Legal & General Group Plc Lowers Stock Holdings in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Legal & General Group Plc lowered its stake in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 10.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 151,380 shares of the financial services provider’s stock after selling 17,950 shares during the period. Legal & General Group Plc owned 0.60% of NexPoint Residential Trust worth $6,320,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

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

NexPoint Residential Trust Stock Performance

Shares of NXRT opened at $36.41 on Friday. The firm has a market capitalization of $929.67 million, a P/E ratio of 20.81, a PEG ratio of 2.34 and a beta of 1.18. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.79 and a quick ratio of 1.79. NexPoint Residential Trust, Inc. has a one year low of $30.98 and a one year high of $48.37. The business has a fifty day moving average of $38.47 and a 200 day moving average of $41.25.

NexPoint Residential Trust Announces Dividend

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

Insider Activity

In other NexPoint Residential Trust news, insider Paul Richards purchased 5,814 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were acquired at an average price of $33.24 per share, for a total transaction of $193,257.36. Following the purchase, the insider now directly owns 18,493 shares of the company’s stock, valued at $614,707.32. The trade was a 45.86 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.