Truist raised the firm’s price target on NexPoint Residential to $49 from $46 but keeps a Hold rating on the shares. The analyst sees lower FFO in 2023 but higher FFO in out year on lower anticipated market interest rates. The firm is also taking a "conservative view" on market rent growth and occupancy across its apartment coverage universe, with rising interest expense expected to sap earnings growth for NexPoint as its hedges expire through 2026.
Published first on TheFly
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