NexPoint Real Estate Finance(NREF) - 2025 Q2 - Earnings Call Presentation

Financial Highlights - The company's book value was $3961 million, or $1740 per common share[16] - Net income was $223 million in 2Q 2025, with net income attributable to common stockholders of $123 million, or $054 per diluted common share[16] - Cash available for distribution (CAD) was $106 million, or $046 per diluted common share in 2Q 2025[16] - A 2Q 2025 dividend of $050 per common share was paid on June 30, 2025[16] Portfolio Composition - The outstanding total portfolio is $11 billion, composed of 86 investments[17] - The company funded $65 million on a loan with a monthly coupon of SOFR+900bps[17] - The company purchased a $153 million CMBS I/O Strip with a bond equivalent yield of 724%[17] - The company purchased $395 million of Preferred Stock[17] Capitalization Metrics - The debt to equity ratio was 187x as of June 30, 2025[18] - NREF Series B Preferred dividends were covered 187x in the quarter[18] - The weighted average remaining term is 37 years[18] - Outstanding repo financing is $2609 million, equating to 478% advance rate on CMBS B-Piece and IO Strips Portfolio[18]