NexPoint Residential said its profits were lower than expected last quarter, leading to a cut in its yearly forecast.

NXRT · NexPoint Residential

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Higher Nashville property taxes, resident services, other running costs, and interest expense are squeezing property income. Occupancy and renewals improved, and fewer new apartments are being built. But NXRT still relied on discounts, and those gains do not outweigh its weaker results and lower full-year forecasts.