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.
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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%
