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NexPoint Real Estate ate Finance (NREF)
NYSE:NREF
Earnings Data
Report Date
Apr 23, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.39Last Year’s EPS
0.41Same Quarter Last Year
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call contained multiple positive execution items — strong reported net income (driven by unrealized gains), improved CAD quarter‑over‑quarter, successful capital raises (Series B) and an accretive re‑REMIC transaction expected to add ~$0.30–$0.34 per share to annual CAD. Portfolio highlights include outperformance in the storage portfolio (91.7% occupancy, +13% NOI) and promising leasing momentum at the Alewife life‑science asset. Offsetting these positives were meaningful declines in EAD year‑over‑year (-~42%), a $12M CECL provision, near‑term refinancing of $180M of unsecured notes, and broader self‑storage industry softness. On balance, management demonstrated active portfolio and capital management with clear paths to improve CAD and leverage, while some earnings and credit items warrant caution.Company Guidance
Large YoY Increase in Reported Net Income (Non‑Cash Driven)
Net income was $0.52 per diluted share in Q4 2025 versus $0.043 in Q4 2024 — an increase of approximately +1,100%, primarily driven by unrealized gains on preferred stock and stock warrant investments (non‑cash).
Dividend Maintained and Covered by CAD
Paid a regular dividend of $0.50 per share in Q4; coverage by cash available for distribution (CAD) was 1.06x. The Board declared a $0.50 per share dividend for 2026, indicating consistency in shareholder payout policy.
Improved Cash Available for Distribution and Book Value
Cash available for distribution (CAD) was $0.53 per diluted share, up from $0.47 in the prior quarter (+12.8% quarter‑over‑quarter). Book value per share rose 1.4% from Q3 to $19.10 per diluted share, driven by unrealized gains on preferreds and warrants.
Active New Loan Originations with Attractive Yields
Funded new loans including $5.7M at SOFR +900bps (14% floor), $22.5M at an 11% monthly coupon, and $17.4M across two marina loans at a 13% monthly coupon — demonstrating continued deployment into higher‑yielding senior and preferred positions.
Capital Markets Execution and Balance Sheet Actions
Raised $60.5M gross from a Series B preferred offering and launched an 8% Series C preferred (approximately $14.1M raised to date). Executed a re‑REMIC transaction that reduces mark‑to‑market repo financing and is expected to be accretive to annual CAD by ~$0.30–$0.34 per share.
Portfolio Outperformance in Self‑Storage and Life Science Momentum
NexPoint storage portfolio finished 2025 at 91.7% occupancy, exceeded NOI budget by 3.2% and grew NOI +13% versus 2024. Alewife life‑science asset is 64% leased with RFPs/LOIs/leases equal to 2.8x the project's square footage and a current 9% debt yield, with management expecting full lease‑up in 2026 and a ~12% debt yield when stabilized.
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 |
|---|---|---|---|
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% |
May 01, 2025 | $12.78 | $12.49 | -2.25% |
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 Apr 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 Apr 23, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NREF EPS forecast?
NREF EPS forecast for the fiscal quarter 2026 (Q1) is 0.39.