NexPoint Real Estate Finance (NREF) Company Report

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.

11 minutes ago

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.

37 minutes ago

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.

Nov 4, 2025, 10:23 PM

8-K

NexPoint Real Estate Finance Launches Continuous Offering of Series C Preferred Stock

NREF

Convertible Preferred Issuance

Debt Issuance

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 a price of $25.00 per share, aiming for $200 million in gross proceeds.
The company intends to use the net proceeds from this offering for general corporate purposes, which may include funding investments and repaying existing debt obligations.
The offering is expected to terminate on the earlier of selling all shares or December 29, 2026, and there will be no public market for the Series C Preferred Stock as NREF does not intend to list it on any national securities exchange.

Nov 4, 2025, 10:15 PM

Press Release

NexPoint Real Estate Finance Reports Strong Q3 2025 Earnings and Book Value Growth

NREF

Earnings

Dividends

Guidance Update

Net income attributable to common stockholders for Q3 2025 was $35.0 million, or $1.14 per diluted common share, a substantial increase from $12.3 million, or $0.54 per diluted common share, in Q2 2025.
Earnings Available for Distribution (EAD) per diluted common share rose 17.4% to $0.51 in Q3 2025, and Cash Available for Distribution (CAD) per diluted common share increased 15.2% to $0.53 compared to Q2 2025. The company paid a $0.50 per common share dividend on September 30, 2025.
Book value per diluted common share grew 8.2% to $18.83 at the end of Q3 2025, up from $17.40 at the end of Q2 2025.
The company's total outstanding portfolio stands at $1.1 billion across 88 investments, with a Debt to Equity ratio of 0.93X as of September 30, 2025. For Q4 2025, guidance for EAD per diluted common share is $0.48 and CAD per diluted common share is $0.50 at the mid-point.

Oct 30, 2025, 3:00 PM

Presentation

NexPoint Real Estate Finance Reports Q3 2025 Results and Q4 Guidance

NREF

Earnings

Guidance Update

Dividends

NexPoint Real Estate Finance (NREF) reported Q3 2025 net income of $1.12 per diluted share, an increase from $0.74 in Q3 2024, primarily due to unrealized gains on preferred stock and stock warrant investments. Earnings Available for Distribution (EAD) was $0.51 per diluted share and Cash Available for Distribution (CAD) was $0.53 per diluted share.
The company's $0.50 per share regular dividend was covered 1.06 times by CAD in Q3 2025. NREF declared a $0.50 per share dividend for Q4 2025 and provided Q4 2025 guidance of $0.48 EAD (midpoint) and $0.50 CAD (midpoint) per diluted share.
Book value per diluted share increased 8% from Q2 2025 to $18.79. NREF funded $42.5 million in a life sciences preferred investment and $6.5 million on a loan, while selling a multifamily property for $60 million.
NREF is launching a Series C Preferred offering of $200 million at an 8% coupon, following significant demand for its Series B Preferred raise. The company has an investment pipeline exceeding $350 million and may opportunistically buy back stock.

Oct 30, 2025, 3:00 PM

Transcript

NREF Announces Q3 2025 Results and Q4 2025 Guidance

NREF

Earnings

Guidance Update

Dividends

NexPoint Real Estate Finance (NREF) reported net income attributable to common stockholders of $35.0 million ($1.14 per diluted share) and cash available for distribution (CAD) of $12.1 million ($0.53 per diluted common share) for the three months ended September 30, 2025.
As of September 30, 2025, NREF's total portfolio was $1.1 billion, comprising 88 investments, with multifamily, life sciences, and single-family rental representing 47.3%, 33.9%, and 15.9% of the portfolio, respectively.
During Q3 2025, the company purchased $42.5 million of preferred stock and raised $65.7 million in gross proceeds from a Series B preferred stock offering.
NREF announced a fourth quarter dividend of $0.50 per common share on October 28, 2025.
For the fourth quarter of 2025, NREF provided guidance, with Earnings Available for Distribution (EAD) per diluted common share at $0.485 (midpoint) and Cash Available for Distribution (CAD) per diluted common share at $0.505 (midpoint).

Oct 30, 2025, 12:15 PM

Press Release

NREF Announces Q3 2025 Results and Q4 2025 Guidance

NREF

Earnings

Guidance Update

Dividends

NexPoint Real Estate Finance, Inc. (NREF) reported net income attributable to common stockholders of $35.0 million, or $1.14 per diluted share, and Cash Available for Distribution (CAD) of $12.1 million, or $0.53 per diluted common share, for the third quarter ended September 30, 2025.
For the fourth quarter 2025, NREF provided guidance of $0.48 per diluted common share for Earnings Available for Distribution (EAD) and $0.50 per diluted common share for CAD, both at the midpoint.
During Q3 2025, NREF sold a multifamily property for $60.0 million, resulting in a $3.7 million gain, and raised $65.7 million in gross proceeds from a Series B preferred stock offering.
The company announced a fourth quarter dividend of $0.50 per common share on October 28, 2025.

Oct 30, 2025, 12:00 PM

8-K

NexPoint Real Estate Finance Operating Partnership Issues New Senior Unsecured Notes and Makes Investment

NREF

Debt Issuance

New Projects/Investments

On October 10, 2025, NexPoint Real Estate Finance Operating Partnership, L.P. (the OP) issued and sold an aggregate principal amount of $45.0 million of 7.875% Senior Unsecured Notes due 2026 to Bluerock Total Income+ Real Estate Fund and The Ohio State Life Insurance Company.
The OP intends to use the net proceeds from the Notes to fully repay approximately $36.5 million aggregate principal amount of its 7.50% Senior Unsecured Notes due 2025 and for general corporate purposes.
The Notes mature on October 10, 2026, with two six-month extension options, and the interest rate will increase by 3.0% if the second extension option is exercised.
On October 8, 2025, the OP purchased approximately 3,178 shares of NexPoint Storage Partners, Inc. (NSP) 15.0% Cumulative Series G Preferred Stock for a purchase price of $3.2 million.

Oct 10, 2025, 8:15 PM

8-K

NexPoint Real Estate Finance Increases Authorized Series B Preferred Stock Offering

NREF

Convertible Preferred Issuance

NexPoint Real Estate Finance, Inc. (NREF) has increased the total authorized offering amount of its 9.00% Series B Cumulative Redeemable Preferred Stock to 17,200,000 shares as of October 1, 2025.
This increase includes an additional 1,200,000 shares of Series B Preferred Stock and Series B Preferred Units.
As of October 1, 2025, NREF has sold 13,717,142 shares of Series B Preferred Stock, with 3,482,858 shares remaining available for offer and sale.
Each share of Series B Preferred Stock is offered at a public offering price of $25.00 per share.