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Stock impact report

Raymond James upgrades Essex Property Trust and Equity Residential [Seeking Alpha]

NexPoint Residential Trust, Inc. (NXRT) 
Last nexpoint residential trust, inc. earnings: 2/18 07:00 am Check Earnings Report
US:NYSE Investor Relations: nexpointliving.com
Company Research Source: Seeking Alpha
The upgrades come after the recent mid-quarter operating updates posted by several multifamily REITs during the March conference season. Raymond James also downgraded AIR Communities ( NYSE: AIRC ) to Market Perform and NexPoint Residential ( NYSE: NXRT ) to Underperform, with the former primarily related to investor confusion over last year's debt refinancing costs, and the latter tied to concerns that Sun Belt supply pressure. The analysts at Raymond James also added NXRT's FFO results could be under pressure well into 2025, due to “higher for longer” interest rate outlook. Raymond James, however, maintained its Underweight sector recommendation on multifamily relative to other REIT property types, due to its continuing concerns over the daunting level of new supply deliveries expected through 2024, and valuations that still screen relatively expensive to the analysts. "Fortunately, a remarkably resilient economy has led to stronger than expected household formation and mul Show less Read more
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