NXDT
NexPoint Diversified Real Estate Trust3.9700
+0.3300+9.07%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
194.61MP/E (TTM)
-Basic EPS (TTM)
-2.27Dividend Yield
0.17%Recent Filings
10-Q
Q2 FY2025 results
NexPoint Diversified Real Estate Trust posted Q2 revenue of $21.0M, down 5.6% y/y but up 2.1% q/q (derived), as hospitality rooms dipped 23.4% y/y from dispositions while dividend income climbed 6.8% y/y on equity holdings. Operating loss narrowed to $0.1M from $0.6M income y/y, with gross margins holding steady amid advisory fees jumping 103.8% y/y to $7.0M from a one-time NHT termination. Net loss widened to $44.1M from $10.5M y/y, driven by $41.6M unrealized losses on fair-value investments exceeding operating loss by over 20% due to mark-to-market hits on NSP and NREF equity. Liquidity strengthened with $4.7M cash and $44.1M restricted cash, total debt at $323.9M (down 10.6% y/y), including $228.2M mortgages at 7.55% average rate; free cash flow not disclosed in the 10-Q. The NHT merger closed April 17, 2025, issuing 1.1M common shares and $0.8M promissory notes to affiliates, fully consolidating hospitality assets with no new goodwill recognized. Yet debt covenants loom large in hospitality.
8-K
Conversion deferred by board
NexPoint Diversified Real Estate Trust shareholders approved converting from a Delaware statutory trust to a Maryland corporation on June 10, 2025, including new articles of incorporation and bylaws. Yet the board deferred implementation on July 28, 2025, deeming it no longer advisable for shareholders' best interests. This pause highlights shifting priorities in the REIT's structure.
8-K
NXDT approves conversion, LTIP
NexPoint Diversified Real Estate Trust shareholders approved the company's conversion from a Delaware statutory trust to a Maryland corporation on June 10, 2025, alongside electing six trustees and ratifying KPMG as auditors. They also greenlit the Amended and Restated 2023 Long Term Incentive Plan, boosting available shares to 3,488,000 for attracting talent. Shareholders okayed issuing common shares to the adviser for fees exceeding 5% of equity. This shift sharpens governance while aligning incentives.
10-Q
Q1 FY2025 results
NexPoint Diversified Real Estate Trust posted Q1 revenue of $29.1M, up 127% y/y from $12.8M, fueled by the NHT consolidation adding $11.5M in rooms and F&B income while rental income dipped 10% y/y to $3.6M on softer Cityplace occupancy. Operating income swung to $5.5M from $0.3M y/y, yet net loss widened to $35.1M from $21.5M, driven by $33.3M unrealized losses on fair-value investments—net loss outpaced operating loss by over 20% due to these mark-to-market hits and $7.3M interest expense. Cash climbed to $9.5M with $7.1M operating inflow (derived), but $350M debt looms with $104M due in 2025 at 7.5% weighted average rate; the NexBank revolver extended to November 2025. NHT merger closed April 17 for $5.7M mostly in stock, folding in $96.8M goodwill. Covenant breaches on a $38M NHT loan persist, risking acceleration. Volatility in fair-value holdings remains a key watch.
8-K
Proxy correction filed
NexPoint Diversified Real Estate Trust filed this 8-K on May 9, 2025, to correct typographical errors in its April 25 definitive proxy statement for the June 10 annual meeting. The fixes clarify overhang rates under the proposed Amended and Restated 2023 Long Term Incentive Plan, showing 4.2% fully diluted without the 943,000 new share request and 6.1% including it—levels the company deems reasonable for aligning executive incentives with shareholders. Previously voted shareholders need not act unless changing votes. This ensures accurate information ahead of votes on converting to a Maryland corporation.
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