State of New Jersey Common Pension Fund D Acquires 12,404 Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT)

State of New Jersey Common Pension Fund D increased its stake in shares of NexPoint Residential Trust, Inc. (NYSE:NXRTFree Report) by 4.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 276,163 shares of the financial services provider’s stock after buying an additional 12,404 shares during the quarter. State of New Jersey Common Pension Fund D owned about 1.08% of NexPoint Residential Trust worth $8,887,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Asset Management One Co. Ltd. boosted its holdings in NexPoint Residential Trust by 3.3% in the second quarter. Asset Management One Co. Ltd. now owns 36,740 shares of the financial services provider’s stock valued at $1,671,000 after purchasing an additional 1,190 shares during the last quarter. Strs Ohio boosted its holdings in NexPoint Residential Trust by 1,525.0% in the third quarter. Strs Ohio now owns 78,000 shares of the financial services provider’s stock valued at $2,510,000 after purchasing an additional 73,200 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in NexPoint Residential Trust by 7.2% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,813 shares of the financial services provider’s stock valued at $1,174,000 after purchasing an additional 1,737 shares during the last quarter. Copeland Capital Management LLC boosted its stake in shares of NexPoint Residential Trust by 7.8% during the 3rd quarter. Copeland Capital Management LLC now owns 1,389,762 shares of the financial services provider’s stock worth $44,723,000 after acquiring an additional 100,430 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in shares of NexPoint Residential Trust during the 2nd quarter worth about $211,000. 78.31% of the stock is owned by hedge funds and other institutional investors.

NexPoint Residential Trust Stock Performance

NYSE:NXRT opened at $30.68 on Monday. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market capitalization of $787.56 million, a P/E ratio of 27.15, a PEG ratio of 0.99 and a beta of 1.29. The company has a 50 day moving average price of $32.96 and a 200 day moving average price of $33.27. NexPoint Residential Trust, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $52.33.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of NexPoint Residential Trust in a research note on Tuesday, January 30th. They set a “buy” rating and a $38.00 target price on the stock. Janney Montgomery Scott downgraded shares of NexPoint Residential Trust from a “buy” rating to a “neutral” rating and set a $36.00 price target for the company. in a research report on Wednesday, December 20th. StockNews.com upgraded shares of NexPoint Residential Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, Truist Financial reduced their price target on shares of NexPoint Residential Trust from $43.00 to $40.00 and set a “hold” rating for the company in a research report on Monday, December 18th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $42.25.

Check Out Our Latest Stock Analysis on NXRT

Insider Buying and Selling at NexPoint Residential Trust

In other news, CFO Brian Mitts sold 5,000 shares of NexPoint Residential Trust stock in a transaction on Monday, January 8th. The shares were sold at an average price of $33.74, for a total transaction of $168,700.00. Following the completion of the sale, the chief financial officer now directly owns 62,883 shares of the company’s stock, valued at approximately $2,121,672.42. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 12.97% of the stock is currently owned by corporate insiders.

About NexPoint Residential Trust

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for NexPoint Residential Trust (NYSE:NXRT)

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