Notable News Spotlight: NexPoint Residential Trust (NYSE:NXRT)

NexPoint Residential Trust (NYSE:NXRT) stock reported trading -26.12% off 52-week high price. On the other end, the stock has been noted 21.49% away from low price over the last 52-weeks. The stock disclosed a move of -17.85% away from 50 day moving average and -14.50% away from 200 day moving average. Moving closer, we can see that shares have been trading -17.74% off 20-day moving average. It has market cap of $995.25M and dividend yield of 3.20%.

On March 13, 2020, NexPoint Residential Trust (NYSE:NXRT) released that its Board of Directors authorized an increase in its previously announced share repurchase program from $40.0 million to $100.0 million of its common stock. There is approximately $75.0 million available to repurchase shares of its common stock.

The repurchase program was first announced on June 15, 2016 and originally authorized the repurchase of $30.0 million of common stock. As a result of the update, the authorization now expires on March 12, 2023. NXRT may utilize various methods to affect the repurchases, and the timing and extent of the repurchases will depend upon several factors, including market and business conditions, regulatory requirements and other corporate considerations, including whether NXRT’s common stock is trading at a significant discount to net asset value per share. Repurchases under this program may be discontinued at any time.

The USA based company NexPoint Residential Trust moved with change of 16.01% to $39.06 with the total traded volume of 466562 shares in recent session versus to an average volume of 315.09K shares. The stock was observed in the 5 days activity at -19.33%. The one month performance of stock was -22.41%. NXRT’s shares are at -17.54% for the quarter and driving a 10.28% return over the course of the past year and is now at -13.20% since this point in 2018.  Right now the stock beta is 0.46. The average volatility for the week and month was at 13.44% and 6.04% respectively. There are 25.48M shares outstanding and 22.82M shares are floated in market.

Leave a Reply

Your email address will not be published. Required fields are marked *