NYSE:NREF FORWARD LOOKING STATEMENTS 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 28 APRIL 2022 NYSE:NR EF Cautionary Statements 1Q 2022 FINANCIAL SUPPLEMENT 2Q 2025 Financial Supplement July 31, 2025 For additional information, see our filings with the SEC. Our filings with the SEC are available on our website, nref.nexpoint.com, under the "Financials" tab. 2023 dividen ...

DALLAS, July 31, 2025 /PRNewswire/ -- NexPoint Real Estate Finance, Inc. ("NREF" or the "Company") (NYSE: NREF) today reported its financial results for the quarter ended June 30, 2025.NREF reported net income attributable to common stockholders of $12.3 million, or 0.54 per diluted share1, for the three months ended June 30, 2025.NREF reported cash available for distribution2 of $10.6 million, or $0.46 per diluted common share2, for the three months ended June 30, 2025."NREF is pleased to report another st ...

Apollo Commercial Real Estate Finance (ARI) Q2 2025 Earnings Call July 30, 2025 10:00 AM ET Speaker0Thank you, operator. Good morning, and thank you for joining us on the Apollo Commercial Real Estate Finance second quarter twenty twenty five earnings call. I'm joined today as usual by Scott Wiener, our Chief Investment Officer and Anastasia Maranover, our Chief Financial Officer. ARI delivered strong performance in the 2025 marked by significant progress across originations, portfolio management, and balan ...

Financial Data and Key Metrics Changes - TRTX reported GAAP net income of $16.9 million or $0.21 per common share, with distributable earnings of $0.24 per common share, covering the quarterly dividend [12] - Book value per common share was $11.2, slightly down from $11.19 in the previous quarter [12] - The CECL reserve rate declined to 176 basis points from 199 basis points, reflecting a 12% decrease [16] Business Line Data and Key Metrics Changes - The loan portfolio grew by 15% during the second quarter, driven by strong origination volume [15] - Seven new loans were originated with total commitments of $695.6 million and a weighted average credit spread of 2.86% [13] - The REO carrying value declined by $32.5 million or approximately 12% due to the sale of two REO properties, generating a GAAP gain of $7 million [14] Market Data and Key Metrics Changes - U.S. equity markets rallied, with the S&P 500 reaching an all-time high, while corporate credit markets tightened [6] - Real estate credit markets experienced widening in loan spreads due to tariff volatility, impacting lending dynamics [6] Company Strategy and Development Direction - The company aims to leverage its liquidity position and capital deployment strategies to drive earnings growth [10] - TRTX is focused on multifamily and industrial sectors, which are seen as liquid and resilient during economic cycles [39] - The company plans to continue selling REO properties and has a strategy in place for managing and improving the performance of these assets [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of the loan portfolio, with no credit migration expected [48] - The company anticipates an elevated pace of new investments in the coming quarters, supported by a strong pipeline [25] - Management noted strong fundamentals in the multifamily sector, driven by slowing new construction and elevated borrowing rates [42] Other Important Information - TRTX's share price performance has led its peers with a cumulative return of 68% since January 2023 [19] - The company maintains a 100% performing loan portfolio and a stable liability structure that is 95% non mark to market [18] Q&A Session Summary Question: Future quarterly origination volumes - Management indicated that elevated origination volumes are expected to continue due to attractive lending opportunities as banks pull back [24] Question: Loan size targeting - The company has maintained a consistent scale in loan sizes, with larger loans providing diversification benefits [27] Question: REO sales and potential gains - Management noted a history of selling REO properties at book gains and plans to move several remaining properties to market soon [32] Question: Portfolio opportunity and repositioning - The focus remains on multifamily and industrial sectors, with ongoing monitoring of refinancing trends and potential acquisition loans [40] Question: Credit risk migration - Management stated that current reserves reflect future expectations, and no significant credit migration is anticipated [47]

Financial Performance - Net income available to common stockholders was $18 million, or $0.12 per diluted share[10] - Distributable Earnings reached $36 million, or $0.26 per diluted share[10] - The company declared common stock dividends of $0.25 per share, resulting in a dividend yield of 10.2%[10] Loan Portfolio - The total loan portfolio amounted to $8.6 billion with a weighted-average unlevered all-in yield of 7.8%, with 98% in first mortgages and 96% floating rate[10] - New loan commitments totaled $2.0 billion year-to-date, with $1.4 billion funded at close, and $1.4 billion in Q2, with $916 million funded at close[10] - Loan repayments and sales amounted to $724 million year-to-date, with $631 million in Q2[10] Capitalization and Liquidity - The company ended the quarter with a total common equity book value of $1.7 billion[10] - Total liquidity at the end of the quarter was $208 million, including $182 million in cash and $26 million available leverage[10] - A new $750 million Term Loan B due June 2030 was refinanced, bearing interest at SOFR + 3.25%[10] Real Estate Owned (REO) - Total REO held for investment had a net equity of $444 million, comprised of Brooklyn Multifamily Development ($289 million), D C Hotel ($85 million), and Atlanta Hotel ($70 million)[21] - Nine units at 111 West 57th Street closed, generating ~$170 million of net sales proceeds, ~$141 million of which reduced ARI's basis[23] Foreign Exchange Risk Mitigation - The company reported a total foreign loan capital stack of $4.307 billion, with $3.267 billion offset by local currency denominated secured debt arrangements[52] - The net equity of foreign loans was $1.041 billion[53]

Core Viewpoint - A class action lawsuit has been filed against Broadmark Realty Capital Inc. regarding the merger with Ready Capital Corporation, alleging misleading statements in the proxy statement used to solicit shareholder support for the merger [1][5]. Group 1: Lawsuit Details - The lawsuit claims that the proxy statement contained false or misleading statements and failed to disclose significant financial distress among borrowers in Ready Capital's portfolio due to high interest rates [5]. - It is alleged that an oversupply of multifamily properties limited the ability of Ready Capital borrowers to raise rents necessary to cover growing debt costs [5]. - A major development project acquired during the merger, valued at approximately $500 million, faced catastrophic setbacks including cost overruns and construction delays [5]. - The lawsuit asserts that Ready Capital's expected credit loss reserves were materially understated, impacting financial projections related to earnings and dividends [5]. Group 2: Participation Information - Individuals who held Broadmark common stock as of the merger date may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - Interested parties can join the class action by visiting the provided link or contacting the law firm for more information [3][6].

Key Takeaways NLY posted Q2 EAD of 73 cents per share, up y/y from 68 cents and surpassing the estimate of 72 cents.Net interest spread rose to 1.47% from 1.24%, and total assets grew 6.7% quarter over quarter.Book value per share fell to $18.45 from $19.25, while economic leverage held steady at 5.8X.Annaly Capital Management, Inc. (NLY) reported second-quarter 2025 adjusted earnings available for distribution (EAD) per average share of 73 cents, which beat the Zacks Consensus Estimate of 72 cents. The fig ...

MIAMI BEACH, Fla., July 23, 2025 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) (the "Company" or "Starwood Property Trust") today announced that the Company has closed the previously announced acquisition of Fundamental Income Properties, LLC ("Fundamental"), a fully integrated net lease real estate operating platform and owned portfolio, for approximately $2.2 billion from Brookfield Asset Management."We are pleased to announce the completion of our acquisition of Fundamental which should prov ...

KKR Real Estate Finance Trust (KREF) Q2 2025 Earnings Call July 23, 2025 10:00 AM ET Company ParticipantsJack Switala - Director - Capital Markets & IRMatthew Salem - CEO, Director, Partner & Head - Real Estate CreditW. Patrick Mattson - President & COOJade Rahmani - Managing DirectorJohn Nickodemus - VP - Equity ResearchConference Call ParticipantsRick Shane - AnalystSteven Delaney - AnalystOperatorGood morning, and welcome to the KKR Real Estate Finance Trust Incorporated Second Quarter twenty twenty five ...

Financial Data and Key Metrics Changes - For Q2 2025, the company reported a GAAP net loss of $35 million, or negative $0.53 per share, with a book value per share of $13.84 as of June 30, 2025 [3] - The distributable loss was $3 million, primarily due to taking ownership of the West Hollywood property, while prior to realized losses, distributable earnings were $16 million, or $0.24 per share [3][4] - A cash dividend of $0.25 was paid for the second quarter [4] Business Line Data and Key Metrics Changes - Originations in the quarter totaled $211 million, consisting of two loans secured by industrial and multifamily properties [7] - The company had two full repayments and six partial repayments totaling $450 million, with projections of nearly $1 billion in incremental repayments over the second half of the year [7] - The company downgraded a Boston Life Science asset from a four-rated loan to a five-rated loan and a Chicago office loan from a three-rated loan to a four-rated loan due to market deterioration [8][9] Market Data and Key Metrics Changes - The real estate credit market has seen a recovery in transaction activity and loan demand, with significant opportunities in the loan pipeline [5] - Competition has returned, with most lenders active in the market, leading to attractive lending opportunities driven by the ability to lend on reset values below replacement costs [6] - The Life Science sector represents 12% of the portfolio, with 60% of the assets being newly constructed and purpose-built properties targeting larger pharmaceutical tenants [10] Company Strategy and Development Direction - The company is focusing on diversifying its portfolio geographically into Europe and creating more duration through CMBS investments [7] - An active pipeline in the European loan market is anticipated, with new originations expected by the end of the year [7] - The company aims to maximize shareholder value through proactive management of the portfolio and capital allocation across share buybacks and loan origination [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the lending opportunity remaining highly attractive despite competition, with healthy fundamentals across most property types [6] - The company is closely monitoring leverage ratios and expects to match repayments with new originations [26] - Management noted that many borrowers are pulling financing forward to buy time for asset recovery, indicating a positive outlook for rental increases and property values [33] Other Important Information - The company repurchased $20 million of KREF stock in Q2 at a weighted average price of $9.21, with nearly $40 million repurchased over the last three quarters [15] - At quarter-end, the company had $757 million of liquidity available, including $108 million in cash and $620 million of undrawn corporate revolver capacity [16] Q&A Session Summary Question: Can you talk about the level of ROEs and loan spreads in the current market? - Management indicated that the pipeline is robust, with ROEs in the mid-11s to end of the 13s, and loan spreads have compressed back to pre-tariff levels [20][25] Question: What kind of originations do you expect in the second half? - Management expects to actively originate loans to match the anticipated $1 billion in repayments, with no significant near-term maturities on the radar [26][27] Question: Can you provide insight into the 2026 maturity wall? - Management noted that many maturities are being pulled forward, and they expect less credit issues around maturities as most problems have already surfaced [30][34] Question: How do you differentiate between refinancing and extensions? - The majority of refinancings are new credits, while modifications and extensions are less common, indicating a focus on new opportunities [39] Question: What is the timeline for repatriating capital from the REO portfolio? - Management provided a timeline for various assets, indicating that some could see capital repatriation within 12 to 18 months, while others may take longer [79][87]