NexPoint Real Estate Finance, Inc.

NYSE:NREF Stock Report

Market Cap: US$357.5m

NexPoint Real Estate Finance Past Earnings Performance

Past criteria checks 5/6

NexPoint Real Estate Finance has been growing earnings at an average annual rate of 19.6%, while the Mortgage REITs industry saw earnings declining at 1.7% annually. Revenues have been growing at an average rate of 11.9% per year. NexPoint Real Estate Finance's return on equity is 14.1%, and it has net margins of 44.5%.

Key information

19.64%

Earnings growth rate

-17.29%

EPS growth rate

Mortgage REITs Industry Growth4.45%
Revenue growth rate11.92%
Return on equity14.11%
Net Margin44.46%
Last Earnings Update31 Mar 2026

Recent past performance updates

Recent updates

Seeking Alpha • Sep 24

NexPoint Real Estate Finance: Pullback In Common Shares Presents A Buying Opportunity

Summary NexPoint Real Estate Finance is an mREIT with modest leverage, with investments focused on mortgage-backed securities, mezzanine financing, and preferred equity. Despite sound financial results in H1 2025, the common shares have lagged mREIT peers this year, increasing the book value discount to 18%. Absent sizable other income gains, the P/E multiple stands at 8.5x—attractive in light of the 1.14x debt-to-equity ratio. More risk-averse investors may find appeal in the Series A preferreds, which offer an attractive current yield and some capital gain potential. A prolonged downturn in the U.S. economy is a key risk in the investment case. Read the full article on Seeking Alpha
Seeking Alpha • Mar 21

NexPoint Real Estate Finance: Making Hay While The Sun Shines

Summary NexPoint Real Estate Finance is a mREIT focused on financing multifamily and life sciences properties, primarily through CMBS and mezzanine loans. Over the past year, the common dividend is covered by cash flows, a trend I expect to continue in 2025. The current interest rate environment remains favorable for mREITs, with both short and long-term interest rates likely to decline in 2025-2027. Key risks to consider include a potential U.S. recession or persistent inflation, forcing the Fed to delay rate cuts. The REIT's preferred shares offer a marginally lower yield but come with higher protection against downside risks. Read the full article on Seeking Alpha
Seeking Alpha • Oct 28

NexPoint Real Estate Finance: Preferred Shares Offer Nice Income Play

Summary NexPoint Real Estate Finance's preferred shares offer a 9.28% yield and are a better short-term income play than common shares due to dividend stability. NREF dividend is likely to be cut as earnings barely cover it, making the NREF.PR.A more attractive for income investors. The company's portfolio is strong, focusing on multifamily and single-family rentals with high current yields and short maturities, avoiding office sector risks. Despite potential risks like interest rate changes and economic pressures, the preferred shares provide a safer income investment with cumulative redeemable features. Read the full article on Seeking Alpha
Seeking Alpha • Dec 26

NexPoint Real Estate Finance: Why I Didn't Buy The Tempting 13% Dividend Yield

Summary NexPoint Real Estate Finance is paying out a base and special dividend that is not being covered by its third-quarter cash available for distribution. The mortgage REIT has a defensive focus on residential properties with these forming 93.9% of outstanding principal. NREF has experienced a sustained decline in book value per share and is currently trading at a 13.4% discount to its third-quarter book value. Read the full article on Seeking Alpha

Revenue & Expenses Breakdown

How NexPoint Real Estate Finance makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NYSE:NREF Revenue, expenses and earnings (USD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
31 Mar 2615669210
31 Dec 2515776190
30 Sep 2515272190
30 Jun 2512253170
31 Mar 2511148160
31 Dec 247318170
30 Sep 247323150
30 Jun 2430-9150
31 Mar 2424-10150
31 Dec 234210120
30 Sep 2323-7120
30 Jun 2331-1110
31 Mar 2331-3110
31 Dec 22403100
30 Sep 226019100
30 Jun 22924290
31 Mar 22934490
31 Dec 21974090
30 Sep 211023680
30 Jun 21882680
31 Mar 21942660
31 Dec 20431150
30 Sep 2022230
30 Jun 2016-100
31 Mar 203-600
31 Dec 1934000
31 Dec 18341940

Quality Earnings: NREF has high quality earnings.

Growing Profit Margin: NREF's current net profit margins (44.5%) are higher than last year (43.7%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: NREF's earnings have grown by 19.6% per year over the past 5 years.

Accelerating Growth: NREF's earnings growth over the past year (42.7%) exceeds its 5-year average (19.6% per year).

Earnings vs Industry: NREF earnings growth over the past year (42.7%) exceeded the Mortgage REITs industry 4.1%.

Return on Equity

High ROE: NREF's Return on Equity (14.1%) is considered low.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/02 13:33
End of Day Share Price 2026/06/02 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

NexPoint Real Estate Finance, Inc. is covered by 5 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Amanda SweitzerBaird
Steven DelaneyCitizens JMP Securities, LLC
Jade RahmaniKeefe, Bruyette, & Woods