NexPoint Residential Trust Inc (NYSE:NXRT) President James D. Dondero sold 647,063 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $24.26, for a total value of $15,697,748.38. Following the transaction, the president now owns 149,453 shares of the company’s stock, valued at $3,625,729.78. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
NXRT stock opened at $24.97 on Friday. NexPoint Residential Trust Inc has a 1-year low of $22.21 and a 1-year high of $52.87. The company has a debt-to-equity ratio of 3.29, a current ratio of 2.78 and a quick ratio of 2.78. The company has a market capitalization of $566.72 million, a price-to-earnings ratio of 6.17, a PEG ratio of 0.80 and a beta of 0.43. The business has a 50 day simple moving average of $43.99 and a two-hundred day simple moving average of $46.28.
NexPoint Residential Trust (NYSE:NXRT) last posted its quarterly earnings results on Tuesday, February 18th. The financial services provider reported ($0.53) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($1.06). NexPoint Residential Trust had a return on equity of 28.37% and a net margin of 54.74%. The business had revenue of $49.68 million during the quarter, compared to the consensus estimate of $50.51 million. Sell-side analysts anticipate that NexPoint Residential Trust Inc will post 2.3 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $0.313 dividend. This represents a $1.25 annualized dividend and a yield of 5.01%. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 13th. NexPoint Residential Trust’s dividend payout ratio is presently 56.82%.
A number of hedge funds have recently bought and sold shares of NXRT. First Trust Advisors LP boosted its stake in NexPoint Residential Trust by 1.7% in the 1st quarter. First Trust Advisors LP now owns 42,037 shares of the financial services provider’s stock worth $1,612,000 after purchasing an additional 695 shares during the period. Amundi Pioneer Asset Management Inc. boosted its stake in NexPoint Residential Trust by 7.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 47,816 shares of the financial services provider’s stock worth $1,833,000 after purchasing an additional 3,181 shares during the period. State Street Corp boosted its stake in NexPoint Residential Trust by 2.4% in the 3rd quarter. State Street Corp now owns 454,659 shares of the financial services provider’s stock worth $21,260,000 after purchasing an additional 10,586 shares during the period. California State Teachers Retirement System boosted its stake in NexPoint Residential Trust by 2.0% in the 3rd quarter. California State Teachers Retirement System now owns 29,491 shares of the financial services provider’s stock worth $1,379,000 after purchasing an additional 569 shares during the period. Finally, Barclays PLC boosted its stake in NexPoint Residential Trust by 7.6% in the 3rd quarter. Barclays PLC now owns 50,175 shares of the financial services provider’s stock worth $2,346,000 after purchasing an additional 3,563 shares during the period. Institutional investors and hedge funds own 73.69% of the company’s stock.
A number of research analysts recently issued reports on NXRT shares. Zacks Investment Research upgraded NexPoint Residential Trust from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Wednesday. Raymond James boosted their price objective on NexPoint Residential Trust from $52.00 to $58.00 and gave the company an “outperform” rating in a research note on Monday, February 24th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $46.36.
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.
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