NexPoint Residential Trust (NXRT)
Renovates Class B Sun Belt apartments to lift rents under external NexPoint management.
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Owns and renovates Class B apartment communities across Sun Belt metros, lifting rents through interior upgrades while an external adviser tied to the NexPoint platform runs acquisitions and asset management.
Owns and renovates Class B 'workforce' apartment communities in fast-growing Sun Belt metros — Phoenix, Atlanta, Dallas-Fort Worth, South Florida among them — targeting renters priced out of new luxury supply. Interior upgrades to kitchens, appliances, and technology lift rents after each unit turns, pursuing development-like returns without development risk.
An external adviser tied to the broader NexPoint investment platform handles acquisitions and asset management, while a third-party operator runs property management. The adviser also sponsors sibling public REITs pursuing diversified and commercial-mortgage strategies, sharing personnel and fees across the group.
REIT tax election requires distributing most taxable income to shareholders, and multifamily financing runs largely through Fannie Mae and Freddie Mac programs. Sun Belt concentration ties results to regional supply, employment, and weather. The portfolio traces to a 2015 spin-off from a Highland Capital-sponsored closed-end fund.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 9, 2026 | Deutsche Bank | Target | Target: $18 | Target: $23 |
| Jul 20, 2026 | Deutsche Bank | Target | Target: $38 | Target: $18 |
| Jun 30, 2026 | Truist Financial | Target | Target: $27 | Target: $26 |
| Mar 11, 2026 | Truist Financial | Target | Target: $30 | Target: $27 |
| Feb 27, 2026 | Raymond James | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $14.6M · Total debt $1.59B · Total assets $1.88B · Shareholders' equity $247.9M
- Revenue
- $64.6M
- Operating income
- $7.1M
- Net income
- −$8.6M
HistoryDividendAnnual yield
| Institutions | 82.47% | 21.07M shares | |
|---|---|---|---|
| 231 holders · as of Jun 30, 2026 | |||
| Insiders | 15.44% | 3.94M shares | |
| 10 holders · as of May 27, 2026 | |||
| Other | 2.09% | 534.0K shares | |
| remainder | |||
25.55M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 16.65% | 4.25M | as of Jun 30, 2026 |
James D. Dondero1Insiderdirector, 10 percent owner, officer: President | 13.08% | 3.27M | filed May 27, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.34% | 1.36M | as of Jun 30, 2026 |
Goldman Sachs Group IncInstitution | 4.99% | 1.27M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.29% | 1.10M | as of Jun 30, 2026 |
- James D. Dondero's transaction reports restate only vehicles that traded; the 2026 ownership statement (3.27M) plus the 70.4K net shares acquired since is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 19, 2026 | Paul Richards | officer: See Remarks | +1,500 | $24.81 |
| Mar 20, 2026 | Paul Richards | officer: See Remarks | +200 | $24.11 |
| Mar 20, 2026 | Matt McGraner | officer: See Remarks | +2,000 | $24.37 |
| Mar 11, 2026 | Matt McGraner | officer: See Remarks | +1,000 | $26.14 |
| Mar 9, 2026 | Matt McGraner | officer: See Remarks | +1,000 | $26.39 |
- Independence Realty Trust
Runs a parallel Sun Belt/Midwest Class B value-add renovation program
- Mid-America Apartment Communities
S&P 500-scale Sun Belt REIT spanning Class A and Class B tiers
- Camden Property Trust
Larger Sun Belt multifamily REIT mixing Class A/B with active development
- UDR
Larger, coastal-tilted diversified REIT with a Sun Belt slice
- American Homes 4 Rent
Contests the same Sun Belt renter budgets via large-scale SFR homes
- Invitation Homes
Contests renter budgets as the largest single-family rental REIT
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| NexPoint Residential Trust | $21.68 | +1.45% | $543.1M | — | — | 2.1 | +2.4% |
| Independence Realty Trust | $14.84 | +1.19% | $3.46B | 79.9 | 69.2 | 5.2 | +3.2% |
| Mid-America Apartment Communities | $119.74 | +0.74% | $13.83B | 34.8 | 38.2 | 6.2 | +1.0% |
| Camden Property Trust | $99.79 | +0.98% | $9.93B | 32.8 | 105.3 | 6.3 | −0.9% |
| UDR | $34.27 | +1.12% | $10.89B | 21.6 | 58.3 | 6.3 | −0.0% |
| American Homes 4 Rent | $31.38 | +0.43% | $11.22B | 24.8 | 40.9 | 6.0 | +2.8% |
| Invitation Homes | $27.18 | +0.37% | $16.09B | 24.8 | 36.4 | 5.6 | +9.7% |
| Median | 28.8 | 49.6 | 6.1 | +1.9% |