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NREFNexPoint Real Estate Finance, Inc.
$15.81$843M
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
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NREF logo

NexPoint Real Estate Finance, Inc.

NREF
NYSE · Mortgage REITs
$15.81
At close - Oct 22, 4:00 PM EDT - USD
Market Cap$853M
P/E5.5x
52W High$18.43
Volume50.88K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Eroding Equity Base Masks Hidden Securitization Leverage

NexPoint Real Estate Finance's fundamentals are under pressure, with revenue contracting for three consecutive quarters (2026Q2 down 27.9% YoY) and NOI margins normalizing from unsustainable highs. The dividend payout appears unsustainable at 112% of FFO in Q2...

GrowthDecelerating
ProfitabilityStrained
ValuationReview
TechnicalsMixed
Explore valuation models
MARKET ACTION

NREF price & volume

Price trend, volume and key moving averages

Launch Terminal
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Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

6/12 Beats

EPS beat 6 of last 12 quarters

02

Valuation risk

-43% Peers

P/E is 43% below peer median

03

Market leadership

RS 62 · Avg

Average momentum (RS Rating: 62)

04

Mixed Trend

Mixed

Price < 50DMA but > 200DMA

Next CatalystConfirmed earnings · Nov 5

Market performance

Price History →

Trailing total returns as of 10/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
NREF+22.85%
S&P 500 (^GSPC)+11.83%
1-Year Return
NREF+30.09%
S&P 500 (^GSPC)+14.40%
3-Year Return
NREF+50.44%
S&P 500 (^GSPC)+86.27%
5-Year Return
NREF+26.49%
S&P 500 (^GSPC)+71.99%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/EMedian
5.5x
Forward P/E
9.1x
EV/EBITDA20th %ile
31.7x
FCF YieldCash Flow
2.7%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
5.5x
15.4x
40th· Fair
EV/EBITDA
31.7x
100.2x
20th· Low
Price/FCF
36.8x
8.6x
100th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
No DCF Model AvailableIntrinsic value modeling is not supported for this equity.

Growth & profitability

Annual revenue & EPS trend
Revenue
$126M+14.3% YoY
Net income
$105M+260.0% YoY
Free cash flow
$23M-21.7% YoY
Operating margin
129.7%+52.9 pts YoY
ROIC (TTM)2.3%
Avg ROIC 5Y-
ROE (TTM)15%
Piotroski Score5 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate6/12 (50%)
Revenue Beat Rate10/12 (83%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 6, 2026
$0.46+16.0%
vs $0.40
$34M+135.5%
vs $15M
Q2 2026
Apr 30, 2026
$0.43+4.9%
vs $0.41
$34M+202.1%
vs $11M
Q1 2026
Feb 26, 2026
$0.48+0.0%
vs $0.48
$34M+79.2%
vs $19M
Q4 2025
Oct 30, 2025
$0.51+21.4%
vs $0.42
$70M+497.7%
vs $12M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
PRNewsWire·Oct 6, 2026
NexPoint Real Estate Finance, Inc. Announces Third Quarter 2026 Earnings Conference Call

DALLAS, Oct. 6, 2026 /PRNewswire/ -- NexPoint Real Estate Finance, Inc. (NYSE: NREF) (the "Company") announced today that the Company is scheduled to host a conference call on Thursday, November 5, 2026, at 11:00 a.m. ET (10:00 a.m.

Defense World·Oct 4, 2026
NexPoint Real Estate Finance (NYSE:NREF) and Sunrise Realty Trust (NASDAQ:SUNS) Head to Head Review

Sunrise Realty Trust (NASDAQ: SUNS - Get Free Report) and NexPoint Real Estate Finance (NYSE: NREF - Get Free Report) are both small-cap finance companies, but which is the better investment? We will compare the two companies based on the strength of their institutional ownership, valuation, risk, analyst recommendations, earnings, dividends and profitability. Valuation and Earnings This

PRNewsWire·Sep 16, 2026
NexPoint Real Estate Finance, Inc. Announces Series A Preferred Stock Dividend

DALLAS, Sept. 16, 2026 /PRNewswire/ -- NexPoint Real Estate Finance, Inc. (NYSE: NREF) (the "Company") today announced a dividend for its 8.50% Series A Cumulative Redeemable Preferred Stock (NYSE: NREF PRA) of $0.53125 per share.

MarketBeat·Aug 8, 2026
NexPoint Real Estate Finance Q2 Earnings Call Highlights

NexPoint Real Estate Finance NYSE: NREF reported second-quarter earnings available for distribution of $0.46 per diluted share and cash available for distribution of $0.58 per diluted share, as the commercial mortgage REIT expanded its investment portfolio and refinanced a maturing unsecured debt obligation.

Filtered for NexPoint Real Estate Finance, Inc.More Headlines
04

Compare before deciding

Benchmark NREF against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for NexPoint Real Estate Finance, Inc. (NREF)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
NREF logoNREFNexPoint Real Estate Finance, Inc.Current
$15.81$853.39M5.5514.33%83.33%14.98%7.79%
KREF logoKREFKKR Real Estate Finance Trust Inc.
$5.72$367.8M-5.45-22.72%-44.66%-15.91%—
BXMT logoBXMTBlackstone Mortgage Trust, Inc.
$10.58$1.78B16.53-13.96%1.19%0.45%—
GPMT logoGPMTGranite Point Mortgage Trust Inc.
$4.82$23.23M-0.42-25.45%-65.89%-15.12%—
TRTX logoTRTXTPG RE Finance Trust, Inc.
$6.22$477.5M10.91-5.23%21.75%5.45%—
ACRE logoACREAres Commercial Real Estate Corporation
$3.26$180.87M-198.7822.54%-4.51%-0.88%—

Compare NREF vs Peers

NexPoint Real Estate Finance, Inc. (NREF) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs KREF

Most directly comparable listed peer for NREF.

Scale Benchmark

vs NLY

Larger-name benchmark to compare NREF against a more recognizable public peer.

Peer Set

Compare Top 5

vs KREF, BXMT, GPMT, TRTX

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

NREF SEC Filings & Documents

NexPoint Real Estate Finance, Inc. (NREF) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 20, 2026·SEC

Material company update

Aug 6, 2026·SEC

Material company update

Jun 2, 2026·SEC

10-K Annual Reports

3
FY 2026

Mar 31, 2026·SEC

FY 2025

Mar 27, 2025·SEC

FY 2024

Mar 22, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 13, 2026·SEC

FY 2026

May 15, 2026·SEC

FY 2025

Nov 13, 2025·SEC

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NREF Frequently Asked Questions

NexPoint Real Estate Finance, Inc. (NREF) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is NexPoint Real Estate Finance, Inc.'s revenue?

NexPoint Real Estate Finance, Inc. (NREF) reported $134.3M in revenue for fiscal year 2025. This represents a 8829% increase from $1.5M in 2015.

How fast is NexPoint Real Estate Finance, Inc. growing?

NexPoint Real Estate Finance, Inc. (NREF) grew revenue by 14.3% over the past year. This is steady growth.

Is NREF profitable?

Yes, NexPoint Real Estate Finance, Inc. (NREF) is profitable, generating $100.8M in net income for fiscal year 2025 (83.3% net margin).

Dividend & Returns
Does NREF pay dividends?

Yes, NexPoint Real Estate Finance, Inc. (NREF) pays a dividend with a yield of 7.79%. This makes it attractive for income-focused investors.

What is NREF's return on equity?

NexPoint Real Estate Finance, Inc. (NREF) has a return on equity (ROE) of 15.0%. This is reasonable for most industries.

Industry Metrics
What is NexPoint Real Estate Finance, Inc.'s FFO?

NexPoint Real Estate Finance, Inc. (NREF) generated Funds From Operations (FFO) of $105.2M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Is NREF a good dividend stock?

NexPoint Real Estate Finance, Inc. (NREF) offers a 7.79% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

What if you invested $1,000 in NREF back in 2015?

Total return calculator · dividends reinvested · 11+ years of data

See returns →