Janney Montgomery Scott analyst Robert Stevenson downgraded NexPoint Residential to Neutral from Buy with a $36 fair value estimate. While the firm likes the lower price-point of NexPoint’s assets within its core Sunbelt markets, Janney is lowering its 2024 and 2025 FFOPS estimates given a weaker expected apartment operating environment in the first half of 2024.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on NXRT:
- NexPoint Residential price target lowered to $40 from $43 at Truist
- NexPoint Residential price target lowered to $40 from $55 at JMP Securities
- NexPoint Residential price target lowered to $55 from $60 at Compass Point
- NexPoint Residential reports Q3 adjusted FFO 76c, consensus 85c
- NexPoint Residential Trust, Inc. Increases Quarterly Dividend by 10.1%