Compass Point analyst Merrill Ross lowered the firm’s price target on NexPoint Residential to $45 from $55 and keeps a Buy rating on the shares after the company reported 2023 core FFO of $2.80, falling short of the firm’s $2.88 estimate. The firm is lowering its 2024 core FFO estimate from a preliminary projection of $2.99 to $2.83, which it notes is close to the top end of company guidance, while also lowering its net asset value estimate.
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 today’s best-performing stocks on TipRanks >>
Read More on NXRT:
- NexPoint Residential Trust, Inc. Announces Quarterly Dividend
- NEXPOINT RESIDENTIAL TRUST, INC. REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS
- NexPoint Residential reports Q4 AFFO 77c, consensus 88c
- NexPoint Residential Trust Announces 2023 Dividend Income Tax Treatment
- NexPoint Residential initiated with a Buy at Deutsche Bank