Sun Sep 15 12:15:01 UTC 2024: ## New Jersey Pension Fund Cuts NexPoint Residential Trust Stake, Institutional Investors Remain Active

**TRENTON, NJ – September 15, 2024** – The State of New Jersey Common Pension Fund D reduced its stake in NexPoint Residential Trust, Inc. (NYSE: NXRT) by 37% during the second quarter, according to a recent SEC filing. The fund now holds 194,643 shares of the financial services provider, representing approximately 0.76% of the company, valued at $7.69 million.

This move comes amidst a flurry of activity by other institutional investors. Paralel Advisors LLC acquired a new position in NexPoint Residential Trust during the fourth quarter, valued at approximately $1.14 million, while Burford Brothers Inc. also entered a new position in the fourth quarter, worth $855,000.

TCW Group Inc. increased its stake in NexPoint Residential Trust by 24.4% during the second quarter, now holding 63,826 shares valued at $2.52 million. Pasadena Private Wealth LLC boosted its position by 26.1% during the first quarter, owning 52,326 shares worth $1.68 million. Bank of New York Mellon Corp also expanded its stake by 4% during the second quarter, now holding 244,264 shares valued at $9.65 million.

Overall, institutional investors and hedge funds currently own 76.61% of NexPoint Residential Trust stock.

NexPoint Residential Trust opened at $45.90 on Friday, with a market cap of $1.17 billion. The company has a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 1.36, and a beta of 1.38. It has a 52-week low of $26.21 and a 52-week high of $48.37. The company’s 50-day moving average price is $43.74, and its 200-day moving average price is $37.53.

NexPoint Residential Trust recently announced a quarterly dividend of $0.462, payable on September 30th, to shareholders of record on September 13th. This represents an annualized dividend of $1.85 and a yield of 4.03%. The ex-dividend date is September 13th.

Insider Brian Mitts sold 2,000 shares of the company’s stock on June 28th at an average price of $39.40, for a total value of $78,800. Following the sale, Mitts directly owns 65,696 shares of the company’s stock, valued at $2,588,422.40. Corporate insiders own 12.96% of the stock.

Several research analysts have weighed in on NexPoint Residential Trust. Compass Point raised their price objective from $45.00 to $55.00 and gave the stock a “buy” rating. Raymond James upgraded the stock from “underperform” to “market perform,” while Deutsche Bank Aktiengesellschaft raised their price objective from $38.00 to $44.00 and maintained a “hold” rating. JMP Securities also raised their price objective from $40.00 to $50.00 and gave the stock a “market outperform” rating. Finally, Truist Financial increased their price objective from $37.00 to $46.00 and maintained a “hold” rating.

Based on data from MarketBeat.com, NexPoint Residential Trust has an average analyst rating of “Hold” and a consensus target price of $46.20.

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