HSBC Holdings PLC reduced its position in NexPoint Residential Trust Inc. by 81.0% during the second quarter. The bank sold 56,935 shares according to its latest SEC filing.
HSBC now holds 13,320 shares valued at approximately $369,000. Institutional investors currently own 76.61% of the company's total stock.
NexPoint shares opened at $22.03 following a 3.7% decline. The stock is currently trading near its 52-week low of $22.00.
Six analysts issued a consensus Reduce rating with an average price target of $24.50. The company declared a quarterly dividend of $0.53 per share, representing an annualized yield of 9.6%.