Piper Sandler initiates coverage for NexPoint with neutral rating

NexPoint Real Estate Finance

24/10/2022 15:46

** Piper Sandler initiates coverage on real estate
investment co NexPoint Real Estate Finance Inc  NREF.N  with
'neutral' rating; sets PT at $17.50 
    ** PT implies an upside of ~14% on previous close   
    ** Co's multi-family and single family focused rental assets
and double-digit dividend yields are "attractive" but brokerage
is cautious of near-term credit mix because of its exposure to
riskier loans   
    ** Yields on co's portfolio expected to see a tailwind as
the Federal Reserve continues to pump up interest rates
    ** Adds insider buying by NREF executives has risen in the
last few weeks, often a clear way for employees to show if a
stock is undervalued
    ** Including session's move, stock is down nearly 20% YTD
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))