Financial Data and Key Metrics Changes - The company reported net income of $0.52 per diluted share for Q4 2025, an increase from $0.43 in Q4 2024, driven by unrealized gains on preferred stock and stock warrant investments [4] - Earnings available for distribution (EAD) was $0.48 per diluted share, down from $0.83 in Q4 2024, while cash available for distribution (CAD) increased to $0.53 per diluted share from $0.47 in the prior quarter [4] - For the full year, net income was $2.09 per diluted share, more than double the $1.02 reported in 2024, primarily due to higher net interest income [6] - Interest income rose to $89.9 million in 2025 from $72.5 million in 2024, while interest expense decreased from $44.4 million to $42.8 million [6] Business Line Data and Key Metrics Changes - The portfolio consists of 92 investments with a total outstanding balance of $1.2 billion, allocated as follows: 47% multifamily, 30% life sciences, 17% single-family rental, and the remainder across storage, marina, and industrial [7] - The collateral on the portfolio is 82.5% stabilized, with a loan-to-value ratio of 63.6% and a weighted average debt service coverage ratio of 1.24 times [8] - The NexPoint storage portfolio finished 2025 at 91.7% occupancy, exceeding its NOI budget by 3.2% and growing NOI by 13% over 2024 [19] Market Data and Key Metrics Changes - Geographically, collateral is concentrated in Massachusetts (24%), Texas (16%), and California (7%), with significant exposure to life sciences in Massachusetts and California [7] - The self-storage industry is experiencing occupancy pressure, with the average ending 2025 at 89%, down 210 basis points from the start of the year [18] Company Strategy and Development Direction - The company is focused on recession-resilient property types such as residential and self-storage, avoiding investments in AI scare trade assets [11] - The strategy includes actively managing the B-Pieces portfolio to unlock value and improve capital efficiency, with plans to refinance remaining unsecured notes in the first half of 2026 [10][9] - The company is optimistic about the multifamily sector, expecting positive rent inflection in the second half of 2026 due to structural demand and a decline in new market rate deliveries [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in dividend sustainability, noting that CAD is a better indicator of dividend coverage than EAD [27] - The company anticipates a leveling off of credit loss provisions in 2026, with no significant problem areas in the portfolio [38] - There is optimism regarding life sciences leasing activity, driven by demand from AI companies needing purpose-built lab spaces [42] Other Important Information - The board declared a dividend of $0.50 per share for Q1 2026, which is 1.06 times covered by cash available for distribution [4] - The company raised $60.5 million in gross proceeds from a Series B preferred stock offering [5] Q&A Session Summary Question: Dividend sustainability and confidence in current level - Management indicated that while EAD is below CAD, they believe CAD is a better indicator for dividend coverage and sustainability, and they feel well-positioned for future dividend sustainability [26][28] Question: Areas of portfolio excitement and impact of regulations - Management is particularly focused on life sciences and build-to-rent assets, believing there will be continued demand for capital in these areas despite proposed regulations [30][32] Question: Provision for credit loss and expectations - Management explained that one-third of the $12 million provision was a general reserve, with expectations for it to level off in 2026 [38] Question: Characteristics driving positive performance in life science projects - The Alyfe Park project is noted for its purpose-built characteristics and strategic location, which have driven leasing activity despite broader market challenges [39][41] Question: Details on loans made in the quarter - Management provided details on loans funded, including a $22.5 million loan at an 11% coupon, emphasizing a selective approach to investment opportunities [47]

Financial Data and Key Metrics Changes - The company reported net income of $0.52 per diluted share for Q4 2025, an increase from $0.43 in Q4 2024, driven by unrealized gains on preferred stock and stock warrant investments [4] - Earnings available for distribution (EAD) was $0.48 per diluted share, down from $0.83 in Q4 2024, while cash available for distribution (CAD) increased to $0.53 per diluted share from $0.47 in the prior quarter [4] - For the full year, net income was $2.09 per diluted share, more than double the $1.02 reported in 2024, primarily due to higher net interest income [6] - Interest income rose by $17.4 million to $89.9 million for 2025, while interest expense decreased from $44.4 million to $42.8 million [6] Business Line Data and Key Metrics Changes - The portfolio consists of 92 investments with a total outstanding balance of $1.2 billion, allocated as follows: 47% multifamily, 30% life sciences, 17% single-family rental, and the remainder across storage, marina, and industrial [7] - The collateral on the portfolio is 82.5% stabilized, with a loan-to-value ratio of 63.6% and a weighted average debt service coverage ratio of 1.24 times [8] - The NexPoint storage portfolio finished 2025 at 91.7% occupancy, exceeding its NOI budget by 3.2% and growing NOI by 13% over 2024 [19] Market Data and Key Metrics Changes - Geographically, collateral is concentrated in Massachusetts (24%), Texas (16%), and California (7%), with significant exposure to life sciences in Massachusetts and California [7] - The self-storage industry is facing occupancy pressure, with the average ending 2025 at 89%, down 210 basis points from the start of the year [18] Company Strategy and Development Direction - The company is focused on recession-resilient property types such as residential and self-storage, avoiding investments in AI scare trade assets [11] - The company is optimistic about the multifamily sector, expecting positive rent inflection in the second half of 2026 due to structural demand and a decline in new market rate deliveries [16] - The company is actively pursuing opportunities in build-to-rent assets, with a pipeline consisting of various investments across multifamily, life sciences, and self-storage [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in dividend sustainability, noting that cash available for distribution is a better indicator of coverage than earnings available for distribution [27] - The company anticipates that the demand for life sciences and residential properties will continue to grow, driven by demographic trends and advancements in health and wellness [16][42] - Management believes that the regulatory environment will create opportunities in the build-to-rent sector, particularly if institutional buyers face limitations [32] Other Important Information - The company raised $60.5 million in gross proceeds from a Series B preferred stock offering and launched a Series C preferred stock at 8% [5][9] - The company refinanced $36.5 million in unsecured notes with a new $45 million offering at 7.875%, positioning itself well in a declining interest rate environment [9] Q&A Session Summary Question: Dividend sustainability and confidence in current level - Management noted that EAD is slightly below CAD, but CAD is viewed as a better indicator for dividend coverage, and they feel well-positioned for future sustainability [27][28] Question: Areas of portfolio excitement and impact of regulations - Management is focused on life sciences and build-to-rent assets, believing there are significant opportunities in these sectors despite potential regulatory changes [31][32] Question: Provision for credit loss and future expectations - Management indicated that the recent provision for credit loss was conservative and expects it to level off in 2026 [38] Question: Characteristics driving positive performance in life science projects - The Alyfe Park project is purpose-built and well-located, which has driven leasing activity despite challenging market dynamics [40][41] Question: Details on loans made in the quarter - Management provided details on loans, including a $22.5 million loan at 11% and emphasized a focused approach to investment selection [48]

NexPoint Real Estate Finance (NYSE:NREF) Q4 2025 Earnings call February 26, 2026 11:00 AM ET Speaker5Thank you for standing by. My name is Jordan, and I'll be your conference operator today. At this time, I'd like to welcome everyone to the NexPoint Real Estate Finance Q4 2025 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star follo ...

NYSE:NREF 4Q 2025 Financial Supplement February 26, 2026 CONTACT NEXPOINT REAL ESTATE FINANCE (NYSE:NREF) 300 Crescent Court, Suite 700 Dallas, Texas 75201 (w) nref.nexpoint.com INVESTOR RELATIONS Kristen Griffith (e) kgriffith@nexpoint.com Cautionary Statements FORWARD LOOKING STATEMENTS This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management's current expectations, assumptions and beliefs. Forward-looki ...

DALLAS, Feb. 26, 2026 /PRNewswire/ -- NexPoint Real Estate Finance, Inc. ("NREF" or the "Company") (NYSE: NREF) today reported its financial results for the quarter ended December 31, 2025. NREF reported net income attributable to common stockholders of $13.6 million, or 0.52 per diluted share1, for the three months ended December 31, 2025. ...

EXHIBIT 99.1 Contact: Kristen Griffith Investor Relations IR@nexpoint.com Media: pro-nexpoint@prosek.com NREF Announces Fourth Quarter 2025 Results, Provides First Quarter 2026 Guidance Dallas, TX, Thursday, February 26, 2026 – NexPoint Real Estate Finance, Inc. ("NREF" or the "Company") (NYSE: NREF) today reported its financial results for the quarter ended December 31, 2025. NREF reported net income attributable to common stockholders of $13.6 million, or 0.52 per diluted share 1 , for the three months en ...

Core Viewpoint - NexPoint Real Estate Finance, Inc. has announced the final income allocations for its 2025 dividend distributions on common stock and preferred stock, detailing the taxable income and capital gains for shareholders [1]. Summary by Category Common Shares - The dividend distribution per share is set at $0.50000 for two payment dates: March 31, 2025, and June 30, 2025 - Taxable ordinary income per share is $0.02966 for both payment dates - There are no taxable capital gains or unrecaptured Section 1250 gains, with a return of capital per share of $0.47034 for both distributions [1]. Series A Preferred Shares - The dividend distribution per share is $0.53125 for each of the payment dates: January 27, 2025, April 25, 2025, and July 25, 2025 - The entire amount of $0.53125 is classified as taxable ordinary income, with no taxable capital gains or unrecaptured Section 1250 gains [1]. Series B Preferred Shares - The dividend distribution per share is $0.18750 for payment dates on February 5, 2025, and March 5, 2025 - Similar to Series A, the entire amount is classified as taxable ordinary income, with no taxable capital gains or unrecaptured Section 1250 gains [1]. - It is noted that several CUSIPs for Series B may not have received all listed payments due to issuance after the payable/record dates [1]. Tax Treatment - 98.374% of the taxable ordinary income is treated as a qualified REIT dividend under Section 199A - 1.626% of the taxable ordinary income qualifies as dividend income eligible for the dividends received deduction for corporate taxpayers [1]. Company Overview - NexPoint Real Estate Finance, Inc. is a publicly traded REIT focused on originating and investing in various real estate finance products, including first-lien mortgage loans and multifamily properties, with its common stock and Series A Preferred Stock listed on the NYSE [1].

DALLAS, Jan. 27, 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, February 26, 2026, at 11:00 a.m. ET (10:00 a.m. CT), to discuss fourth quarter 2025 financial results.   The conference call can be accessed live over the phone by dialing 888-660-4430 or, for international callers, +1 646-960-0537 and using passcode Conference ID: 6891136.  A live audio webcast of the call will be availab ...

Core Insights - 2025 has been a successful year for mortgage REITs, particularly those focused on safer agency securities, benefiting from lower funding costs on repurchase agreements [1] Group 1: Performance of Mortgage REITs - Mortgage REITs (mREITs) with a focus on safer agency securities have performed well in 2025 [1] - The success of these mREITs is attributed to lower funding costs, which have positively impacted their financial performance [1] Group 2: Investment Approach - The investment strategy discussed includes a combination of long stock positions with covered calls and cash secured puts, emphasizing a fundamental long-term perspective [1]

Core Insights - 2025 has been a successful year for mortgage REITs, with performance varying based on credit exposure, particularly benefiting those focused on safer agency securities due to lower funding costs on repurchase [1] Group 1: Industry Performance - Mortgage REITs focused on safer agency securities have performed well in 2025 [1] - The success of these mREITs is attributed to lower funding costs [1]