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NexPoint Real Estate Finance (NREF) investor relations material
NexPoint Real Estate Finance Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net income attributable to common stockholders rose to $35.0 million, or $1.14 per diluted share, for Q3 2025, up 117.4% year-over-year, driven by unrealized gains on preferred stock, warrant investments, and real estate sales.
Book value per share increased 8% sequentially to $18.87 at September 30, 2025.
Regular dividend of $0.50 per share was paid for Q3 2025 and declared for Q4 2025.
Portfolio totaled $1.1 billion across 88 investments, diversified across multifamily, SFR, life sciences, self-storage, and marinas.
Financial highlights
Net interest income for Q3 2025 was $12.5 million; EAD was $0.51 per diluted share and CAD was $0.53 per share.
Sold a multifamily property for $60 million, realizing a $3.7 million gain.
Raised $65.7 million in gross proceeds from Series B Preferred stock and purchased $42.5 million of preferred stock.
Portfolio collateral: 87.4% stabilized, 54.9% loan-to-value, weighted average DSCR of 1.41x.
Debt outstanding: $728.9 million at a 5.3% weighted average cost; debt-to-equity ratio of 0.93x.
Outlook and guidance
Q4 2025 guidance: net income attributable to common stockholders estimated between $8.3 million and $10.6 million; EAD per diluted share guidance is $0.48 at midpoint (range $0.43–$0.53); CAD per share guidance is $0.50 at midpoint (range $0.45–$0.55).
Dividend coverage ratios for Q4 2025 expected at 0.96x (EAD) and 1.00x (CAD).
Management expects sufficient liquidity for operations, debt service, and dividends over the next twelve months.
Cautious optimism for rental and storage markets, with positive revenue growth expected in 2026.
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