Nexpoint Real Estate Finance, Inc. · NYSE:NREF
Nexpoint Real Estate Finance — Q2 2025 Earnings Presentation
20 slides from Nexpoint Real Estate Finance's earnings presentation, Jul 31, 2025
Slide 1: 2Q 2025 Financial Supplement
28 APRIL 2022 NYSE:NR EF NYSE:NREF 2Q 2025 Financial 1Q 2022 FINANCIAL SUPPLEMENT Supplement July 31, 2025 CONTACT NEXPOINT REAL ESTATE FINANCE INVESTOR RELATIONS (NYSE:NREF) Kristen Griffith 300 Crescent Court, Suite 700 (e) kgriffith@nexpoint.com Dallas, Texas 75201 (w) nref.nexpoint.com
Slide 2: Cautionary Statements
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-looking statements can often be id
Slide 3: Company Overview
NexPoint Real Estate Finance Company Overview NexPoint Real Estate Finance, Inc. (“NREF” or the “Company”) is a publicly traded mortgage REIT, with its shares of common stock and 8.50% Series A Cumulative Redeemable Preferred Stock listed on the New York Stock Exchange. The Company concentrates on i
Slide 4: 2Q 2025 Highlights
2Q 2025 Highlights $396.1MM 2Q 2025 Dividend $22.3MM $10.6MM B O O K V A L U E P A I D O N J U N E 3 0 , N E T I N C O M E 2 Q 2 0 2 5 C A S H $17.40 per common share, including 2 0 2 5 I N 2 Q 2 0 2 5 A V A I L A B L E F O R FINANCIAL Paid a 2Q 2025 dividend of $0.50 per Net income attributable to
Slide 5: Earnings and Book Value
2Q 2025 Earnings And Book Value Earnings and Book Value (7.4)% 0.7% 1.5% 1.0% (6.9)% 2.7% 0.1% • Net interest income of $12.1MM, an increase of $0.6MM compared to 1Q 2025 (1.1)% • Net income of $22.3MM, with net income attributable to common stockholders of $12.3MM, or $0.54 per diluted common share
Slide 6: Earnings per Share (EPS), EAD and CAD
Earnings per Share (EPS)1, EAD2 and CAD2 130.0% 10.4% EPS, EAD, CAD 10.6% 247.8% 62.8% AND GUIDANCE (22.9)% 148.2% (53.3)% (50.2)% 5.0% (3.2)% EPS/EAD/CAD (33.3)% • Earnings per diluted share for 2Q 2025 is $0.54, compared to earnings per diluted share of $0.70 reported in 1Q 2025 • 2Q 2025 EAD per
Slide 7: Dividend and Coverage
Dividend and Coverage Dividend and EPS/EAD/CAD Coverage 2Q 2025 DIVIDEND: • 2Q dividend of $0.50 per common share was paid on June 30, 2025 • 2Q 2025 EPS dividend coverage is 1.08x • 2Q 2025 EAD dividend coverage is 0.86x • 2Q 2025 CAD dividend coverage is 0.92x 3Q 2025 DIVIDEND: • 3Q 2025 dividend
Slide 8: Portfolio Commentary
Portfolio Commentary Defensive Portfolio Characteristics The current portfolio consists of senior loans, CMBS B-Pieces, CMBS I/O Strips, mezzanine debt, preferred equity, common stock 3.7 investments, multifamily properties, promissory notes, preferred stock investments, revolving credit facilities
Slide 9: Portfolio Commentary: Geographic and Asset Type Exposure
Portfolio Commentary1 Geographic and Asset Type Exposure1 MA 27% $1.1B CURRENT PRINCIPAL1 MD 4% CA 6% GA TX 6% 15% FL LESS THAN 4.0% OF TOTAL OUTSTANDING PRINCIPAL BALANCE 4% 58.5% WEIGHTED AVG LTV1 1. AS OF JUNE 30, 2025, AND EXCLUDING COMMON STOCK INVESTMENTS AND THE HUDSON MONTFORD AND ALEXANDER
Slide 10: Portfolio
2Q 2025 PORTFOLIO 10
Slide 11: 2Q 2025 Portfolio
2Q 2025 Portfolio $s IN 0,000s EXCEPT PER SHARE DATA # Investment1 Location Property Type Investment Date Current Principal Net Equity2 Coupon3 Remaining Term4 Loan to Value DSCR Senior Loans 1 Senior Loan Various Single-family 2/11/2020 $ 7,935 $ 1,124 5.4 % 2.6 53.8 % 2 Senior Loan Various Single-
Slide 12: 2Q 2025 Portfolio
2Q 2025 Portfolio $s IN 0,000s EXCEPT PER SHARE DATA # Investment1 Location Property Type Investment Date Current Principal Net Equity2 Coupon3 Remaining Term4 Loan to Value DSCR CMBS I/O Strips 1 CMBS I/O Strip Various Multifamily 5/18/2020 $ 17,590 (6) $ 299 2.0 % 4.6 69.9 % 2 CMBS I/O Strip Vario
Slide 13: 2Q 2025 Portfolio
2Q 2025 Portfolio $s IN 0,000s EXCEPT PER SHARE DATA # Investment1 Location Property Type Investment Date Current Principal Net Equity2 Coupon3 Remaining Term4 Loan to Value DSCR 12 Mezzanine Cockeysville, MD Multifamily 10/20/2020 $ 9,610 $ 3,937 7.4 % 6.0 84.3 % 13 Mezzanine Laurel, MD Multifamily
Slide 14: 2Q 2025 Portfolio
2Q 2025 Portfolio $s IN 0,000s EXCEPT PER SHARE DATA # Investment1 Location Property Type Investment Date Current Principal Net Equity2 Coupon3 Remaining Term4 Loan to Value DSCR 16 Preferred Equity Knoxville, TN Marina 6/28/2024 $ 7,500 $ 7,471 13.0 % 3.3 68.8 % 17 Preferred Equity Houston, TX Mult
Slide 15: Portfolio Footnotes
2Q 2025 Portfolio 1. Our total portfolio represents the current principal amount of the consolidated SFR Loans, CMBS I/O Strips, mezzanine loans, preferred equity, common stock investments, multifamily property, promissory notes, revolving credit facilities and stock warrants as well as the net equi
Slide 16: Financials
FINANCIALS 16
Slide 17: Financials
Financials $s IN 0,000s EXCEPT PER SHARE DATA OR AS OTHERWISE INDICATED Income Statement Balance Sheet For the three months ended June 30, 2025 March 31, 2025 June 30, 2025 December 31, 2024 Interest income $ 22,838 $ 22,043 Cash and cash equivalents $ 9,056 $ 3,877 Interest expense (10,769) (10,534
Slide 18: Reconciliations
Reconciliations $s IN 0,000s EXCEPT PER SHARE DATA OR AS OTHERWISE INDICATED Reconciliation of 3Q 2025 Net Income to EAD Reconciliation of 3Q 2025 EAD to CAD Low Mid High Low Mid High For the three months ended September. 30, 2025 September. 30, 2025 September. 30, 2025 For the three months ended Se
Slide 19: Reconciliations
Reconciliations $s IN 0,000s EXCEPT PER SHARE DATA OR AS OTHERWISE INDICATED Reconciliation of Net Income (Loss) to Earnings Available for Distribution 2Q 2025 1Q 2025 4Q 2024 3Q 2024 2Q 2024 1Q 2024 4Q 2023 3Q 2023 Net income (loss) attributable to common stockholders $ 12,286 $ 16,518 $ 8,376 $ 16
Slide 20: Reconciliations
Reconciliations $s IN 0,000s EXCEPT PER SHARE DATA OR AS OTHERWISE INDICATED Reconciliation of Earnings Available for Distribution to CAD 2Q 2025 1Q 2025 4Q 2024 3Q 2024 2Q 2024 1Q 2024 4Q 2023 3Q 2023 Earnings Available for Distribution $ 10,006 $ 9,674 $ 19,531 $ 17,614 $ 15,959 $ (11,451) $ 10,10
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