Prudential Financial Inc. Trims Holdings in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Prudential Financial Inc. lessened its stake in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,575 shares of the financial services provider’s stock after selling 1,364 shares during the period. Prudential Financial Inc. owned about 0.09% of NexPoint Residential Trust worth $1,028,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its position in shares of NexPoint Residential Trust by 104.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 894 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 456 shares during the last quarter. Van ECK Associates Corp increased its holdings in NexPoint Residential Trust by 8.6% in the fourth quarter. Van ECK Associates Corp now owns 4,237 shares of the financial services provider’s stock valued at $177,000 after buying an additional 336 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in NexPoint Residential Trust during the fourth quarter valued at approximately $211,000. IHT Wealth Management LLC bought a new position in NexPoint Residential Trust during the 3rd quarter worth approximately $232,000. Finally, Quantinno Capital Management LP grew its position in shares of NexPoint Residential Trust by 4.1% in the 3rd quarter. Quantinno Capital Management LP now owns 6,059 shares of the financial services provider’s stock worth $267,000 after acquiring an additional 240 shares in the last quarter. 76.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

NexPoint Residential Trust Stock Down 7.7 %

NXRT stock opened at $35.64 on Monday. The stock has a market cap of $907.61 million, a PE ratio of 20.37, a price-to-earnings-growth ratio of 2.34 and a beta of 1.17. The firm’s 50-day simple moving average is $39.62 and its 200 day simple moving average is $42.02. NexPoint Residential Trust, Inc. has a fifty-two week low of $30.73 and a fifty-two week high of $48.37. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25.

NexPoint Residential Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.51 per share. The ex-dividend date was Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.72%. NexPoint Residential Trust’s dividend payout ratio (DPR) is presently -20,400.00%.

NexPoint Residential Trust 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.