NexPoint Real Estate Finance(NREF) - 2025 Q3 - Earnings Call Presentation

Financial Performance - Net income for 3Q 2025 was $509 million, with net income attributable to common stockholders of $350 million, or $114 per diluted common share[16, 25] - Earnings Available for Distribution (EAD) for 3Q 2025 was $116 million, or $051 per diluted common share[25] - Cash Available for Distribution (CAD) for 3Q 2025 was $121 million, or $053 per diluted common share[16, 30] - Book value per diluted common share increased by 82% to $1883[25] Portfolio Activity - The company's outstanding total portfolio is $11 billion, composed of 88 investments[17] - $65 million was funded on a loan with a monthly coupon of SOFR+900bps[17] - A multifamily property was sold for $600 million, resulting in a gain of $37 million[17] - $425 million of Preferred Stock was purchased[17] Capitalization and Dividends - The debt to equity ratio was 093x as of September 30, 2025[18] - Series B preferred coverage was 488x for net income and 169x for CAD[18] - A 3Q 2025 dividend of $050 per common share was paid on September 30, 2025[16, 43] - The implied dividend yield is 150% based on the 3Q dividend and share price as of October 29, 2025[14] Portfolio Composition - 874% of the portfolio is stabilized[47] - The weighted average Loan-to-Value (LTV) is 549%[47, 51]