NexPoint Residential Trust, Inc. (NYSE:NXRT) Short Interest Up 16.3% in January

NexPoint Residential Trust, Inc. (NYSE:NXRT) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 363,400 shares, an increase of 16.3% from the January 15th total of 312,500 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average daily trading volume, of 111,300 shares, the days-to-cover ratio is currently 3.3 days.

Institutional Trading of NexPoint Residential Trust

A number of hedge funds have recently made changes to their positions in the business. Creative Planning raised its holdings in NexPoint Residential Trust by 3.0% in the 3rd quarter. Creative Planning now owns 11,785 shares of the financial services provider’s stock valued at $519,000 after acquiring an additional 341 shares in the last quarter. Graybill Wealth Management LTD. grew its position in NexPoint Residential Trust by 1.1% during the 3rd quarter. Graybill Wealth Management LTD. now owns 68,714 shares of the financial services provider’s stock worth $3,024,000 after acquiring an additional 728 shares during the last quarter. Narwhal Capital Management grew its position in NexPoint Residential Trust by 8.3% during the 3rd quarter. Narwhal Capital Management now owns 62,089 shares of the financial services provider’s stock worth $2,733,000 after acquiring an additional 4,738 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in NexPoint Residential Trust by 34.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 900 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 232 shares during the last quarter. Finally, abrdn plc bought a new stake in NexPoint Residential Trust during the 3rd quarter worth $204,000. 76.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on NXRT shares. Raymond James upgraded NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a report on Monday, October 21st. StockNews.com downgraded NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $49.00.

NexPoint Residential Trust Stock Performance

Shares of NXRT traded down $0.49 during mid-day trading on Monday, reaching $40.17. The company’s stock had a trading volume of 76,190 shares, compared to its average volume of 88,611. NexPoint Residential Trust has a 1-year low of $28.20 and a 1-year high of $48.37. The stock has a market cap of $1.02 billion, a P/E ratio of 22.95, a PEG ratio of 2.40 and a beta of 1.42. The business has a 50-day simple moving average of $40.83 and a two-hundred day simple moving average of $43.39. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 3.25.

NexPoint Residential Trust Company Profile

NexPoint Residential Trust is a publicly traded REIT, with its shares listed on the New York Stock Exchange under the symbol “NXRT,” primarily focused on acquiring, owning and operating well-located middle-income multifamily properties with “value-add” potential in large cities and suburban submarkets of large cities, primarily in the Southeastern and Southwestern United States.