Short Interest in NexPoint Residential Trust, Inc. (NYSE:NXRT) Drops By 38.8%

NexPoint Residential Trust, Inc. (NYSE:NXRT) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 384,900 shares, a decrease of 38.8% from the August 15th total of 629,100 shares. Based on an average daily volume of 129,300 shares, the short-interest ratio is presently 3.0 days. Currently, 1.8% of the shares of the stock are short sold.

Analyst Ratings Changes

NXRT has been the subject of a number of research analyst reports. Compass Point increased their price objective on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the company a “hold” rating in a report on Tuesday. Raymond James raised shares of NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a report on Friday, May 24th. JMP Securities lifted their target price on NexPoint Residential Trust from $40.00 to $50.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. Finally, Truist Financial boosted their target price on NexPoint Residential Trust from $37.00 to $46.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $46.20.

NexPoint Residential Trust Stock Up 0.8 %

Shares of NYSE NXRT opened at $45.52 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 2.96. NexPoint Residential Trust has a 12-month low of $26.21 and a 12-month high of $48.37. The firm’s 50-day moving average price is $43.45 and its 200-day moving average price is $37.29. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 1.35 and a beta of 1.38.

NexPoint Residential Trust (NYSE:NXRT) last issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.29). The company had revenue of $64.24 million for the quarter, compared to analysts’ expectations of $64.99 million. NexPoint Residential Trust had a net margin of 32.93% and a return on equity of 17.69%. During the same quarter last year, the company earned $0.88 earnings per share. On average, equities research analysts anticipate that NexPoint Residential Trust will post 2.82 EPS for the current fiscal year.

NexPoint Residential Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a dividend of $0.462 per share. This represents a $1.85 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Friday, September 13th. NexPoint Residential Trust’s dividend payout ratio (DPR) is 65.37%.

Insider Transactions at NexPoint Residential Trust

In related news, insider Brian Mitts sold 2,000 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $39.40, for a total value of $78,800.00. Following the completion of the transaction, the insider now owns 65,696 shares of the company’s stock, valued at approximately $2,588,422.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.96% of the company’s stock.

Institutional Investors Weigh In On NexPoint Residential Trust

Several hedge funds and other institutional investors have recently made changes to their positions in NXRT. Van ECK Associates Corp grew its holdings in NexPoint Residential Trust by 7.3% during the 2nd quarter. Van ECK Associates Corp now owns 3,473 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 236 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of NexPoint Residential Trust by 4.1% during the second quarter. Federated Hermes Inc. now owns 9,094 shares of the financial services provider’s stock valued at $359,000 after buying an additional 359 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of NexPoint Residential Trust by 1.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 27,196 shares of the financial services provider’s stock valued at $875,000 after buying an additional 399 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of NexPoint Residential Trust by 1.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 47,286 shares of the financial services provider’s stock worth $1,521,000 after buying an additional 477 shares during the period. Finally, Graybill Wealth Management LTD. lifted its stake in shares of NexPoint Residential Trust by 0.7% during the 2nd quarter. Graybill Wealth Management LTD. now owns 67,986 shares of the financial services provider’s stock worth $2,686,000 after acquiring an additional 505 shares during the last quarter. Hedge funds and other institutional investors own 76.61% 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.