NexPoint Real Estate Finance, Inc.
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Range $16 – $16
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About the company
NexPoint Real Estate Finance, Inc. (NREF) is a U. S.
- CEO
- James David Dondero
- IPO
- 2020
- Employees
- 1
- HQ
- Dallas, TX, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $325.32M
- P/E
- 4.82
- Fwd P/E
- 10.02
- PEG
- 0.43
- P/S
- 2.42
- P/B
- 0.86
- EV/EBITDA
- 29.37
- Div Yield
- 11.59%
- Gross Margin
- 86.36%
- Op Margin
- 112.91%
- Net Margin
- 75.05%
- ROE
- 18.36%
- ROIC
- 2.82%
Latest fiscal year · YoY change
- Revenue
- $126.13M+14.3%
- Gross Profit
- $112.10M+12.9%
- Op Income
- $163.63M
- Net Income
- $105.10M+260.0%
- EPS
- $4.28+319.6%
- OCF Growth
- -21.7%
- FCF Growth
- -21.7%
- 52W High
- $18.43
- 52W Low
- $12.36
- 50D MA
- $16.31
- 200D MA
- $14.88
- Beta
- 1.15
- RSI (14)
- 55
- Avg Volume
- 62.45K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
NexPoint Residential Trust/NREF reported lower net income year over year, but stronger distributable cash flow, steady dividend coverage, and a cleaner capital structure after refinancing its near-term debt.· August 6, 2026
- Net income was $0.29 per diluted share, down from $0.54 in Q2 2025, while earnings available for distribution rose to $0.46 from $0.43 and cash available for distribution rose to $0.58 from $0.46.
- The quarterly dividend remained $0.50 per share and was covered 1.16x by cash available for distribution; the board also declared another $0.50 dividend for Q3 2026.
- Book value per diluted share fell 1.9% quarter over quarter to $18.60, mainly due to a small unrealized loss on the stock warrant portfolio.
- The company closed a $375 million drawable term loan facility with Mizuho and used it to repay $180 million of senior unsecured notes at maturity, reducing near-term balance-sheet pressure.
- Management said the Q2 investment pipeline converted into more than $70 million of funded assets, with continued origination at double-digit coupons and a constructive view on residential and life science assets.
Second-quarter net income was $0.29 per diluted share versus $0.54 in Q2 2025. Earnings available for distribution was $0.46 per diluted share versus $0.43 in the prior-year quarter, and cash available for distribution was $0.58 versus $0.46. The regular dividend was $0.50 per share and was 1.16x covered by CAD. Book value per diluted share was $18.60, down 1.9% from Q1 2026. Guidance for Q3 2026 calls for earnings available for distribution of $0.43 per diluted share at the midpoint ($0.38 to $0.48 range) and cash available for distribution of $0.55 per diluted share at the midpoint ($0.50 to $0.60 range).
Matthew Ryan McGraner described the quarter as another period of “consistent solid execution” and said recurring earnings power is ticking up while the company remains at the top of its commercial mortgage REIT peer group on credit. He highlighted improving residential fundamentals, stronger life science leasing, and self-storage outperformance, framing the portfolio as positioned for a supply-driven recovery in residential and a widening tenant base in life science. His tone was confident and constructive, especially around the company’s ability to redeploy capital at attractive returns.
Paul Richards emphasized the quarter’s distribution metrics and balance-sheet actions. He noted net income of $0.29 per diluted share, EAD of $0.46, CAD of $0.58, and dividend coverage of 1.16x, and said the board kept the dividend at $0.50 per share for Q3. He also highlighted the $375 million Mizuho drawable term loan facility used to repay the $180 million 5.75% senior unsecured notes, with $362.2 million outstanding on the facility and a reduced net interest cost of SOFR plus 245 via the TRS, calling the structure one of the cleanest and most flexible in the sector.
Analysts focused on portfolio mix, dividend sustainability, and credit quality. On mix, management said it would like life science to be about one-third of assets in a normalized environment and residential to be around 50%, and expects some Alewife capital to come back for redeployment into residential. On the dividend, Paul Richards said the company is comfortable with CAD coverage and expects EAD and CAD to converge over time. On credit, management said multifamily and B-piece exposure have performed well, with no noted provisions or credit leaks, and life science is improving with tours up 30% or more sequentially and Q3 tracking ahead of Q2.
The positive case from the call is that distributable cash flow improved year over year, dividend coverage remained solid, and management says the quarter beat the guidance given in April. The company also cleaned up its capital structure with the Mizuho financing, while the residential, life science, and storage portfolios are all described as improving or outperforming.
The main risks are that net income declined materially year over year and book value fell 1.9% in the quarter. Management also pointed to lingering compression risk in 2021 and 2022 vintage loans, continued weakness in new lease trade-outs versus renewals in residential, and broader life science still being challenged outside of Alewife.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 90.9%
- Shares Outstanding
- 18.85M
- Float Shares
- 17.14M
of shares held by institutions
86 13F filers
Buy/sell ratio 1.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Nexpoint Asset Management, L.P. | 9.44M | 0 |
| Blackrock, Inc. | 624.27K | ▲ 30.27K |
| Vanguard Group Inc | 397.17K | ▼ 34.95K |
| Vanguard Capital Management LLC | 346.32K | ▲ 36.85K |
| Raymond James Financial Inc | 292.85K | ▼ 6.10K |
| Independent Financial Group, LLC | 281.01K | ▲ 4.41K |
| Morgan Stanley | 195.07K | ▲ 3.32K |
| Geode Capital Management, LLC | 182.68K | ▲ 3.43K |
| State Street Corp | 173.36K | ▼ 2.20K |
| O'Shaughnessy Asset Management, LLC | 155.33K | ▼ 387 |
| Copley Financial Group, Inc. | 110.59K | ▲ 80 |
| Ritholtz Wealth Management | 104.62K | ▼ 7.97K |
Held by 83 ETFs
Biggest fund positions in NREF by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Apr 3, 26 | Wood Catherine D. | other | 5,518 |
| Apr 2, 26 | Wood Catherine D. | other | 6,154 |
| Apr 3, 26 | Wood Catherine D. | other | 5,518 |
| Apr 3, 26 | Swain Carol | other | 5,518 |
| Apr 3, 26 | Swain Carol | sell | 2,759 |
| Apr 2, 26 | Swain Carol | other | 6,154 |
| Apr 3, 26 | Swain Carol | other | 5,518 |
| Apr 4, 26 | Sauter Dennis Charles Jr | other | 3,238 |
| Apr 4, 26 | Sauter Dennis Charles Jr | other | 1,229 |
| Apr 3, 26 | Sauter Dennis Charles Jr | other | 4,311 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our NREF coverage
Recent articles, reports, and earnings notes.
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Generate NREF report →NexPoint Real Estate Finance Q2 Earnings Call Highlights
marketbeat.com · Aug 8
NexPoint Real Estate Finance, Inc. (NREF) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 6
NexPoint (NREF) Tops Q2 Earnings and Revenue Estimates
zacks.com · Aug 6
NREF Announces Second Quarter 2026 Results, Provides Third Quarter 2026 Guidance
prnewswire.com · Aug 6
NexPoint Real Estate Finance, Inc. Announces Quarterly Dividend
prnewswire.com · Jul 28
NexPoint Real Estate Finance, Inc. Announces Second Quarter 2026 Earnings Conference Call
prnewswire.com · Jul 9
NexPoint Real Estate Finance, Inc. Announces Series A Preferred Stock Dividend
prnewswire.com · Jun 17
REITs Excel, Earnings Swell, Fed Rebels
seekingalpha.com · May 3
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