NREF NexPoint Real Estate Finance, Inc. Common Stock
$17.20
Price · Aug 19, 2026
Fundamentals as of Aug 13, 2026
52W Range
$12–$18
80% of range
Analyst Rating
HOLD
8 analysts
Price Target
$17
P/E (TTM)
6.1
ROE
33.5%
Net Profit Margin
261.0%
NREF Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$17.20
Market Cap
$321M
P/E (TTM)
6.1
EPS (TTM)
$2.85
Revenue (TTM)
—
Div Yield
11.0%
ROE
33.5%
Debt/Equity
—
52W Range
$12 – $18
NREF Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
—
EPS
$2.85
2020-12-31
→
2025-12-31
Free Cash Flow
—
Margins
261.0%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
NREF
Peer Median
P/E (TTM)
6.1
6.3
P/S (TTM)
6.8
1.6
P/B
0.8
0.6
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
NREF
Peer Median
Net Profit Margin
261.0%
-7.5%
ROA
2.3%
-0.57%
ROE
33.5%
-3.4%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
NREF
Peer Median
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
NREF
Peer Median
Revenue YoY
67.7%
—
Revenue CAGR 3Y
7.7%
—
Revenue CAGR 5Y
21.7%
—
EPS YoY
179.4%
—
Net Income YoY
242.4%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
NREF
Peer Median
Payout Ratio
28.7%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
11.0%
Payout Ratio
28.7%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| June 15, 2026 | $0.5000 |
| March 13, 2026 | $0.5000 |
| Dec. 15, 2025 | $0.5000 |
| Sept. 15, 2025 | $0.5000 |
| June 13, 2025 | $0.5000 |
| March 14, 2025 | $0.5000 |
| Dec. 13, 2024 | $0.5000 |
| Sept. 13, 2024 | $0.5000 |
| June 14, 2024 | $0.5000 |
| March 14, 2024 | $0.5000 |
| Dec. 14, 2023 | $0.6850 |
| Sept. 14, 2023 | $0.6850 |
| June 14, 2023 | $0.6850 |
| March 14, 2023 | $0.6850 |
| Dec. 14, 2022 | $0.5000 |
| Sept. 14, 2022 | $0.5000 |
| June 14, 2022 | $0.5000 |
| March 14, 2022 | $0.5000 |
| Dec. 14, 2021 | $0.4750 |
| Sept. 14, 2021 | $0.4750 |
NREF Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
SELL
8 analysts
- Strong Buy 0 0.0%
- Buy 0 0.0%
- Hold 5 62.5%
- Sell 1 12.5%
- Strong Sell 2 25.0%
12-Month Price Target
2 analysts · 2026-08-15
Median
$16.75
Now
$17.20
Low
$16.00
High
$17.50
Median target
$16.75
-2.6%
Mean target
$16.75
-2.6%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.00%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.46 | $0.40 | 0.06% |
| March 31, 2026 | $0.43 | $0.38 | 0.05% |
| Dec. 31, 2025 | $0.47 | $0.51 | -0.04% |
| Sept. 30, 2025 | $0.51 | $0.48 | 0.03% |
| June 30, 2025 | $0.43 | $0.47 | -0.04% |
| March 31, 2025 | $0.41 | $0.50 | -0.09% |
| Dec. 31, 2024 | $0.83 | $0.77 | 0.06% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| NREF | $262M | 4.9 | 67.7% | 261.0% | 33.5% | — |
| FBRT | $818M | 15.7 | 20.9% | 30.5% | 5.6% | — |
| BRSP | — | -21.5 | -7.9% | -9.4% | -3.1% | — |
| TRTX | $674M | 15.1 | -4.6% | 41.3% | 5.6% | — |
| RWT | — | — | — | — | — | — |
| KREF | $529M | -7.8 | -25.8% | -41.8% | -3.7% | — |
| RC | $355M | -1.5 | 3.0% | -217.3% | -13.1% | — |
| REFI | $258M | 7.3 | — | 65.0% | 11.7% | — |
| ACRE | $263M | 4.4 | -21.3% | -1.6% | -0.17% | — |
| CMTG | $429M | -0.9 | -24.4% | -260.4% | -29.7% | — |
| MITT | — | — | — | — | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 11
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| SG&A Expense | $13M | $13M | $9M | $7M | $6M | $3M | |
| Operating Expenses | $34M | $37M | $23M | $26M | $14M | $9M | |
| Interest Expense | · | · | $52M | $40M | $30M | $21M | |
| Interest Income | · | · | $68M | $78M | $56M | $39M | |
| Other Non-op | $-28.0K | $748.0K | $2M | $399.0K | $780.0K | $373.0K | |
| Net Income | $123M | $36M | $19M | $14M | $83M | $34M | |
| EPS (Basic) | $4.28 | $1.02 | $0.60 | $0.22 | $6.00 | $2.13 | |
| EPS (Diluted) | $2.85 | $1.02 | $0.60 | $0.22 | $3.93 | $1.74 | |
| Shares (Basic) | 17,673,000 | 17,402,000 | 17,199,000 | 14,686,000 | 6,601,000 | 5,206,000 | |
| Shares (Diluted) | 42,011,000 | 17,402,000 | 17,199,000 | 14,686,000 | 20,366,000 | 18,648,000 | |
| EBITDA | $3M | $6M | $2M | $3M | · | · |
Balance Sheet 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $31M | $4M | $14M | $20M | $26M | $30M | |
| Total Assets | $5.32B | $5.42B | $7.02B | $8.15B | $8.51B | $6.18B | |
| Total Liabilities | $4.49B | $4.84B | $6.57B | $7.61B | $8.01B | $5.77B | |
| Long-term Debt | $771M | $799M | $1.27B | $1.35B | $1.28B | $1.04B | |
| Common Stock | · | · | · | · | $92.0K | $50.0K | |
| Retained Earnings | $-17M | $-55M | $-36M | $4M | $28M | $3M | |
| Treasury Stock | · | $0 | $4M | $4M | $4M | $5M | |
| Stockholders' Equity | $388M | $336M | $347M | $449M | $245M | $128M | |
| Liabilities + Equity | $5.32B | $5.42B | $7.02B | $8.15B | $8.51B | $6.18B | |
| Shares Outstanding | 18,574,101 | 17,461,129 | 17,231,913 | 17,079,943 | 9,163,934 | 5,022,578 |
Cash Flow 11
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| D&A | $3M | $6M | $2M | $3M | $0 | $0 | |
| Stock-based Comp | $6M | $6M | $4M | $3M | $2M | $548.0K | |
| Other Non-cash | $-109M | $-18M | $6M | $45M | · | · | |
| Operating Cash Flow | $23M | $29M | $32M | $66M | $49M | $33M | |
| Investing Cash Flow | $322M | $957M | $741M | $951M | $518M | $-68M | |
| Stock Issued | $11M | $0 | $0 | $156M | $32M | $0 | |
| Stock Repurchased | · | · | · | $0 | $0 | $5M | |
| Net Stock Activity | $11M | $0 | $0 | $156M | $32M | $-5M | |
| Dividends Paid | $35M | $35M | $48M | $30M | $14M | $7M | |
| Financing Cash Flow | $-317M | $-995M | $-777M | $-1.03B | $-567M | $69M | |
| Net Change in Cash | $27M | $-10M | $-4M | $-13M | $-239.0K | $33M |
Profitability 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Net Margin | 261.0% | 127.8% | 111.6% | 37.7% | 320.4% | 193.4% | |
| EBITDA Margin | 6.2% | 20.0% | 14.7% | 7.7% | · | · | |
| ROA | 2.3% | 0.58% | 0.25% | 0.17% | 1.1% | 1.1% | |
| ROE | 33.5% | 10.7% | 5.4% | 3.3% | 34.6% | 27.1% |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | 67.7% | 67.5% | -55.5% | 44.8% | 47.5% | · | |
| Revenue CAGR 3Y | 7.7% | 2.6% | -1.7% | · | · | · | |
| Revenue CAGR 5Y | 21.7% | · | · | · | · | · | |
| EPS YoY | 179.4% | 70.0% | 172.7% | -94.4% | 125.9% | · | |
| EPS CAGR 3Y | 134.9% | -36.2% | -29.9% | · | · | · | |
| EPS CAGR 5Y | 10.4% | · | · | · | · | · | |
| Net Income YoY | 242.4% | 91.9% | 31.8% | -83.0% | 144.3% | · | |
| Net Income CAGR 3Y | 105.4% | -24.5% | -18.1% | · | · | · | |
| Net Income CAGR 5Y | 29.2% | · | · | · | · | · | |
| Dividend CAGR 5Y | 36.8% | · | · | · | · | · |
Valuation (TTM) 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $47M | $28M | $17M | $38M | $26M | $18M | |
| Net Income TTM | $123M | $36M | $19M | $14M | $83M | $34M | |
| Market Cap | $262M | $274M | $271M | $271M | $176M | $83M | |
| P/E | 4.9 | 15.4 | 26.2 | 72.2 | 4.9 | 9.5 | |
| P/S | 5.5 | 9.7 | 16.2 | 7.2 | 6.8 | 4.7 | |
| P/B | 0.7 | 0.8 | 0.8 | 0.6 | 0.7 | 0.6 | |
| P / Tangible Book | 0.7 | 0.8 | 0.8 | 0.6 | 0.7 | 0.6 | |
| P / Cash Flow | 11.4 | 9.4 | 8.6 | 4.1 | 3.6 | 2.5 | |
| Dividend Yield | 13.5% | 12.7% | 17.7% | 10.9% | 8.0% | 8.9% | |
| Earnings Yield | 20.2% | 6.5% | 3.8% | 1.4% | 20.4% | 10.5% | |
| Payout Ratio | 28.7% | 96.9% | 255.9% | 208.6% | 17.0% | 21.6% | |
| Annual Payout | $35M | $35M | $48M | $30M | $14M | $7M |
Income Statement 11
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SG&A Expense | $3M | $3M | $3M | $3M | $4M | $3M | $3M | $2M | $3M | $4M | $2M | $3M | $2M | $2M | $2M | $2M | |
| Operating Expenses | $10M | $10M | $8M | $8M | $9M | $8M | $9M | $8M | $9M | $11M | $6M | $6M | $5M | $6M | $9M | $6M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $11M | · | $13M | $13M | $12M | · | $11M | |
| Interest Income | · | · | · | · | · | · | · | · | · | · | · | $18M | $17M | $16M | · | $15M | |
| Other Non-op | $22.0K | $338.0K | $112.0K | $-122.0K | $52.0K | $-70.0K | $20.0K | $240.0K | $414.0K | $74.0K | $1M | $38.0K | $36.0K | $317.0K | $46.0K | $115.0K | |
| Net Income | $17M | $23M | $24M | $51M | $22M | $26M | $15M | $23M | $12M | $-15M | $18M | $-17M | $8M | $9M | $-2M | $-9M | |
| EPS (Basic) | $0.29 | $0.54 | $0.67 | $1.98 | $0.69 | $0.94 | $0.50 | $0.92 | $0.43 | $-0.83 | $0.79 | $-0.90 | $0.33 | $0.38 | $-0.32 | $-0.62 | |
| EPS (Diluted) | $0.29 | $0.42 | $0.47 | $1.14 | $0.54 | $0.70 | $0.71 | $0.74 | $0.40 | $-0.83 | $0.80 | $-0.90 | $0.33 | $0.37 | $-0.20 | $-0.62 | |
| Shares (Basic) | 18,844,000 | 18,605,000 | -35,277,000 | 17,722,000 | 17,712,000 | 17,516,000 | -34,745,000 | 17,461,000 | 17,422,000 | 17,264,000 | -34,364,000 | 17,232,000 | 17,213,000 | 17,118,000 | -28,879,000 | 14,962,000 | |
| Shares (Diluted) | 53,978,000 | 51,456,000 | -77,352,000 | 43,854,000 | 39,460,000 | 36,049,000 | -65,716,000 | 30,468,000 | 27,788,000 | 24,862,000 | -51,645,000 | 23,086,000 | 23,080,000 | 22,678,000 | -52,516,000 | 22,678,000 | |
| EBITDA | · | $1M | · | · | · | $1M | · | · | · | $2M | · | · | · | $476.0K | · | · |
Balance Sheet 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $6M | $23M | $31M | $18M | $9M | $19M | $4M | $35M | $4M | $13M | · | $11M | $20M | $39M | · | $22M | |
| Total Assets | $5.37B | $5.23B | $5.32B | $5.28B | $5.40B | $5.40B | $5.42B | $5.69B | $6.57B | $7.09B | · | $6.89B | $7.60B | $8.04B | · | $8.28B | |
| Total Liabilities | $4.51B | $4.39B | $4.49B | $4.50B | $4.72B | $4.78B | $4.84B | $5.15B | $6.09B | $6.64B | · | $6.45B | $7.14B | $7.57B | · | $7.78B | |
| Long-term Debt | · | · | $771M | $721M | $816M | $832M | · | $816M | $861M | $843M | · | $1.22B | $1.25B | $1.28B | · | $1.27B | |
| Common Stock | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $150.0K | |
| Retained Earnings | $-21M | $-16M | $-17M | $-19M | $-45M | $-48M | $-55M | $-54M | $-61M | $-59M | · | $-37M | $-9M | $-3M | · | $15M | |
| Treasury Stock | · | · | · | · | · | · | · | $0 | $0 | $4M | · | $4M | $4M | $4M | · | $4M | |
| Stockholders' Equity | $380M | $389M | $388M | $375M | $348M | $344M | $336M | $336M | $327M | $327M | $347M | $345M | $372M | $377M | $449M | $352M | |
| Liabilities + Equity | $5.37B | $5.23B | $5.32B | $5.28B | $5.40B | $5.40B | $5.42B | $5.69B | $6.57B | $7.09B | · | $6.89B | $7.60B | $8.04B | · | $8.28B | |
| Shares Outstanding | 18,848,029 | 18,686,983 | 18,574,101 | 17,721,828 | 17,721,828 | 17,643,526 | 17,461,129 | 17,461,129 | 17,461,129 | 17,306,257 | 17,231,913 | 17,231,913 | 17,231,913 | 17,184,231 | 17,079,943 | 14,979,759 |
Cash Flow 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $2M | $1M | $631.0K | $620.0K | $614.0K | $1M | $1M | $1M | $1M | $2M | $1M | $476.0K | $478.0K | $476.0K | $460.0K | $545.0K | |
| Stock-based Comp | $2M | $1M | $2M | $2M | $2M | $1M | $1M | $1M | $1M | $2M | $1M | $1M | $1M | $847.0K | $872.0K | $870.0K | |
| Other Non-cash | · | $-16M | · | · | · | $-12M | · | · | · | $28M | · | · | · | $4M | · | · | |
| Operating Cash Flow | $-6M | $9M | $-5M | $8M | $3M | $16M | $4M | $15M | $-8M | $18M | $3M | $6M | $8M | $15M | $7M | $7M | |
| Investing Cash Flow | $24M | $85M | $42M | $190M | $18M | $71M | $221M | $139M | $52M | $545M | $102M | $208M | $365M | $67M | $237M | $4M | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | $43M | $0 | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | · | · | |
| Dividends Paid | $9M | $12M | $9M | $8M | $9M | $9M | $10M | $8M | $9M | $9M | $13M | $12M | $12M | $12M | $7M | $7M | |
| Financing Cash Flow | $95M | $-103M | $-25M | $-190M | $-31M | $-71M | $-257M | $-122M | $-56M | $-560M | $-101M | $-223M | $-391M | $-62M | $-255M | $-34M | |
| Net Change in Cash | $113M | $-9M | $13M | $8M | $-10M | $16M | $-32M | $31M | $-12M | $3M | $4M | $-9M | $-19M | $20M | $-11M | $-23M |
Profitability 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 104.6% | 147.9% | · | 407.0% | 184.5% | 225.6% | · | 186.4% | 179.7% | 114.3% | · | -353.9% | 201.6% | 237.5% | · | -151.3% | |
| EBITDA Margin | · | 9.3% | · | · | · | 9.4% | · | · | · | -18.1% | · | · | · | 12.0% | · | · | |
| ROA | 0.32% | 0.43% | · | 0.93% | 0.37% | 0.42% | · | 0.37% | 0.17% | -0.19% | · | -0.22% | 0.11% | 0.12% | · | -0.10% | |
| ROE | 4.8% | 6.2% | · | 14.3% | 6.6% | 7.7% | · | 6.9% | 3.5% | -4.2% | · | -4.9% | 2.3% | 2.5% | · | -2.9% |
Efficiency 1
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | -0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 |
Valuation (TTM) 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $56M | $51M | · | $49M | $43M | $18M | · | $11M | $3M | $157.0K | · | $17M | $20M | $38M | · | $40M | |
| Net Income TTM | $113M | $122M | · | $122M | $84M | $47M | · | $4M | $-11M | $-14M | · | $-9M | $16M | $26M | · | $41M | |
| Market Cap | $292M | $252M | · | $251M | $244M | $270M | · | $273M | $240M | $249M | · | $282M | $269M | $269M | · | $224M | |
| P/E | 6.5 | 4.8 | · | 4.5 | 5.8 | 15.1 | · | -26.5 | -13.7 | -13.9 | · | -20.0 | 45.9 | 19.8 | · | 9.4 | |
| P/S | 5.2 | 4.9 | · | 5.2 | 5.7 | 15.0 | · | 24.2 | 81.3 | 1582.9 | · | 16.4 | 13.7 | 7.1 | · | 5.6 | |
| P/B | 0.8 | 0.6 | · | 0.7 | 0.7 | 0.8 | · | 0.8 | 0.7 | 0.8 | · | 0.8 | 0.7 | 0.7 | · | 0.6 | |
| P / Tangible Book | 0.8 | 0.6 | · | 0.7 | 0.7 | 0.8 | · | 0.8 | 0.7 | 0.8 | · | 0.8 | 0.7 | 0.7 | · | 0.6 | |
| P / Cash Flow | · | 26.8 | · | · | · | 16.8 | · | · | · | 14.0 | · | · | · | 18.0 | · | · | |
| Earnings Yield | 15.4% | 20.8% | · | 22.0% | 17.3% | 6.6% | · | -3.8% | -7.3% | -7.2% | · | -5.0% | 2.2% | 5.0% | · | 10.6% | |
| Payout Ratio | · | 54.4% | · | · | · | 33.8% | · | · | · | -59.1% | · | · | · | 125.5% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Net Income | $123M | $36M | $19M | $14M | $83M |
| Diluted EPS | $2.85 | $1.02 | $0.60 | $0.22 | $3.93 |
Latest News Recent headlines mentioning this company
My Metrics Your personal watchlist — selected rows from Full Fundamentals
📊
Pick the metrics that matter to you — click the ➕ next to any row in Full Fundamentals above.
Your selection is saved and follows you across all tickers.
Institutional owners (13F) 88 filers · $128.3M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 16 (+5 vs prior Q) | 14 (+7 vs prior Q) | 30 (+1 vs prior Q) | 18 (-8 vs prior Q) | +6.0M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| NEXPOINT ASSET MANAGEMENT, L.P. | $88,517,090 | 5,710,780 | 69.01% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $5,368,007 | 346,323 | 4.18% | Shares |
| INDEPENDENT FINANCIAL GROUP, LLC | $4,355,655 | 281,010 | 3.40% | Shares |
| RAYMOND JAMES FINANCIAL INC | $3,803,431 | 245,383 | 2.97% | Shares |
| STATE STREET CORP | $2,687,111 | 173,362 | 2.09% | Shares |
| MORGAN STANLEY | $2,546,960 | 164,320 | 1.99% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $2,435,540 | 157,071 | 1.90% | Shares |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC | $2,407,584 | 155,328 | 1.88% | Shares |
| Copley Financial Group, Inc. | $1,714,094 | 110,587 | 1.34% | Shares |
| RITHOLTZ WEALTH MANAGEMENT | $1,621,576 | 104,618 | 1.26% | Shares |
| 1776 Wealth LLC | $1,122,185 | 72,399 | 0.87% | Shares |
| GOLDMAN SACHS GROUP INC | $799,568 | 51,585 | 0.62% | Shares |
| LPL Financial LLC | $780,150 | 50,332 | 0.61% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $749,177 | 48,334 | 0.58% | Shares |
| Cetera Investment Advisers | $646,699 | 41,722 | 0.50% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $638,197 | 41,174 | 0.50% | Shares |
| VANGUARD GROUP INC | $577,393 | 41,008 | 0.45% | Shares |
| Morey & Quinn Wealth Partners, LLC | $566,712 | 36,562 | 0.44% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $517,498 | 33,387 | 0.40% | Shares |
| HighTower Advisors, LLC | $502,402 | 32,413 | 0.39% | Shares |
| Russell Investments Group, Ltd. | $436,433 | 28,157 | 0.34% | Shares |
| Oak Grove Capital LLC | $418,500 | 27,000 | 0.33% | Shares |
| Concorde Asset Management, LLC | $402,225 | 25,950 | 0.31% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $366,110 | 23,620 | 0.29% | Shares |
| BANK OF AMERICA CORP /DE/ | $363,398 | 23,445 | 0.28% | Shares |
| Navis Wealth Advisors, LLC | $322,688 | 20,819 | 0.25% | Shares |
| Concorde Asset Management, LLC | $315,872 | 23,450 | 0.25% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $285,200 | 18,400 | 0.22% | Shares |
| OPPENHEIMER & CO INC | $269,034 | 17,357 | 0.21% | Shares |
| OSAIC HOLDINGS, INC. | $230,640 | 14,880 | 0.18% | Shares |
| CITADEL ADVISORS LLC | $213,900 | 13,800 | 0.17% | Call option |
| ALLIANCEBERNSTEIN L.P. | $207,977 | 15,440 | 0.16% | Shares |
| Callan Family Office, LLC | $189,379 | 12,218 | 0.15% | Shares |
| BARCLAYS PLC | $181,506 | 11,710 | 0.14% | Shares |
| Atria Wealth Solutions, Inc. | $160,984 | 11,674 | 0.13% | Shares |
| AMERIPRISE FINANCIAL INC | $157,186 | 10,141 | 0.12% | Shares |
| RHUMBLINE ADVISERS | $156,127 | 10,073 | 0.12% | Shares |
| BlackRock, Inc. | $146,615 | 9,459 | 0.11% | Shares |
| Daytona Street Capital LLC | $112,420 | 7,000 | 0.09% | Shares |
| DEUTSCHE BANK AG\ | $108,516 | 7,001 | 0.08% | Shares |
| Bank of New York Mellon Corp | $99,045 | 6,390 | 0.08% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $90,210 | 5,820 | 0.07% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $84,754 | 5,468 | 0.07% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $75,361 | 4,862 | 0.06% | Shares |
| CITIGROUP INC | $51,677 | 3,334 | 0.04% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $51,228 | 3,305 | 0.04% | Shares |
| Vanguard Global Advisers, LLC | $51,011 | 3,291 | 0.04% | Shares |
| Invesco Ltd. | $44,532 | 2,873 | 0.03% | Shares |
| UBS Group AG | $42,191 | 2,722 | 0.03% | Shares |
| Police & Firemen's Retirement System of New Jersey | $28,613 | 1,846 | 0.02% | Shares |
| STRS OHIO | $26,350 | 1,700 | 0.02% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $25,391 | 1,885 | 0.02% | Shares |
| Legacy Investment Solutions, LLC | $24,464 | 1,774 | 0.02% | Shares |
| Nuveen Asset Management, LLC | $23,519 | 1,499 | 0.02% | Shares |
| Nuveen, LLC | $23,235 | 1,499 | 0.02% | Shares |
| NORTHERN TRUST CORP | $18,476 | 1,192 | 0.01% | Shares |
| NISA INVESTMENT ADVISORS, LLC | $16,074 | 1,037 | 0.01% | Shares |
| Tower Research Capital LLC (TRC) | $12,694 | 819 | 0.01% | Shares |
| Legal & General Group Plc | $11,114 | 717 | 0.01% | Shares |
| Ameritas Investment Partners, Inc. | $9,114 | 588 | 0.01% | Shares |
| OLIVER LAGORE VANVALIN INVESTMENT GROUP | $7,645 | 500 | 0.01% | Shares |
| FMR LLC | $7,254 | 468 | 0.01% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $5,477 | 353 | 0.00% | Shares |
| ROYAL BANK OF CANADA | $5,000 | 319 | 0.00% | Shares |
| CWM, LLC | $4,782 | 355 | 0.00% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $4,614 | 300 | 0.00% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $4,539 | 337 | 0.00% | Shares |
| GAMMA Investing LLC | $3,751 | 242 | 0.00% | Shares |
| Arax Advisory Partners | $3,069 | 198 | 0.00% | Shares |
| JPMORGAN CHASE & CO | $3,007 | 193 | 0.00% | Shares |
| Sterling Capital Management LLC | $1,938 | 125 | 0.00% | Shares |
| Penserra Capital Management LLC | $1,251 | 80,732 | 0.00% | Shares |
| Integrated Wealth Concepts LLC | $1,227 | 79 | 0.00% | Shares |
| MassMutual Private Wealth & Trust, FSB | $992 | 64 | 0.00% | Shares |
| WEDBUSH SECURITIES INC | $932 | 60,117 | 0.00% | Shares |
| WELLS FARGO & COMPANY/MN | $620 | 40 | 0.00% | Shares |
| PNC Financial Services Group, Inc. | $620 | 40 | 0.00% | Shares |
| Essential Partners LLC | $264 | 17 | 0.00% | Shares |
| Allworth Financial LP | $140 | 9 | 0.00% | Shares |
| IFP Advisors, Inc | $108 | 7 | 0.00% | Shares |
| EverSource Wealth Advisors, LLC | $93 | 6 | 0.00% | Shares |
| ROTHSCHILD INVESTMENT LLC | $62 | 4 | 0.00% | Shares |
| Farther Finance Advisors, LLC | $62 | 4 | 0.00% | Shares |
| True Wealth Design, LLC | $62 | 4 | 0.00% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $16 | 1 | 0.00% | Shares |
| Sunbelt Securities, Inc. | $13 | 1 | 0.00% | Shares |
| HARBOR CAPITAL ADVISORS, INC. | $4 | 228 | 0.00% | Shares |
| Covestor Ltd | $2 | 137 | 0.00% | Shares |
Company insiders 9 insiders · 5 officers · 5 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Brian Mitts | Chief Financial Officer, Executive VP-Finance, Secretary and Treasurer | Sept. 10, 2020 I | 5,399 | 0 | 0 | $0 |
| James D Dondero | President | Sept. 30, 2020 J | 148,972 | 0 | 0 | $0 |
| Matthew Goetz | Senior VP-Investments and Asset Management | Sept. 17, 2020 P | 36,552 | 0 | 0 | $0 |
| Dennis Charles Sauter Jr | General Counsel | June 24, 2020 A | — | 0 | 0 | $0 |
| Matt Mcgraner | Executive VP and Chief Investment Officer | June 24, 2020 A | 29,315 | 0 | 0 | $0 |
| Catherine D. Wood | Director | Nov. 24, 2020 P | 3,232 | 0 | 0 | $0 |
| Edward N. Constantino | Director | May 8, 2020 A | 15,750 | 0 | 0 | $0 |
| Arthur B Laffer | Director | May 8, 2020 A | 39,700 | 0 | 0 | $0 |
| Scott F Kavanaugh | — | May 8, 2020 A | — | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 2 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| DONDERO JAMES D, NexPoint Advisors, L.P., NEXPOINT ASSET MANAGEMENT, L.P., HIGHLAND OPPORTUNITIES & INCOME FUND, NEXPOINT DIVERSIFIED REAL ESTATE TRUST, DONDERO NANCY MARIE | Jan. 2, 2026 | 54.00% | Amendment | — | SEC |
| James D. Dondero, NexPoint Advisors, L.P., NexPoint Diversified Real Estate Trust, NexPoint Real Estate Opportunities, LLC, NexPoint Asset Management, L.P., Highland Income Fund, Nancy Marie Dondero, Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power James D. Dondero (1) 84,103 8,739,833.456 84,103 8,739,833.456 NexPoint Advisors, L.P. (2) 0 2,863,485 0 2,863,485 NexPoint Diversified Real Estate Trust (3) 0 2,100,000 ×5 filings | Dec. 28, 2022 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 20 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| DVDN · ETF Opportunities Trust | 4.54% | 11,079 NS | April 30, 2026 | N-PORT |
| RIET · ETF Series Solutions | 1.25% | 83,913 NS | May 31, 2026 | N-PORT |
| REM · iShares Trust | 0.29% | 88,488 SH | Aug. 8, 2026 | Daily |
| EBIT · Harbor ETF Trust | 0.03% | 228 NS | April 30, 2026 | N-PORT |
| IWC · iShares Trust | 0.03% | 24,042 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.01% | 9,347 NS | May 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.01% | 5,998 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.01% | 75,174 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 233,994 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.00% | 6,981 | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.00% | 2,929 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.00% | 316 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 247 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 249 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 273 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 6 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 77,231 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 260,100 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.00% | 41,602 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 734 SH | Aug. 8, 2026 | Daily |