In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Nexpoint Residential Trust Inc. (NYSE:NXRT) reported that Highland Capital Management has picked up 2,038,778 of common stock as of 2017-04-17.
The acquisition brings the aggregate amount owned by Highland Capital Management to a total of 2,038,778 representing approximately 9.69% stake in the company.
For those not familiar with the company, 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. The Company is focused on multifamily investments primarily located in the Southeastern and Southwestern United States. All of the Company’s business operations are conducted through NexPoint Residential Trust Operating Partnership, L.P. (OP). The sole limited partner of the OP is the Company. Its subsidiary, NexPoint Residential Trust Operating Partnership GP, LLC, is the sole general partner of the OP. As of December 31, 2016, the Company owned 39 properties representing 12,965 units in eight states, including two Parked Assets. The Company’s advisor is NexPoint Real Estate Advisors, L.P.
A glance at Nexpoint Residential Trust Inc. (NYSE:NXRT)’s key stats reveals a current market capitalization of 525.04 Million based on 21.04 Million shares outstanding and a price at last close of $25.01 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-05-19, Constantino picked up 7,245 at a purchase price of $13.91. This brings their total holding to 19,420 as of the date of the filing.
On the sell side, the most recent transaction saw Mitts unload 200 shares at a sale price of $19.36. This brings their total holding to 1,125.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Nexpoint Residential Trust Inc. (NYSE:NXRT) as things move forward to see if its progress aligns with these transactions.
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