NexPoint Residential price target lowered to $34 from $38 at Truist

Truist analyst Michael Lewis lowered the firm’s price target on NexPoint Residential (NXRT) to $34 from $38 and keeps a Hold rating on the shares. The company continues to be the worst-performing apartment REIT in the firm’s coverage universe year-to-date, and Truist believes that NexPoint will not be able to grow earnings or cashflow this year or next, mostly because of expiring interest rate swaps paired with very high financial leverage relative to peers, the analyst tells investors in a research note.