NexPoint Residential Trust (NYSE:NXRT) Director Brian Mitts Sells 15,000 Shares of Stock

NexPoint Residential Trust, Inc. (NYSE:NXRT) Director Brian Mitts sold 15,000 shares of the firm’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $17.07, for a total transaction of $256,050.00. Following the completion of the transaction, the director directly owned 45,289 shares of the company’s stock, valued at $773,083.23. This represents a 24.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

NexPoint Residential Trust Price Performance

NYSE:NXRT opened at $15.80 on Tuesday. The stock has a market capitalization of $403.64 million, a PE ratio of -10.75, a P/E/G ratio of 0.31 and a beta of 1.15. The company has a current ratio of 1.69, a quick ratio of 1.92 and a debt-to-equity ratio of 7.10. The firm has a fifty day simple moving average of $19.90 and a 200 day simple moving average of $25.51. NexPoint Residential Trust, Inc. has a 1-year low of $15.72 and a 1-year high of $32.36.

NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.04). NexPoint Residential Trust had a negative net margin of 14.59% and a negative return on equity of 14.29%. The firm had revenue of $64.47 million during the quarter, compared to the consensus estimate of $64.87 million. On average, research analysts expect that NexPoint Residential Trust, Inc. will post 2.23 EPS for the current fiscal year.

NexPoint Residential Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 13.4%. The ex-dividend date of this dividend is Tuesday, December 15th. NexPoint Residential Trust’s payout ratio is -144.22%.

Analysts Set New Price Targets

NXRT has been the topic of a number of research reports. Truist Financial decreased their price objective on NexPoint Residential Trust from $26.00 to $18.00 and set a “hold” rating on the stock in a report on Tuesday, September 29th. Deutsche Bank Aktiengesellschaft set a $23.00 price objective on shares of NexPoint Residential Trust in a research note on Wednesday, September 9th. Weiss Ratings raised shares of NexPoint Residential Trust from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, October 27th. Citigroup reiterated a “market perform” rating on shares of NexPoint Residential Trust in a research note on Thursday, August 20th. Finally, Zacks Research downgraded shares of NexPoint Residential Trust from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 13th. Three equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, NexPoint Residential Trust currently has a consensus rating of “Reduce” and a consensus price target of $20.50.

NexPoint Residential Trust News Summary

Here are the key news stories impacting NexPoint Residential Trust this week:

• Positive Sentiment: Insiders Paul Richards and Matt McGraner reported buying a combined 18,292 shares for about $302,319 across transactions from Nov. 5–9. The purchases increased their respective holdings and may signal confidence in NXRT’s prospects. SEC filing for Richards’ purchases SEC filing for McGraner’s purchases
• Negative Sentiment: Director Brian Mitts sold 15,000 shares for about $256,050, reducing his stake by nearly 25%. The sale could weigh on sentiment, although the insider buying was larger in aggregate. SEC filing for Mitts’ sale
• Negative Sentiment: Recent quarterly results missed expectations: NXRT reported EPS of ($0.45) versus consensus of ($0.41), while revenue also came in slightly below estimates. The stock is trading near its 52-week low, reinforcing the pressure on shares.

Hedge Funds Weigh In On NexPoint Residential Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP bought a new stake in NexPoint Residential Trust during the second quarter worth $33,000. Ameritas Advisory Services LLC bought a new stake in shares of NexPoint Residential Trust in the second quarter valued at $39,000. PNC Financial Services Group Inc. raised its stake in NexPoint Residential Trust by 29.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,723 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 397 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of NexPoint Residential Trust during the 2nd quarter valued at approximately $51,000. Finally, Signaturefd LLC lifted its position in shares of NexPoint Residential Trust by 183.0% during the third quarter. Signaturefd LLC now owns 3,456 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 2,235 shares in the last quarter. Institutional investors and hedge funds own 76.61% of the company’s stock.

About NexPoint Residential Trust

NexPoint Residential Trust, Inc (NYSE: NXRT) is a publicly traded real estate investment trust focused on acquiring, owning, operating and selectively renovating multifamily apartment communities. The company generally targets value-add properties, seeking to improve their operating performance and resident appeal through renovations, property management initiatives and other capital improvements.

NexPoint Residential Trust’s portfolio is concentrated primarily in the Southeastern and Southwestern United States.