Citizens JMP downgraded NexPoint Residential (NXRT) to Market Perform from Outperform. NexPoint is performance well and beat Q1 core funds from operations expectations significantly, but believes balance sheet risk is becoming a more significant concern every quarter, the analyst tells investors in a research note. Once swaps roll off, the firm thinks FFO could be diluted by about $1.15 per share, representing a deterioration of earnings in the 40% range.
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Read More on NXRT:
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