NexPoint Residential Trust Inc (NASDAQ:NXRT) Insider Acquires $1,017,332.00 in Stock
NexPoint Residential Trust Inc (NASDAQ:NXRT) insider James D. Dondero purchased 41,900 shares of NexPoint Residential Trust stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average cost of $24.28 per share, for a total transaction of $1,017,332.00. Following the completion of the purchase, the insider now owns 5,202 shares of the company’s stock, valued at $126,304.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of NexPoint Residential Trust Inc (NXRT) traded down 1.57% during midday trading on Monday, reaching $23.81. The company had a trading volume of 110,613 shares. NexPoint Residential Trust Inc has a 1-year low of $16.67 and a 1-year high of $26.10. The firm’s 50 day moving average price is $25.17 and its 200-day moving average price is $24.39. The stock has a market capitalization of $501.03 million and a price-to-earnings ratio of 45.27.
NexPoint Residential Trust (NASDAQ:NXRT) last issued its earnings results on Tuesday, August 1st. The company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.02. The firm had revenue of $35.23 million for the quarter, compared to the consensus estimate of $35.95 million. NexPoint Residential Trust had a net margin of 28.18% and a return on equity of 14.15%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. Equities research analysts expect that NexPoint Residential Trust Inc will post ($0.47) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Thursday, September 14th.
Several brokerages recently weighed in on NXRT. Zacks Investment Research cut NexPoint Residential Trust from a “hold” rating to a “strong sell” rating in a research note on Friday. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of NexPoint Residential Trust in a research note on Wednesday, August 2nd. Finally, Canaccord Genuity set a $28.00 price target on NexPoint Residential Trust and gave the stock a “buy” rating in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $25.75.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NXRT. OMERS ADMINISTRATION Corp bought a new position in NexPoint Residential Trust during the first quarter valued at approximately $215,000. Great West Life Assurance Co. Can raised its position in NexPoint Residential Trust by 0.3% in the second quarter. Great West Life Assurance Co. Can now owns 10,225 shares of the company’s stock valued at $254,000 after buying an additional 29 shares during the last quarter. American International Group Inc. raised its position in NexPoint Residential Trust by 7.1% in the first quarter. American International Group Inc. now owns 11,059 shares of the company’s stock valued at $267,000 after buying an additional 731 shares during the last quarter. Virginia Retirement Systems ET AL bought a new position in NexPoint Residential Trust during the first quarter valued at approximately $348,000. Finally, Alliancebernstein L.P. raised its position in NexPoint Residential Trust by 17.6% in the first quarter. Alliancebernstein L.P. now owns 14,930 shares of the company’s stock valued at $361,000 after buying an additional 2,230 shares during the last quarter.
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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