Truist analyst Michael Lewis lowered the firm’s price target on NexPoint Residential to $40 from $43 and keeps a Hold rating on the shares. The analyst is citing expectations of lower projected same-store net operating income growth and higher net dispositions to contribute to de-levering activity. The stock is the worst performer in its apartment REIT coverage universe in 2023, but better values can be found elsewhere, the firm added.
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Read More on NXRT:
- 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%
- NEXPOINT RESIDENTIAL TRUST, INC. REPORTS THIRD QUARTER 2023 RESULTS
