NexPoint Real Estate Finance (NREF)

• Market cap: $272M
• 1 day: -8.43%
• 5 days: -5.44%
• 1 month: -0.96%
• 3 months: -10.48%
• 6 months: -14.61%
• Year to date: -8.32%
• 1 year: 2.27%
• 5 years: -11.47%
• 10 years: -23.19%
• Sector: Real Estate
• Industry: Mortgage REIT

About: NexPoint Real Estate Finance Inc is a real estate investment trust. The company provides structured financing solutions by investing in mid-sized multifamily, storage and select-service, and extended-stay hospitality properties. Its investment objective is to generate attractive, risk-adjusted returns for stockholders over the long term. The Company is focused on originating, structuring and investing in first-lien mortgage loans, mezzanine loans, preferred equity, convertible notes, multifamily properties, and common equity investments, as well as multi-family and single-family rental ("SFR") commercial mortgage-backed securities securitizations ("CMBS securitizations"), multifamily structured credit risk notes ("MSCR Notes") and mortgage-backed securities.

Employees: 1

Fund manager confidence

Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)

100% more call options, than puts

Call options by funds: $196K | Put options by funds: $98K

0% more funds holding in top 10

Funds holding in top 10: 1 [Q4 2024] → 1 (+0) [Q1 2025]

0% more repeat investments, than reductions

Existing positions increased: 25 | Existing positions reduced: 25

0.78% less ownership

Funds ownership: 67.21% [Q4 2024] → 66.44% (-0.78%) [Q1 2025]

3% less capital invested

Capital invested by funds: $184M [Q4 2024] → $179M (-$4.98M) [Q1 2025]

5% less funds holding

Funds holding: 77 [Q4 2024] → 73 (-4) [Q1 2025]

11% less first-time investments, than exits

New positions opened: 8 | Existing positions closed: 9

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

• Low target: $14.50 0% upside
• Avg. target: $14.50 0% upside
• High target: $14.50 0% upside

1 analyst rating

• positive: 0 0%
• neutral: 1 100%
• negative: 0 0%

Keefe, Bruyette & Woods Jade Rahmani

0% upside $14.50

Market Perform Maintained

2 May 2025