Prudential Financial Inc. Sells 52,410 Shares of NexPoint Residential Trust Inc (NXRT)
Prudential Financial Inc. cut its position in NexPoint Residential Trust Inc (NASDAQ:NXRT) by 41.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,990 shares of the company’s stock after selling 52,410 shares during the quarter. Prudential Financial Inc. owned about 0.35% of NexPoint Residential Trust worth $1,816,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can boosted its stake in NexPoint Residential Trust by 0.3% in the 2nd quarter. Great West Life Assurance Co. Can now owns 10,225 shares of the company’s stock valued at $254,000 after purchasing an additional 29 shares during the period. American International Group Inc. boosted its stake in NexPoint Residential Trust by 7.1% in the 1st quarter. American International Group Inc. now owns 11,059 shares of the company’s stock valued at $267,000 after purchasing an additional 731 shares during the period. Virginia Retirement Systems ET AL bought a new stake in NexPoint Residential Trust in the 1st quarter valued at $348,000. Alliancebernstein L.P. boosted its stake in NexPoint Residential Trust by 17.6% in the 1st quarter. Alliancebernstein L.P. now owns 14,930 shares of the company’s stock valued at $361,000 after purchasing an additional 2,230 shares during the period. Finally, Menta Capital LLC bought a new stake in NexPoint Residential Trust in the 1st quarter valued at $468,000.
NXRT has been the subject of several analyst reports. Zacks Investment Research raised NexPoint Residential Trust from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Wednesday, July 5th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of NexPoint Residential Trust in a report on Wednesday, August 2nd. Canaccord Genuity set a $28.00 price objective on NexPoint Residential Trust and gave the company a “buy” rating in a report on Tuesday, August 1st. BidaskClub raised NexPoint Residential Trust from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Finally, Janney Montgomery Scott initiated coverage on NexPoint Residential Trust in a report on Friday, September 8th. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. NexPoint Residential Trust currently has an average rating of “Hold” and an average target price of $28.00.
NexPoint Residential Trust Inc (NASDAQ NXRT) opened at 23.73 on Friday. The firm has a market capitalization of $499.35 million and a PE ratio of 45.11. NexPoint Residential Trust Inc has a one year low of $16.67 and a one year high of $24.42. The firm has a 50-day moving average price of $23.69 and a 200 day moving average price of $23.69.
NexPoint Residential Trust (NASDAQ:NXRT) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). NexPoint Residential Trust had a net margin of 28.18% and a return on equity of 14.15%. The firm had revenue of $35.23 million for the quarter, compared to the consensus estimate of $35.95 million. During the same period last year, the company posted $0.37 earnings per share. NexPoint Residential Trust’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts anticipate that NexPoint Residential Trust Inc will post ($0.10) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date was Thursday, September 14th.
In related news, insider James D. Dondero purchased 2,000 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was purchased at an average cost of $23.30 per share, with a total value of $46,600.00. Following the completion of the acquisition, the insider now directly owns 30,725 shares of the company’s stock, valued at $715,892.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James D. Dondero purchased 12,600 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was bought at an average cost of $23.81 per share, with a total value of $300,006.00. Following the completion of the acquisition, the insider now directly owns 5,202 shares of the company’s stock, valued at $123,859.62. The disclosure for this purchase can be found here. Insiders bought 57,500 shares of company stock valued at $1,387,418 over the last ninety days.
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About NexPoint Residential Trust
NexPoint Residential Trust, Inc is an externally managed real estate investment trust (REIT). The Company’s investment objectives are to maximize the cash flow and value of properties owned, acquire properties with cash flow growth potential, provide quarterly cash distributions and achieve long-term capital appreciation for its stockholders through targeted management and a value-add program.
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