NREF
NexPoint Real Estate Finance, Inc.14.31
-0.22-1.51%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Affirms dividend; provisions trough; BTR upside
Q&A reaffirmed dividend sustainability, with Paul emphasizing CAD over EAD as the key metric—covered 1.06x last quarter—and citing re-REMIC accretion plus Series C proceeds. Provisions peaked at a conservative $12 million trough after incorporating a severe downside scenario; expect leveling in 2026. Matthew doubled down on BTR amid potential regs curbing scattered-site SFR, with $550 million under contract and $200 million monthly reviews. Alewife leasing benefits from prime location and AI-driven cluster effects. Provisions hit trough. Management sounded bullish on deployment, but investors will watch regulatory fallout.
Key Stats
Market Cap
325.70MP/E (TTM)
4.92Basic EPS (TTM)
2.91Dividend Yield
0.14%Recent Filings
10-K
8-K
NREF Q4 earnings, Q1 guidance
NexPoint Real Estate Finance reported Q4 2025 net income of $13.6 million ($0.52 per diluted share) and CAD of $12.2 million ($0.53 per share), with a $1.2 billion portfolio at 63.6% LTV and 1.24x DSCR. Funded $45.6MM in high-coupon loans (SOFR+900bps to 13%) while raising $60.5MM Series B preferred. Q1 2026 CAD guides $0.50 midpoint. Preferred redemptions cap quarterly at 5%.
8-K
NREF OP loans $16.7M to NSP
NexPoint Real Estate Finance's OP loaned $16.7 million to NSP OC on January 16, 2026, via a promissory note allowing up to $40 million at 14% PIK interest, maturing 2031, secured by NSP OC's income streams. The note subordinates to NSP's Series D Preferred Stock, redeemable by December 2028. OSL will buy $5 million by Q2 2026 end. Related-party ties run deep.
8-K
Closes Series B, launches Series C
NexPoint Real Estate Finance closed its 9.00% Series B Preferred Stock offering on December 10, 2025, raising $404.5 million gross proceeds to strengthen its balance sheet and expand real estate lending. It launched a $200 million 8.00% Series C offering at $25.00 per share, targeting first close December 19. Momentum builds. Forward-looking statements note market risks.
10-Q
Q3 FY2025 results
NexPoint Real Estate Finance held net interest income steady at $12.5M for Q3 ended September 30, 2025, flat y/y, while other income jumped to $46.7M from $18.7M on $50.4M unrealized gains in preferred stock/warrants and $3.7M gain on real estate sale, yet took a $15.7M credit provision. Net income hit $50.9M, with diluted EPS $1.14 (vs $0.74 y/y) on 43.9M shares reflecting Series B preferred dilution. Cash swelled to $17.9M; debt fell to $720M from $799M, bolstered by $156M Series B proceeds. Sold Hudson Montford multifamily for $60M in July. Loans mostly '3' risk-rated; credit reserves climbed to $26.0M. Litigation clouds linger over sponsor.
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