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Director Arthur Laffer of Nexpoint Diversified Real Estate Trust (EXCHANGE:NXDT), a $216 million market cap real estate trust that has delivered a 12% return in the past week, recently purchased shares of the company’s common stock, according to a Form 4 filing. On July 2nd, Laffer acquired 5,000 shares, and on July 7th, he acquired 5,250 shares. According to InvestingPro data, the stock’s RSI indicates overbought conditions.
The purchases were executed at weighted average prices. The prices for the shares purchased on July 2nd ranged from $4.66 to $4.67, while the prices for the shares purchased on July 7th ranged from $4.60 to $4.63. The total value of the purchases amounted to $47,657.
Following these transactions, Laffer directly owns 86,737 shares of Nexpoint Diversified Real Estate Trust. He also indirectly owns 101,874 shares through a limited liability company. The company maintains a notable 12.8% dividend yield and has sustained dividend payments for 19 consecutive years. For more detailed insider trading analysis and additional insights, check out InvestingPro, which offers 8 more key tips about NXDT.
In other recent news, NexPoint Diversified Real Estate Trust has applied to the Ontario Securities Commission to cease being a reporting issuer in Canada. This move follows its merger with NexPoint Hospitality Trust, which initially made it a reporting issuer in Canada. If approved, NexPoint would no longer need to file financial statements and other continuous disclosure documents under Canadian securities laws, although its obligations in the United States remain unchanged. Canadian shareholders will still have access to the same financial statements and disclosure documents as U.S. shareholders, maintaining compliance with U.S. securities laws.
Additionally, NexPoint has filed a Current Report on Form 8-K to correct typographical errors in its definitive proxy statement/prospectus ahead of its annual meeting of shareholders. The meeting will address proposals such as converting the company’s jurisdiction and form of organization from a Delaware statutory trust to a Maryland corporation. Corrections have been made to clarify the overhang rate, a measure of potential dilution, which stands at 4.2% on a fully diluted basis, or 6.1% if the new share request is included. The company has begun mailing the corrected proxy statement to shareholders, urging them to review it carefully.
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