Metropolitan Life Insurance Co. NY Sells 12 Shares of NexPoint Residential Trust Inc (NXRT)

Metropolitan Life Insurance Co. NY reduced its position in shares of NexPoint Residential Trust Inc (NASDAQ:NXRT) by 0.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,237 shares of the company’s stock after selling 12 shares during the period. Metropolitan Life Insurance Co. NY owned 0.07% of NexPoint Residential Trust worth $344,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of NXRT. OMERS ADMINISTRATION Corp bought a new stake in shares of NexPoint Residential Trust during the first quarter worth about $215,000. American International Group Inc. increased its stake in shares of NexPoint Residential Trust by 7.1% in the first quarter. American International Group Inc. now owns 11,059 shares of the company’s stock worth $267,000 after buying an additional 731 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in shares of NexPoint Residential Trust during the first quarter worth about $348,000. Alliancebernstein L.P. increased its stake in shares of NexPoint Residential Trust by 17.6% in the first quarter. Alliancebernstein L.P. now owns 14,930 shares of the company’s stock worth $361,000 after buying an additional 2,230 shares in the last quarter. Finally, Menta Capital LLC bought a new stake in shares of NexPoint Residential Trust during the first quarter worth about $468,000.

NexPoint Residential Trust Inc (NASDAQ:NXRT) traded up 1.33% during mid-day trading on Monday, hitting $23.60. The stock had a trading volume of 12,622 shares. The company has a market cap of $496.61 million and a PE ratio of 44.87. NexPoint Residential Trust Inc has a one year low of $16.67 and a one year high of $26.10. The firm’s 50-day moving average price is $24.59 and its 200 day moving average price is $24.42.

NexPoint Residential Trust (NASDAQ:NXRT) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The company had revenue of $35.23 million during 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%. NexPoint Residential Trust’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 EPS. On average, equities research analysts anticipate that NexPoint Residential Trust Inc will post ($0.13) EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.78%. The ex-dividend date is Thursday, September 14th.

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A number of brokerages recently issued reports on NXRT. Zacks Investment Research downgraded NexPoint Residential Trust from a “hold” rating to a “strong sell” rating in a research report on Friday, August 4th. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of NexPoint Residential Trust in a research report 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 report 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’s stock. NexPoint Residential Trust presently has a consensus rating of “Buy” and a consensus price target of $25.75.

In related news, insider James D. Dondero acquired 12,600 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was acquired at an average price of $23.81 per share, with a total value of $300,006.00. Following the purchase, the insider now directly owns 5,202 shares in the company, valued at $123,859.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James D. Dondero acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average cost of $23.30 per share, with a total value of $46,600.00. Following the purchase, the insider now owns 30,725 shares in the company, valued at $715,892.50. The disclosure for this purchase can be found here. In the last three months, insiders purchased 56,500 shares of company stock valued at $1,363,938.

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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