoint Residential Trust were worth $280,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Swiss National Bank boosted its stake in shares of NexPoint Residential Trust by 8.2% during the 1st quarter. Swiss National Bank now owns 53,809 shares of the financial services provider’s stock valued at $4,859,000 after purchasing an additional 4,100 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in NexPoint Residential Trust by 9.0% during the first quarter. Teacher Retirement System of Texas now owns 4,722 shares of the financial services provider’s stock worth $426,000 after acquiring an additional 388 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in NexPoint Residential Trust by 2.5% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,583 shares of the financial services provider’s stock worth $865,000 after acquiring an additional 231 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in NexPoint Residential Trust during the first quarter worth about $570,000. Finally, Monarch Partners Asset Management LLC boosted its stake in NexPoint Residential Trust by 7.3% during the first quarter. Monarch Partners Asset Management LLC now owns 29,366 shares of the financial services provider’s stock worth $2,652,000 after acquiring an additional 2,009 shares in the last quarter. Institutional investors own 77.47% of the company’s stock.
NexPoint Residential Trust Stock Down 1.1 %
NXRT opened at $58.34 on Wednesday. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 3.30. The firm has a 50 day moving average price of $61.67 and a 200-day moving average price of $75.01. NexPoint Residential Trust, Inc. has a twelve month low of $57.49 and a twelve month high of $95.04. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 72.02, a PEG ratio of 2.47 and a beta of 1.01.
NexPoint Residential Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a dividend of $0.38 per share. The ex-dividend date is Wednesday, September 14th. This represents a $1.52 annualized dividend and a yield of 2.61%. NexPoint Residential Trust’s dividend payout ratio (DPR) is 187.65%.
Analyst Ratings Changes
NXRT has been the topic of several research reports. Janney Montgomery Scott raised shares of NexPoint Residential Trust from a “neutral” rating to a “buy” rating in a research note on Friday, August 12th. Credit Suisse Group initiated coverage on shares of NexPoint Residential Trust in a research note on Wednesday, June 22nd. They set an “outperform” rating and a $72.00 price objective on the stock. Compass Point set a $90.00 target price on shares of NexPoint Residential Trust in a report on Monday, June 20th. Raymond James reaffirmed a “downgrade” rating on shares of NexPoint Residential Trust in a report on Thursday, August 4th. Finally, Truist Financial decreased their target price on shares of NexPoint Residential Trust from $90.00 to $66.00 and set a “hold” rating for the company in a report on Friday, June 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $80.83.
Insider Activity at NexPoint Residential Trust
In other NexPoint Residential Trust news, President James D. Dondero bought 17,050 shares of the business’s stock in a transaction that occurred on Thursday, June 16th. The stock was bought at an average cost of $59.01 per share, for a total transaction of $1,006,120.50. Following the completion of the transaction, the president now owns 2,033,188 shares of the company’s stock, valued at approximately $119,978,423.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.69% of the stock is currently owned by company insiders.
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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