Alliancebernstein L.P. Decreases Stock Position in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Alliancebernstein L.P. reduced its position in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) by 2.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 30,320 shares of the financial services provider’s stock after selling 608 shares during the quarter. Alliancebernstein L.P.’s holdings in NexPoint Residential Trust were worth $1,266,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its position in NexPoint Residential Trust by 104.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 894 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 456 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of NexPoint Residential Trust by 158.3% during the 4th quarter. Meeder Asset Management Inc. now owns 2,462 shares of the financial services provider’s stock valued at $103,000 after buying an additional 1,509 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of NexPoint Residential Trust by 8.6% in the 4th quarter. Van ECK Associates Corp now owns 4,237 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 336 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in NexPoint Residential Trust in the fourth quarter worth about $211,000. Finally, abrdn plc increased its stake in NexPoint Residential Trust by 30.6% during the fourth quarter. abrdn plc now owns 6,068 shares of the financial services provider’s stock worth $251,000 after acquiring an additional 1,423 shares during the last quarter. 76.61% of the stock is owned by hedge funds and other institutional investors.

NexPoint Residential Trust Price Performance

Shares of NXRT opened at $36.41 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25. The company has a market cap of $929.67 million, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 2.34 and a beta of 1.18. NexPoint Residential Trust, Inc. has a twelve month low of $30.98 and a twelve month high of $48.37. The company has a 50 day moving average of $38.47 and a two-hundred day moving average of $41.26.

NexPoint Residential Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 5.60%. The ex-dividend date of this dividend was Friday, March 14th. NexPoint Residential Trust’s dividend payout ratio is presently -20,400.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NXRT shares. Jefferies Financial Group raised their price objective on NexPoint Residential Trust from $41.00 to $43.00 and gave the company a “hold” rating in a research note on Monday, March 10th. Truist Financial raised their target price on shares of NexPoint Residential Trust from $41.00 to $42.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Raymond James cut their price target on NexPoint Residential Trust from $50.00 to $44.00 and set an “outperform” rating on the stock in a research note on Thursday, March 20th. Finally, StockNews.com downgraded shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.33.

Insider Transactions at NexPoint Residential Trust

In other news, insider Paul Richards bought 5,814 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average cost of $33.24 per share, with a total value of $193,257.36. Following the transaction, the insider now directly owns 18,493 shares in the company, valued at approximately $614,707.32. The trade was a 45.86 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 12.96% of the company’s stock.

NexPoint Residential Trust Company 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.