NEXPOINT DIVERSIFIED REAL ESTATE TRUST (NXDT)
NexPoint Diversified Real Estate Trust (NXDT) functions as an externally managed, diversified real estate investment trust (REIT). Both its common stock and its 5.50% Series A Cumulative Preferred Shares (Series A Preferred) are publicly traded on the New York Stock Exchange under the symbols NXDT and NXDT-PA, respectively. The Trust's core financial aim is to deliver both consistent income streams and capital growth to its shareholders. It pursues this by strategically allocating capital across a broad spectrum of commercial real estate property types. Furthermore, NXDT invests across different tiers of the capital structure, encompassing instruments such as mortgage debt, mezzanine debt, and both common and preferred equity. Key property segments targeted for investment primarily include industrial, hospitality, net lease, retail, office, storage, and healthcare. The portfolio may also encompass multifamily and single-family rental properties that are currently held. On occasion, and to a restricted degree, NXDT may also hold, acquire, or trade in certain non-real estate securities.
Sector: Real Estate Investment Trusts
Industry: REIT - Diversified
NexPoint Diversified Real Estate Trust
NYSE:NXDTFinancial Services · Asset Management
-1.01%$4.89
AH Close$4.85-0.82%vs close
AH Close$4.85-0.82%vs close
Mkt Cap$259.69M
Float32.46M
O/S53.11M
Inst Own50.2%
SI2.8%
Div Yield9.82%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$91.96M
Net Income-$125.05M
Total Assets$1.07B
Free Cash Flow$9.17M
Debt & Equity
Debt 29%
Equity 69%
Preferred 2%
Total Debt$309.63M
Total Equity$720.47M
Preferred Stock$20.38M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in NXDT's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$1.07B
Liabilities$353.87M
Accounts Receivable$2.87M
Accounts Payable$39.44M
Inventory$0
PP&E (Net)$2M
Goodwill$0
Intangible Assets$10.98M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Revenue | $91.96M | $37.76M | -$59.37M | $90.95M | $258.95M | -$109.79M | $83.1M | $49.91M | $91.26M | $23.78M | $180.24M | $72.88M | $55.52M | $41.68M |
| YoY Growth | 143.5% | -163.6% | -165.3% | -64.9% | -335.9% | -232.1% | 66.5% | -45.3% | 283.7% | -86.8% | 147.3% | 31.3% | 33.2% | - |
| Cost of Revenue | $84.15M | $28.35M | $15.9M | $6.46M | $2.43M | $4.65M | $10.94M | $6.36M | $3.48M | $7.25M | $12.74M | $0 | $0 | $0 |
| Gross Profit | $7.81M | $9.41M | -$75.27M | $84.5M | $256.51M | -$114.44M | $72.17M | $43.55M | $87.78M | $16.53M | $167.5M | $72.88M | $55.52M | $41.68M |
| Gross Margin | 8.5% | 24.9% | 126.8% | 92.9% | 99.1% | 104.2% | 86.8% | 87.3% | 96.2% | 69.5% | 92.9% | 100.0% | 100.0% | 100.0% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $4 | -$1 | $0 | $0 | $0 |
| Selling, General, and Administrative | $23.78M | $20.21M | $13.43M | $20.86M | $6.39M | $6.09M | $6.01M | $3.66M | $3.46M | $4 | -$1 | $15.31M | $11.96M | $9.7M |
| Other | $80.99M | $44.4M | $25.8M | $4.77M | $114K | $241K | $370K | $76K | $190K | -$3.44M | -$4.64M | $0 | $0 | $0 |
| Total Operating Expenses | $104.77M | $64.61M | $39.24M | $25.62M | $6.5M | $6.33M | $6.38M | $3.73M | $3.65M | $18.9M | $272.26M | $111.99M | $231.19M | $22.85M |
| Operating Income (EBIT) | -$96.96M | -$55.2M | -$114.51M | $58.88M | $250.01M | -$120.77M | $65.78M | $39.82M | $84.13M | $69.33M | $145.7M | $57.56M | $43.48M | $31.79M |
| Operating Margin | -105.4% | -146.2% | 192.9% | 64.7% | 96.5% | 110.0% | 79.2% | 79.8% | 92.2% | 291.5% | 80.8% | 79.0% | 78.3% | 76.3% |
| Interest Expense | $26.6M | $28.35M | $15.9M | $6.46M | $2.43M | $4.65M | $10.94M | $6.36M | $3.48M | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $9.38M | $7.22M | $7.03M | $8.42M | $7.58M | $8.72M | $12.86M | $19.94M | $12.34M | $3.52M | $4.06M | $4.07M | $3.41M | $4.17M |
| Other Income (Expense) | -$30.18M | $0 | $0 | -$9.97M | $0 | $0 | $0 | $0 | $0 | $22.98M | -$262.44M | $123.23M | $239.81M | $28.57M |
| Income Before Tax (EBT) | -$127.15M | -$55.2M | -$114.51M | $48.9M | $250.01M | -$120.77M | $65.78M | $39.82M | $84.13M | $92.4M | -$116.74M | $180.79M | $283.29M | $60.37M |
| Income Tax Expense | -$111K | $1.37M | $2.73M | $9.97M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$125.05M | -$46.73M | -$117.24M | $48.9M | $250.01M | -$120.77M | $65.78M | $39.82M | $84.13M | $92.4M | -$116.74M | $180.79M | $283.29M | $60.37M |
| Net Income Margin | -136.0% | -123.8% | 197.5% | 53.8% | 96.5% | 110.0% | 79.2% | 79.8% | 92.2% | 388.5% | -64.8% | 248.1% | 510.3% | 144.8% |
| Supplementary Data | ||||||||||||||
| EPS | -2.81 | -1.28 | -3.26 | 1.31 | 6.58 | -2.64 | 1.62 | 1.23 | 3.64 | 4.77 | -7.31 | 11.32 | 17.74 | 3.78 |
| Diluted EPS | -2.81 | -1.28 | -3.26 | 1.31 | 6.58 | -2.64 | 1.62 | 1.23 | 3.64 | 4.77 | -7.31 | 11.32 | 17.74 | 3.78 |
| Weighted Average OS | 46.25M | 40.23M | 37.33M | 37.17M | 37.30M | 45.67M | 40.61M | 32.34M | 22.77M | 19.38M | 15.97M | 15.97M | 15.97M | 15.97M |
| EBITDA | -$109.41M | -$39.6M | -$100.57M | $66.05M | $250.01M | -$120.77M | $65.78M | $39.82M | $84.13M | $92.32M | -$262.44M | $57.56M | $43.48M | $0 |
| EBITDA Margin | -119.0% | -104.9% | 169.4% | 72.6% | 96.5% | 110.0% | 79.2% | 79.8% | 92.2% | 388.2% | -145.6% | 79.0% | 78.3% | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Assets | ||||||||||||||
| Current Assets | ||||||||||||||
| Cash and Cash Equivalents | $8.17M | $8.79M | $20.61M | $13.36M | $2.24M | $1.97M | $330K | $0 | $599K | $22.23M | $45.58M | $2.16M | $2.89M | $69K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $8.17M | $8.79M | $20.61M | $13.36M | $2.24M | $1.97M | $330K | $0 | $599K | $22.23M | $45.58M | $2.16M | $2.89M | $69K |
| Accounts Receivable | $2.87M | $9.96M | $10.43M | $1.9M | $1.31M | $1.25M | $26.79M | $3.2M | $5.56M | $7.83M | $28.18M | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $10.26M | $47.14M | $0 | $0 | -$584.24M | -$673.17M | $0 | $0 | $0 |
| Other Current Assets | $0 | $0 | $0 | $46.03M | $0 | $8.7M | $20.67M | $0 | $0 | $695K | $63K | $53.78M | $86.29M | $46.57M |
| Total Current Assets | $11.03M | $18.75M | $31.03M | $61.3M | $4.06M | $3.22M | $27.12M | $3.25M | $6.27M | $8.53M | $28.24M | $55.94M | $89.18M | $46.63M |
| Long-Term Assets | ||||||||||||||
| Property, Plant & Equipment Net | $2M | $384.77M | $259.73M | $266.08M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $10.98M | $2.63M | $4.18M | $10.98M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $67.41M | $85.15M | $66.26M | $893.28M | $1.04B | $842.32M | $1.31B | $0 | $0 | $554.17M | $542.21M | $1.29B | $1.07B | $699.85M |
| Deferred Tax Assets | $498K | $2.62M | $2.9M | $2.25M | $0 | $854.1M | $1.35B | $0 | $0 | $562.7M | $627.65M | $0 | $0 | $0 |
| Other Long-Term Assets | -$67.41M | $730.93M | $734.23M | -$10.98M | $1.04B | -$854.1M | -$1.35B | $1.04B | $685.67M | -$562.7M | -$570.45M | $23.1M | $86K | -$699.85M |
| Total Long-Term Assets | $13.47M | $1.21B | $1.07B | $1.16B | $1.04B | $842.32M | $1.31B | $1.04B | $685.67M | $554.17M | $599.41M | $1.31B | $1.07B | $699.85M |
| Other Assets | $1.05B | $0 | $0 | $0 | $0 | $8.57M | $20.22M | $0 | $0 | $0 | $0 | $0 | $0 | $14K |
| Total Assets | $1.07B | $1.22B | $1.1B | $1.22B | $1.05B | $854.1M | $1.35B | $1.05B | $691.94M | $562.7M | $627.65M | $1.37B | $1.16B | $746.5M |
| Liabilities | ||||||||||||||
| Current Liabilities | ||||||||||||||
| Accounts Payable | $39.44M | $31.46M | $10.03M | $13.87M | $63K | $3K | $6.61M | $9.41M | $4.14M | $1.05M | $10.17M | $17.07M | $5.11M | $13.17M |
| Short-Term Debt | $0 | $0 | $0 | $144.41M | $0 | $0 | $147.94M | $0 | $0 | $0 | $0 | $0 | $1.92M | $0 |
| Current Income Tax Payable | $273K | $481K | $587K | $10.72M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | -$45M | -$141.33M | $0 | $0 | -$251.67M | -$445.81M | $0 | $0 | $0 |
| Other Current Liabilities | -$43.13M | $0 | $0 | $10.72M | $0 | -$16.24M | -$188.23M | $0 | $0 | $6.96M | $30.02M | $34.83M | $92.7M | $32.07M |
| Total Current Liabilities | $273K | $31.46M | $10.03M | $170.37M | $63K | $3K | $6.61M | $9.41M | $4.14M | $22.26M | $41.85M | $110.71M | $101.65M | $45.24M |
| Long-Term Liabilities | ||||||||||||||
| Long-Term Debt | $309.63M | $357.92M | $201.45M | $26.87M | $42.5M | $45M | $180.44M | $239.51M | $31.93M | $124.98M | $215.93M | $385.34M | $318.5M | $225M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $63.28M | $379.37M | $0 | $0 | $147.9M | $261.57M | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | -$18.28M | -$50.99M | $0 | $0 | -$139.41M | -$229.6M | $0 | $0 | $0 |
| Other Long-Term Liabilities | $840K | $1.92M | $1.78M | $1.8M | $10.99M | -$45M | -$180.44M | $28.99M | $63.56M | $656K | $3.79M | $11.6M | $16.11M | -$225M |
| Total Long-Term Liabilities | $310.47M | $359.84M | $203.23M | $34.7M | $53.49M | $45M | $328.38M | $268.49M | $95.49M | $125.64M | $219.72M | $396.93M | $334.61M | $225M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $18.28M | $44.38M | $0 | $0 | -$147.89M | -$261.56M | $0 | $0 | $0 |
| Total Liabilities | $353.87M | $391.3M | $213.26M | $205.07M | $53.55M | $63.28M | $379.37M | $277.91M | $99.63M | $16K | $16K | $507.64M | $436.26M | $270.24M |
| Stockholders' Equity | ||||||||||||||
| Preferred Stock | $20.38M | $3K | $3K | $3K | $83.25M | $0 | $0 | $0 | $0 | $29.69M | $0 | $0 | $0 | $0 |
| Common Stock | $50K | $43K | $38K | $37K | $913.92M | $0 | $0 | $32K | $23K | $0 | $0 | $64K | $64K | $64K |
| Retained Earnings | -$362.08M | -$202.82M | -$126.58M | $17.95M | -$2.71M | -$391.61M | -$255.35M | -$312.6M | -$1.96M | $414.8M | $366.08M | -$277.51M | -$415.04M | -$663.37M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $414.8M | $366.08M | $0 | $0 | $0 |
| Other Stockholders' Equity | $1.08B | $1.04B | $1.01B | $999.85M | $83.25M | $1.18B | $1.23B | $1.08B | $594.24M | $147.9M | $261.57M | $1.14B | $1.14B | $1.14B |
| Total Equity | $720.47M | $836.51M | $885.07M | $1.02B | $994.46M | $790.82M | $973.64M | $767.71M | $592.31M | $562.7M | $627.65M | $860.88M | $724.48M | $476.26M |
| Minority Interest | $309K | -$2.97M | $0 | $0 | $0 | $36M | $308.02M | $0 | $0 | $124.98M | $215.93M | $0 | $0 | $0 |
| Total Liabilities and Equity | $1.07B | $1.23B | $1.1B | $1.22B | $1.05B | $854.1M | $1.35B | $1.05B | $691.94M | $562.72M | $627.67M | $1.37B | $1.16B | $746.5M |
| Supplementary Data | ||||||||||||||
| Total Debt | $309.63M | $357.92M | $201.45M | $177.31M | $42.5M | $45M | $328.38M | $239.51M | $31.93M | $695K | $63K | $385.34M | $320.42M | $0 |
| Net Debt | $301.47M | $349.12M | $180.85M | $163.96M | $40.26M | $43.03M | $328.05M | $239.51M | $31.33M | -$21.53M | -$45.52M | $383.18M | $317.53M | -$69K |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Operating Activities | ||||||||||||||
| Net Income | -$125.05M | -$46.73M | -$117.24M | $46.59M | $245.46M | -$120.77M | $65.78M | $39.82M | $84.13M | $92.4M | -$116.74M | $180.79M | $283.29M | $60.37M |
| Depreciation & Amortization | $17.74M | $15.6M | $13.94M | $7.17M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Income Tax | $0 | $278K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $3.01M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||
| Accounts Receivable | $0 | $0 | $0 | $741K | -$1.24M | $21.87M | -$23.13M | $2.37M | $2.27M | $20.34M | $25.6M | -$42.93M | -$4.99M | -$34.42M |
| Inventory | $0 | $0 | $0 | $0 | $110K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $0 | -$5.58M | $0 | $0 | $0 | $0 | $3.89M | -$63.74M | $0 | $0 | $0 |
| Other Working Capital | $14.79M | $2.13M | -$24.39M | $10.67M | $405K | -$13.82M | $4.3M | -$29.72M | $42.88M | -$1.04M | -$288K | $142.38M | -$62.77M | $0 |
| Total Working Capital Change | $14.79M | $2.13M | -$24.39M | $11.41M | -$6.31M | $8.04M | -$18.83M | -$27.35M | $45.15M | $23.19M | -$38.42M | $99.45M | -$67.76M | -$34.42M |
| Other Non-Cash Items | $101.69M | $14.04M | $103.42M | $4.87M | -$201.08M | $454.62M | -$257.95M | -$366.15M | -$122.81M | -$41.56M | $213.24M | -$298.9M | -$287.02M | -$85.59M |
| Net Cash from Operating | $9.17M | -$11.66M | -$24.27M | $70.05M | $38.07M | $341.9M | -$210.99M | -$353.69M | $6.47M | $98.26M | $19.94M | -$18.66M | -$71.49M | -$25.23M |
| Investing Activities | ||||||||||||||
| Capital Expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | $0 | $42.75M | -$3.99M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$2.47M | -$34.91M | -$10.47M | -$1.13B | -$1.13B | $0 | $0 | $0 | $0 | -$323.02M | -$851.38M | $0 | $0 | $0 |
| Sales of Investments | $43.36M | $2.44M | $19.51M | $1.05B | $1.1B | $0 | $0 | $0 | $0 | $387.47M | $1.06B | $0 | $0 | $0 |
| Other Investing Activities | -$3.92M | $15.69M | $16.95M | -$14.42M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | $36.97M | $25.97M | $21.99M | -$77.58M | -$26.04M | $0 | $0 | $0 | $0 | $39.42M | $201.69M | $0 | $0 | $0 |
| Financing Activities | ||||||||||||||
| Debt Repaid | $49.52M | $8.35M | -$25.79M | $31.8M | $2.5M | $135.44M | -$34.92M | -$130.46M | $109.93M | $90.94M | $169.41M | -$66.84M | -$93.5M | - |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $324K | $236.82M | $201.77M | $139.87M | $0 | -$11K | $0 | $0 | $0 |
| Common Stock Repurchases | -$2.41M | -$202K | $0 | -$8M | -$105.07M | -$8.61M | -$5.4M | $0 | $0 | $0 | -$11K | $0 | $0 | $0 |
| Dividends Paid | -$6.01M | -$628K | -$13.41M | -$23.18M | -$20.07M | -$53.44M | -$91.73M | -$66.18M | -$46.49M | -$43.68M | -$45.99M | -$44.4M | -$35.07M | -$27.18M |
| Other Financing Activities | -$1.46M | -$463K | -$971K | -$32.22M | $83.18M | -$156.13M | $54.28M | $84.97M | $16.88M | $0 | $0 | $0 | $0 | $52M |
| Net Cash from Financing | -$43.63M | -$18.58M | $6.8M | -$55.4M | -$44.39M | -$353.29M | $228.89M | $351.01M | $333K | -$134.62M | -$215.42M | $22.44M | $58.43M | $24.82M |
| Forex Effect | $0 | $0 | $0 | $63.17M | $26.04M | $47K | -$941K | -$64K | -$7K | $80K | -$572K | -$238K | $7K | -$223K |
| Net Change in Cash | $2.51M | -$4.27M | $4.52M | $239K | -$6.33M | -$11.35M | $16.96M | -$2.74M | $6.79M | $3.14M | $5.65M | $3.54M | -$13.05M | -$631K |
| Supplementary Data | ||||||||||||||
| Operating Cash Flow | $9.17M | -$11.66M | -$24.27M | $70.05M | $38.07M | $341.9M | -$210.99M | -$353.69M | $6.47M | $98.26M | $19.94M | -$18.66M | -$71.49M | -$25.23M |
| Capital Expenditure | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $9.17M | -$11.66M | -$24.27M | $70.05M | $38.07M | $341.9M | -$210.99M | -$353.69M | $6.47M | $98.26M | $19.94M | -$18.66M | -$71.49M | -$25.23M |
| Cash at Beginning | $48.9M | $53.17M | $48.65M | $53.45M | $9M | $20.35M | $3.4M | $6.14M | -$656K | -$3.79M | -$9.44M | -$12.98M | $69K | $701K |
| Cash at End | $51.41M | $48.9M | $53.17M | $53.69M | $2.68M | $9M | $20.35M | $3.4M | $6.14M | -$656K | -$3.79M | -$9.44M | -$12.98M | $69K |