NexPoint Real Estate Finance (NREF) Company Report

NexPoint Real Estate Finance reported Q4 2025 net income of $0.52 per diluted share and full-year 2025 net income of $2.09 per diluted share, which more than doubled the prior year's figure.
The company declared a Q1 2026 dividend of $0.50 per share and provided Q1 2026 guidance with a midpoint of $0.40 per diluted share for Earnings Available for Distribution (EAD) and $0.50 per diluted share for Cash Available for Distribution (CAD).
NREF raised $60.5 million in gross proceeds from its Series B preferred stock offering and launched a Series C 8% preferred stock, which has raised $14.1 million to date.
A re-REMIC transaction reduced mark-to-market repo financing by $75.2 million, decreasing the debt-to-equity ratio to 0.83x, and is expected to be $0.30-$0.34 per share accretive to annual CAD.
The company recorded a $12 million provision for credit loss in Q4 2025, primarily due to a general reserve update and existing preferred deals, with expectations for it to level off in 2026.

2 days ago

Transcript

NexPoint Real Estate Finance Announces Q4 2025 Results

NREF

Earnings

Dividends

Guidance Update

NexPoint Real Estate Finance reported net income attributable to common stockholders of $13.6 million, or $0.52 per diluted common share, for Q4 2025.
For Q4 2025, Cash Available for Distribution (CAD) was $0.53 per diluted common share, which remained consistent compared to Q3 2025, while Earnings Available for Distribution (EAD) was $0.48 per diluted common share, a 6.1% decrease from Q3 2025.
The company paid a Q4 2025 dividend of $0.50 per common share and declared a Q1 2026 dividend of $0.50 per common share.
As of December 31, 2025, the book value per diluted common share, including redeemable non-controlling interests, increased 1.4% to $19.10 per share compared to the end of Q3 2025.
For Q1 2026, NexPoint Real Estate Finance provided guidance of $0.40 per diluted common share for EAD and $0.50 per diluted common share for CAD at the mid-point.

2 days ago

Presentation

NexPoint Real Estate Finance Reports Q4 2025 Results and Q1 2026 Guidance

NREF

Earnings

Dividends

Guidance Update

NexPoint Real Estate Finance reported net income of $0.52 per diluted share for Q4 2025 and $2.09 per diluted share for the full year 2025, which more than doubled the $1.02 reported in 2024.
The company declared a Q1 2026 dividend of $0.50 per share, which was 1.06 times covered by cash available for distribution (CAD) in Q4 2025. For Q1 2026, NREF provided guidance of $0.40 per diluted share for Earnings Available for Distribution (EAD) and $0.50 per diluted share for CAD.
Book value per diluted share increased 1.4% from Q3 to $19.10 in Q4 2025. A $12 million provision for credit loss was recorded in Q4 2025, with management expecting it to level off in 2026.
NREF completed a re-REMIC transaction that reduces mark-to-market repo financing by $75.2 million, is expected to decrease the debt-to-equity ratio to 0.83 times, and is projected to be $0.30-$0.34 per share accretive to annual CAD.
During Q4 2025, NREF funded new loans totaling $45.6 million, including $5.7 million at SOFR plus 900 basis points (with a 14% floor), $22.5 million at an 11% monthly coupon, and $17.4 million across two marina loans at a 13% monthly coupon.

2 days ago

Transcript

NexPoint Real Estate Finance Announces Q4 and Full Year 2025 Results and Q1 2026 Guidance

NREF

Earnings

Dividends

Guidance Update

NexPoint Real Estate Finance reported Q4 2025 net income of $0.52 per diluted share and Cash Available for Distribution (CAD) of $0.53 per diluted share, with full-year 2025 net income more than doubling to $2.09 per diluted share.
The company declared a Q1 2026 dividend of $0.50 per share and provided Q1 2026 guidance of $0.40 per diluted share for Earnings Available for Distribution (EAD) and $0.50 per diluted share for CAD at the midpoint.
NREF completed a re-REMIC transaction reducing mark-to-market repo financing by $75.2 million, which is expected to be $0.30-$0.34 per share accretive to annual CAD, and also raised $60.5 million from a Series B preferred stock offering.
The portfolio consists of 92 investments with a total outstanding balance of $1.2 billion, with 82.5% stabilized and a 63.6 loan-to-value ratio.

2 days ago

Transcript

NexPoint Real Estate Finance Announces Fourth Quarter 2025 Results and First Quarter 2026 Guidance

NREF

Earnings

Guidance Update

Dividends

NexPoint Real Estate Finance (NREF) reported net income attributable to common stockholders of $13.6 million, or $0.52 per diluted share, for the quarter ended December 31, 2025.
For the same period, Cash Available for Distribution (CAD) was $12.2 million, translating to $0.53 per diluted common share.
The company provided First Quarter 2026 guidance, projecting Earnings Available for Distribution (EAD) per diluted common share at $0.405 and CAD per diluted common share at $0.505 at the midpoint.
NREF also announced a first quarter dividend of $0.50 per common share on February 24, 2026.

2 days ago

Press Release

NexPoint Real Estate Finance, Inc. Announces Fourth Quarter 2025 Results and Provides First Quarter 2026 Guidance

NREF

Earnings

Guidance Update

Dividends

NexPoint Real Estate Finance, Inc. reported net income attributable to common stockholders of $13.6 million, or $0.52 per diluted share, and cash available for distribution of $0.53 per diluted common share for the fourth quarter of 2025.
The company provided first quarter 2026 guidance, estimating Earnings Available for Distribution (EAD) per diluted common share of $0.40 at the midpoint and Cash Available for Distribution (CAD) per diluted common share of $0.50 at the midpoint.
NREF declared a first quarter 2026 dividend of $0.50 per common share, to be paid on March 31, 2026, consistent with the $0.50 per common share dividend paid for Q4 2025.
As of December 31, 2025, the total portfolio was $1.2 billion across 92 investments, with a weighted-average loan to value (LTV) of 63.6% and a debt service coverage ratio (DSCR) of 1.24x.
During the fourth quarter of 2025, the company raised $60.5 million in gross proceeds from the Series B preferred stock offering.

2 days ago

8-K

NexPoint Real Estate Finance Operating Partnership Loans $16.7 Million to Affiliate

NREF

New Projects/Investments

Debt Issuance

NexPoint Real Estate Finance Operating Partnership, L.P. (the OP) loaned $16.7 million to NexPoint Storage Partners Operating Company, LLC (NSP OC) on January 16, 2026, as part of a promissory note allowing up to $40 million in total borrowings.
The NSP Note bears interest at 14% per annum, payable in kind, is interest-only, and matures on January 16, 2031.
The loan is secured by a first priority lien on certain income streams and related deposit accounts of NSP OC and its subsidiaries, but is subordinated to NSP's Series D Preferred Stock.
The Ohio State Life Insurance Company (OSL) has agreed to purchase $5 million in principal amount of the NSP Note prior to the end of the second quarter of 2026.
As of January 16, 2026, NexPoint Real Estate Finance, Inc. (NREF) owned approximately 25.4% of NSP's common stock and guaranteed certain NSP obligations capped at $97.6 million.

Jan 23, 2026, 9:16 PM

8-K

NexPoint Real Estate Finance Announces Series B Preferred Stock Offering Closure and Series C Launch

NREF

New Projects/Investments

NexPoint Real Estate Finance (NREF) successfully closed its 9.00% Series B Cumulative Redeemable Preferred Stock offering, raising approximately $404.5 million in gross proceeds, which fully subscribed its initial $400 million amount.
Following this, NREF launched a new $200 million 8.00% Series C Cumulative Redeemable Preferred Stock offering, with the first scheduled close on December 19, 2025.
The Series C Preferred Stock is offered at $25.00 per share and is designed to offer investors stable income while supporting NREF's mission to finance high-quality real estate assets.

Dec 10, 2025, 10:00 PM

Press Release

NexPoint Real Estate Finance Announces Closing of Series B Preferred Stock Offering and Launch of Series C

NREF

Debt Issuance

New Projects/Investments

NexPoint Real Estate Finance (NREF) announced the successful closing of its 9.00% Series B Cumulative Redeemable Preferred Stock offering, which raised approximately $404.5 million in gross proceeds.
The Series B offering fully subscribed its initial $400 million target amount.
Building on this success, NREF has launched a new $200 million 8.00% Series C Cumulative Redeemable Preferred Stock offering at a price of $25.00 per share, with the first scheduled close on December 19, 2025.

Dec 10, 2025, 9:34 PM

8-K

NexPoint Real Estate Finance, Inc. Launches $200 Million Series C Preferred Stock Offering

NREF

Dividends

New Projects/Investments

NexPoint Real Estate Finance, Inc. (NREF) has launched a continuous public offering of up to 8,000,000 shares of its newly designated 8.00% Series C Cumulative Redeemable Preferred Stock at $25.00 per share, aiming for $200 million in gross proceeds.
The Series C Preferred Stock will pay cumulative cash dividends at an 8.00% per annum rate, payable monthly in arrears, and ranks on parity with existing Series A and Series B Preferred Stock.
NREF intends to use the net proceeds for general corporate purposes, which may include funding investments and repaying debt obligations.
There will be no public market for the Series C Preferred Stock, as the company does not intend to apply for listing on any national securities exchange.