NexPoint Real Estate Finance, Inc. NREF
NexPoint Real Estate Finance, Inc. (NREF) is a U.S.-based real estate finance firm. Its core activities involve the origination, structuring, and investment in a diverse range of real estate-backed financial products. These encompass senior mortgage debt, mezzanine debt, preferred equity, preferred stock, and securitized multifamily commercial mortgage-backed securities. The company aims to qualify as a Real Estate Investment Trust (REIT) for U.S. federal income tax purposes. This status generally allows it to avoid federal corporate income taxes, provided it distributes at least 90% of its taxable earnings to its shareholders. Established in 2019, NREF is headquartered in Dallas, Texas.
Business overview written from the company's own Form 10-K (Item 1), filed 2026-03-31 — refreshed whenever it files a new one. The figures above are current; see its SEC filings. ✓ From the 10-K
Plain-English: the Snapshot is the quick read — what it pays you (yield, dividend), how its cash flow looks (FFO/AFFO, Price/OCF) and how much debt it carries. Switch to Expert in the header to hide these explanations.
Snapshot
Reported FFO / CAD / leverage are from the Q1 2026 earnings release (filed 2026-04-30) — 8-K, EX-99.1 ✓ Verified to filing.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
$10,000 invested
Illustrative income only, at today's price and latest declared dividend — it excludes price changes, dividend cuts and taxes. Not a forecast.
Model NREF yourself — any amount, shares, per-payment & a multi-year DRIP projection →
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $126.13M | $105.10M | $2.94M | $168.86M | $22.92M |
| 2024 | $110.32M | $29.19M | $5.61M | $90.39M | $29.28M |
| 2023 | $42.09M | $13.97M | $2.46M | $2.46M | $31.56M |
| 2022 | $40.38M | $6.75M | $2.90M | $57.35M | $65.80M |
| 2021 | $34.75M | $43.09M | $0.00 | $83.47M | $49.30M |
| 2020 | $19.49M | $12.85M | $0.00 | $0.00 | $32.90M |
Dividends
Recent regular dividends per share (special distributions excluded), oldest → newest.
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-06-15 | 2026-06-15 | 2026-06-30 | 2026-04-27 | $0.50 | Quarterly |
| 2026-03-13 | 2026-03-13 | 2026-03-31 | 2026-02-24 | $0.50 | Quarterly |
| 2025-12-15 | 2025-12-15 | 2025-12-31 | 2025-10-28 | $0.50 | Quarterly |
| 2025-09-15 | 2025-09-15 | 2025-09-30 | 2025-07-29 | $0.50 | Quarterly |
| 2025-06-13 | 2025-06-13 | 2025-06-30 | 2025-04-29 | $0.50 | Quarterly |
| 2025-03-14 | 2025-03-14 | 2025-03-31 | 2025-02-26 | $0.50 | Quarterly |
| 2024-12-13 | 2024-12-13 | 2024-12-31 | 2024-10-29 | $0.50 | Quarterly |
| 2024-09-13 | 2024-09-13 | 2024-09-30 | 2024-07-31 | $0.50 | Quarterly |
| 2024-06-14 | 2024-06-14 | 2024-06-28 | 2024-05-02 | $0.50 | Quarterly |
| 2024-03-14 | 2024-03-15 | 2024-03-28 | 2024-02-29 | $0.50 | Quarterly |
| 2023-12-14 | 2023-12-15 | 2023-12-29 | 2023-10-31 | $0.69 | Special |
| 2023-09-14 | 2023-09-15 | 2023-09-29 | 2023-07-25 | $0.69 | Special |
| 2023-06-14 | 2023-06-15 | 2023-06-30 | 2023-04-26 | $0.69 | Special |
| 2023-03-14 | 2023-03-15 | 2023-03-31 | 2023-02-23 | $0.69 | Special |
| 2022-12-14 | 2022-12-15 | 2022-12-30 | 2022-10-25 | $0.50 | Quarterly |
| 2022-09-14 | 2022-09-15 | 2022-09-30 | 2022-07-28 | $0.50 | Quarterly |
| 2022-06-14 | 2022-06-15 | 2022-06-30 | 2022-04-28 | $0.50 | Quarterly |
| 2022-03-14 | 2022-03-15 | 2022-03-31 | 2022-02-17 | $0.50 | Quarterly |
| 2021-12-14 | 2021-12-15 | 2021-12-30 | 2021-11-04 | $0.47 | Quarterly |
| 2021-09-14 | 2021-09-15 | 2021-09-30 | 2021-07-29 | $0.47 | Quarterly |
| 2021-06-14 | 2021-06-15 | 2021-06-30 | 2021-04-29 | $0.47 | Quarterly |
| 2021-03-12 | 2021-03-15 | 2021-03-31 | 2021-02-18 | $0.47 | Quarterly |
| 2020-12-14 | 2020-12-15 | 2020-12-31 | 2020-10-29 | $0.40 | Quarterly |
| 2020-09-14 | 2020-09-15 | 2020-09-30 | 2020-08-06 | $0.40 | Quarterly |
Coverage (payout of operating cash flow): 437.36%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Recent news — NREF
NexPoint Real Estate Finance, Inc. Announces Second Quarter 2026 Earnings Conference Call
NexPoint Real Estate Finance, Inc. Announces Series A Preferred Stock Dividend
REITs Excel, Earnings Swell, Fed Rebels
NexPoint Real Estate Finance, Inc. (NREF) Q1 2026 Earnings Call Transcript
NexPoint (NREF) Q1 Earnings and Revenues Surpass Estimates
NREF Announces First Quarter 2026 Results, Provides Second Quarter 2026 Guidance
NexPoint Real Estate Finance, Inc. Announces Quarterly Dividend
NexPoint Real Estate Finance, Inc. Announces First Quarter 2026 Earnings Conference Call
Headlines via Financial Modeling Prep; links open the original publisher in a new tab. Not an endorsement or investment advice.
Other Mortgage REITs
Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.