NexPoint Real Estate Finance NREF

REIT - Specialty, Real Estate

$15.61

−1.26%

Market cap: $294.2M
PE: 7.5×; 5y median 7.4×
Forward PE: n/m; not a meaningful number
Price to FFO: 6.4×; from its filings
Price to sales: n/m; not a meaningful number
EV/EBIT: 99.3×
Revenue, 12 months: n/m; not a meaningful number
Net margin: n/m; not a meaningful number

NexPoint Real Estate Finance trades at 6.4× its funds from operations, the earnings measure REITs are valued on.

Charts

Financials

Income statement for NREF, by quarter
Income statement	Q3 FY23	Q4 FY23	Q1 FY24	Q2 FY24	Q3 FY24	Q4 FY24	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
SG&A	$2.5M+51%	$2.2M+11%	$4.2M+95%	$3.2M+34%	$2.2M−14%	$3.3M+53%	$2.5M−40%	$3.8M+18%	$3.4M+56%	$3M−9%	$3.3M+30%	$2.8M−25%
Interest expense	$13.2M+24%	$13.1M+12%	$11.2M−8%	$11.5M−12%	$11M−16%	$10.6M−19%	$10.5M−6%	$10.8M−6%	$10.4M−6%	$11.1M+5%	$9.2M−13%	$8.9M−17%
Net income	−$17.1M+82%	$17.9M	−$14.6M	$12.1M+43%	$23.3M	$15.2M−16%	$26M	$22.3M+84%	$50.9M+118%	$24M+59%	$22.6M−13%	$17.3M−22%
	−$0.90+45%	n/a	−$0.83	$0.40+21%	$0.74	n/a	$0.70	$0.54+35%	$1.14+54%	$0.24	$0.42−40%	$0.29−46%
	23.1M+2%	n/a	24.9M+10%	27.8M+20%	30.5M+32%	n/a	36M+45%	39.5M+42%	43.9M+44%	49.1M	51.5M+43%	54M+37%

EPS, diluted: Q4 FY21 and Q4 FY25: quarter's net income to common over its shares, to the cent.

Diluted shares: Q4 FY21 and Q4 FY25: share-days: the 12-month average less the 9-month, weighted by days.

From each company's 10-Q and 10-K filings, the newest version of each figure. Quarters are as filed (a fourth quarter is the year less its first nine months), fiscal years as the 10-K prints them, restated where a later 10-K restated them, and balance sheet lines as of the period's end. A quarter whose 10-Q isn't filed yet is from the company's results release. Growth is on the same period a year earlier. A dash is a period with no figure for the line: the filing doesn't print it, or it hasn't been read yet.

Peers

Companies in REIT - Specialty nearest NexPoint Real Estate Finance's size, closest first.

Company	Market cap	PE	Its 10y median PE	P/S	Revenue growth	Net margin
NREFNexPoint Real Estate Finance	$294.2M	7.5×	7.4×	n/m	n/m	n/m
PINEAlpine Income Property Trust	$289.9M	35.1×	76.6×	3.8×	+32%	16.5%
REFIChicago Atlantic Real Estate Finance	$240.1M	6.8×	7.7×	n/m	n/m	n/m
CHCTCommunity Healthcare Trust	$372.5M	19.4×	95.0×	3.0×	+6%	16.8%
XRNChiron Real Estate	$397.1M	8.1×	9.7×	2.6×	+8%	37.8%
TCITranscontinental Realty Investors	$425.1M	51.5×	44.7×	8.5×	+5%	16.1%
FPIFarmland Partners	$447.2M	20.5×	42.2×	8.7×	−6%	49.8%
TRTXTPG RE Finance Trust	$482.1M	11.6×	11.9×	3.3×	−3%	40.2%
STRWStrawberry Fields REIT	$179.4M	19.8×	21.1×	1.1×	+18%	5.3%
OLPOne Liberty Properties	$487.8M	14.2×	17.6×	n/m	n/m	n/m
MITTTPG Mortgage Investment Trust	$173M	7.4×	8.5×	n/m	n/m	n/m
Peer median	$384.8M	16.8×	19.3×	3.3×	+6%	16.8%