NexPoint Real Estate Finance, Inc. (NREF) Form 8-K — Nov 5, 2026
NexPoint Real Estate Finance reported a 3Q 2026 net loss attributable to common stockholders of $12.2 million, or $0.65 per diluted share, driven by $21.9 million of unrealized losses on investments and derivatives, versus net income of $5.4 million in 2Q 2026. The GAAP loss masked stronger cash fundamentals: cash available for distribution rose to $14.0 million ($0.60 per diluted share), and EAD of $0.52 per share was up 13% sequentially. The company declared a 4Q dividend of $0.50 per common share and guided 4Q 2026 EAD to $0.425 and CAD to $0.555 per diluted share at the midpoints, implying CAD coverage near 1.10x.
Key figures
- Guidance
- 4Q 2026 EAD per diluted common share guidance of $0.425 at the midpoint; CAD per diluted common share guidance of $0.555 at the midpoint; net income attributable to common stockholders estimated at $6.8M-$9.2M
- Total Assets
- 5149631000
- Cash Position
- 74938000
- Cad q3 2026
- $14.0 million ($0.60 per diluted common share)
- Ead q3 2026
- $12.2 million ($0.52 per diluted common share)
- Q4 dividend
- $0.50 per common share, payable December 31, 2026
- Dividend yields
- 13.7% implied dividend yield; 17.0% discount to book
- Total portfolio
- $1.0 billion across 83 investments
- Weighted avg ltv
- 64.7%
- Term loan upsized
- $375.0MM to $450.0MM senior secured term loan with Mizuho
- Weighted avg dscr
- 1.39x
- Book value per share
- $17.63, down 5.2% from $18.60 at 2Q 2026
- Net interest income q3
- $17.3 million, up $0.7 million vs 2Q 2026
- Cad dividend coverage q3
- 1.20x
- Series c preferred raised
- $27.9 million (1,114,155 shares)
AI analysis
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