NexPoint Real Estate ate Finance (NREF)
NYSE:NREF
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Earnings Data
Report Date
Jul 23, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.39Last Year’s EPS
0.43Same Quarter Last Year
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented several strong, tangible positive developments that materially improved capital flexibility and near-term economics — notably the refinancing into a $242M TRS facility (SOFR + 375 bps), the re-REMIC that produced $0.46 of book value uplift and expected $0.34 of annual CAD accretion, a sizable and accretive pipeline, meaningful CAD growth (+~28.9% YoY), low leverage (net debt/equity <1x), and operational initiatives (AI) to drive efficiency. Counterbalancing these positives are a sizable YoY decline in GAAP net income (~40%), modest unrealized losses that slightly compressed book value (-0.3%), concentration in residential and life sciences exposure, and ongoing rate volatility and short debt maturities that represent execution and market risk. Overall, the highlights — including structural liability relief, clear accretive capital recycling, improving CAD, and a strong pipeline — outweigh the lowlights.Company Guidance
Refinancing and New TRS Facility
Refinanced $180.0M of senior unsecured notes maturing May 1 with a new $242.0M total return swap facility priced at SOFR + 375 bps (3-year term + 1-year extension). Transaction upsized capacity (~$45M incremental deployment capacity), aligns floating-rate liabilities with assets, adds back-lever optionality, engaged 20+ counterparties, and avoided dilutive equity issuance.
Re-REMIC Execution and Book Value Accretion
Executed a re-REMIC selling FRAN 2017-K62 B-Piece to Mizuho at 92.7 (purchased at 68.69 in 2021), reinvested into HRR tranche at an 18.5% yield. Transaction generated $0.46 per share of book value appreciation, reduced repo financing by $75M, and is expected to drive approximately $0.34 per share of annual cash available for distribution (CAD) accretion.
Improved Cash Available for Distribution
Cash available for distribution was $0.58 per diluted share in Q1 2026 versus $0.45 in Q1 2025, an increase of ~28.9%, and provided 1.16x coverage on the $0.50 per share dividend paid in Q1.
Stable / Growing Earnings Available for Distribution and Guidance
Earnings available for distribution (EAD) of $0.43 per diluted share in Q1 2026 (up ~4.9% vs. $0.41 in Q1 2025). Q2 guidance: EAD midpoint $0.43 (range $0.38–$0.48) and CAD midpoint $0.54 (range $0.49–$0.59).
Strong Portfolio Credit Metrics and Low Leverage
Portfolio of 90 investments with $1.1B outstanding; 81.2% of collateral stabilized, weighted average LTV 59.9%, weighted average DSCR 1.32x. Total debt outstanding $665.2M with weighted average cost 5.2% and net debt-to-equity below 1.0x (among the lowest in the sector).
Attractive Pipeline and Deployment Activity
Pipeline of ~ $190M across 11 active deals plus ~$275M of structured product opportunities. Funded >$30M on two new loans in the quarter that pay mid-teens coupons; management states pipeline blended returns are well in excess of cost of capital.
Operational / Strategic Enhancements (AI and Capital Options)
Announced AI deployment across underwriting, portfolio monitoring, and operations (targeting a 50% reduction in underwriting cycle time; always-on surveillance and predictive credit models). Raised $21M in Series C preferred, continue opportunistic buybacks given share price trading materially below book (~$19 book).
Sector Outperformance in Specific Verticals
Self-storage portfolio occupancy in the low 90s and NOI/rent performance materially ahead of public REIT peers (outperformance by ~300–500 bps). Residential thesis supported by a supply trough (multifamily deliveries forecast down ~49% in 2026 vs. 2025 and construction starts ~70% below 2022 peak).
NREF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
NREF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 30, 2026 | $14.34 | $14.42 | +0.56% |
Feb 26, 2026 | $14.10 | $14.15 | +0.34% |
Oct 30, 2025 | $12.39 | $12.52 | +1.05% |
Jul 31, 2025 | $12.94 | $12.45 | -3.76% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does NexPoint Real Estate ate Finance (NREF) report earnings?
NexPoint Real Estate ate Finance (NREF) is schdueled to report earning on Jul 23, 2026, Before Open (Confirmed).
What is NexPoint Real Estate ate Finance (NREF) earnings time?
NexPoint Real Estate ate Finance (NREF) earnings time is at Jul 23, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is NREF EPS forecast?
NREF EPS forecast for the fiscal quarter 2026 (Q2) is 0.39.