NexPoint Residential Trust (NXRT) PT Lowered to $34 at Truist Securities

Truist Securities analyst Michael Lewis lowered the price target on NexPoint Residential Trust (NYSE: NXRT) to $34.00 (from $35.00) while maintaining a Hold rating.

The analyst commented: "We are slightly raising our 2024 NFFO estimate, lowering our 2025 estimate, and lowering our PT by $1 to $34 (was $35). We think Sunbelt-focused peers CPT (Buy) and MAA (Buy) are the two most attractive apartment REIT stocks in our coverage universe for the next 12 months. NXRT’s portfolio is in the same region, but we view the stock very differently because its high financial leverage (and G&A expense as a percentage of revenue) means it cannot convert NOI into cashflow as efficiently. We expect NXRT’s earnings to decline in coming years, as $1.2 billion of interest rate swaps mature through 3Q26."

You May Also Be Interested In

• CubeSmart (CUBE) PT Raised to $45 at Citi
• Pernod Ricard SA (RI:FP) (PDRDY) PT Lowered to EUR165 at Citi
• JPMorgan Upgrades Aussie Broadband (ABB:AU) to Neutral