Recent insider purchases at NexPoint Residential Trust and Gladstone Commercial were partly offset by a director's sale at NexPoint. Across four specified filings, gross purchases of approximately $388,583 fell to a net purchase balance of $132,533 after the sale. The difference shows why a list of buyers alone can give an incomplete picture.
This is a case comparison of two US listed equity REITs, not a representative survey of property companies. It covers the purchase and sale rows in the linked filings with transaction dates from November 5 through November 9, 2026, reviewed on November 11. Other issuers and unreviewed filings are outside the sample. Their absence is not evidence of no activity.
Gross buying and net exposure tell different stories
| Issuer and person | Transaction dates | Code and shares | Calculated US dollar value |
|---|---|---|---|
| NexPoint Matt McGraner | November 5 and 6 | P purchase 11,992 | $199,265.76 |
| NexPoint Paul Richards | November 5, 6 and 9 | P purchase 6,300 | $103,053.00 |
| NexPoint Brian Mitts | November 5 | S sale 15,000 | $256,050.00 |
| Gladstone Gary Gerson | November 9 | P purchase 8,550 | $86,264.37 |
The sources are the original filings for McGraner, Richards, Mitts and Gerson. Values sum each row's shares multiplied by its reported price. Weighted averages can introduce rounding and the calculations exclude undisclosed costs.
There are three buyers, one seller and two issuers across seven transaction rows. Multiple rows for one buyer do not create additional independent buyers. None of these forms marks the transactions as made under a prearranged trading plan. Holdings disclosed in separate direct or indirect ownership lines are balances, not extra purchases.
NexPoint contributes $302,318.76 of gross purchases but also the entire $256,050 sampled sale. Its net purchase balance is $46,268.76. Gladstone contributes $86,264.37 of purchases and no sale in the specified Gerson filing. That last observation is limited to the filing, not every Gladstone insider.
The properties are not interchangeable
NexPoint describes a multifamily strategy focused primarily on the US Sun Belt. Gladstone describes industrial and office properties under net leases. Their common REIT structure does not make their tenant demand, lease duration or financing risks identical.
For residential property, occupancy and rent growth help test operating resilience. For industrial and office assets, lease renewals, tenant credit and vacancy costs can matter differently. Insider purchases at both companies therefore cannot establish a shared forecast for all property types or interest rates.
A positive sample is not a sector turning point
The sample was selected for a comparison of recent accessible disclosures. It is not random, exhaustive or weighted by company size, and no matched historical period was assembled. It cannot establish that sector buying accelerated or that most REIT insiders are buyers.
The next useful test is broader issuer participation over a consistent window, with sales, compensation transactions and reporting delays treated consistently. Until then, these filings document differing personal exposure decisions inside two businesses, while property cash flows and debt costs remain central to assessing their shares.
Illustrative aerial photograph of Dallas apartments in 2016, not identified as assets of either REIT. Photograph by Alfred Twu, released under CC0.
