NREF NexPoint Real Estate Finance, Inc. Common Stock
NYSE · Real Estate · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 13, 2026
$15.81
· of 52w range
· above low
· to high
$12.3652w low
$18.4352w high
Market Cap (MRQ)
$298M
P/E
5.6
EPS
$2.85
your badges
52W Range
$12–$18
Analyst Rating
HOLD
Price Target
$17
P/E
5.6
ROE
33.5%
Net Profit Margin
261.0%
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NREF Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$15.81
Market Cap (MRQ)
$298M
P/E
5.6
EPS
$2.85
Div Yield
12.0%
ROE
33.5%
52W Range
$12–$18
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10-Year Performance Revenue, net income, margins and EPS trends
EPS$2.852020-12-31 → 2025-12-31
Net margin261.0%2020-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | NREF | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | 5.65Y avg ≈24.7 | ≈24.7 | 6.7 | Fair value | |
| P/S | 6.35Y avg ≈9.1 | ≈9.1 | 4.3 | Overvalued | |
| P/B (MRQ) | 0.85Y avg ≈0.7 | ≈0.7 | 0.5 | Overvalued | |
| Price / Cash Flow | 12.95Y avg ≈7.4 | ≈7.4 | 7.5 | Overvalued | |
| Price / Tangible Book | 0.85Y avg ≈0.7 | ≈0.7 | · | · | |
| PEG Ratio | ≈0.5 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | NREF | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| EBITDA Margin | 6.2%5Y avg ≈12.1% | ≈12.1% | 4.6% | Top tier | |
| Net Profit Margin | 261.0%5Y avg ≈171.7% | ≈171.7% | 23.8% | Top tier | |
| ROA | 2.3%5Y avg ≈0.89% | ≈0.89% | -0.05% | Top tier | |
| ROE | 33.5%5Y avg ≈17.5% | ≈17.5% | -0.17% | Top tier |
Financial Health Debt, liquidity, solvency — balance sheet strength
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | NREF | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 67.7%5Y avg ≈34.4% | ≈34.4% | · | · | |
| Revenue CAGR 3Y | 7.7%5Y avg ≈2.9% | ≈2.9% | · | · | |
| Revenue CAGR 5Y | 21.7% | · | · | · | |
| EPS YoY | 179.4%5Y avg ≈90.7% | ≈90.7% | · | · | |
| Net Income YoY | 242.4%5Y avg ≈85.5% | ≈85.5% | · | · | |
| EPS CAGR 3Y | 134.9%5Y avg ≈22.9% | ≈22.9% | · | · | |
| EPS CAGR 5Y | 10.4% | · | · | · | |
| Net Income CAGR 3Y | 105.4%5Y avg ≈20.9% | ≈20.9% | · | · | |
| Net Income CAGR 5Y | 29.2% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | NREF | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.05Y avg ≈0.0 | ≈0.0 | 0.0 | Weak |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield12.0%
Payout Ratio28.7%
Annualized Payout≈$2.00
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Sep 15, 2026 | $0.50 | USD | ≈12.5% |
| Jun 15, 2026 | $0.50 | USD | ≈13.4% |
| Mar 13, 2026 | $0.50 | USD | ≈15.2% |
| Dec 15, 2025 | $0.50 | USD | ≈13.8% |
| Sep 15, 2025 | $0.50 | USD | ≈14.2% |
| Jun 13, 2025 | $0.50 | USD | ≈13.9% |
| Mar 14, 2025 | $0.50 | USD | ≈12.7% |
| Dec 13, 2024 | $0.50 | USD | ≈11.8% |
| Sep 13, 2024 | $0.50 | USD | ≈13.6% |
| Jun 14, 2024 | $0.50 | USD | ≈17.8% |
| Mar 14, 2024 | $0.50 | USD | ≈19.1% |
| Dec 14, 2023 | $0.69 | USD | ≈17.6% |
| Sep 14, 2023 | $0.69 | USD | ≈15.6% |
| Jun 14, 2023 | $0.69 | USD | ≈15.6% |
| Mar 14, 2023 | $0.69 | USD | ≈13.5% |
| Dec 14, 2022 | $0.50 | USD | ≈11.4% |
| Sep 14, 2022 | $0.50 | USD | ≈9.7% |
| Jun 14, 2022 | $0.50 | USD | ≈9.7% |
| Mar 14, 2022 | $0.50 | USD | ≈9.1% |
| Dec 14, 2021 | $0.48 | USD | ≈9.2% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-1.2%
Next Report
Oct 28, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Jul 29, 2026 | $0.46 | $0.46 | 0.22% |
| March 31, 2026 | $0.43 | $0.38 | 12.9% | |
| Dec. 31, 2025 | $0.47 | $0.51 | -8.3% | |
| Sept. 30, 2025 | $0.51 | $0.48 | 6.4% | |
| June 30, 2025 | $0.43 | $0.47 | -9.0% | |
| March 31, 2025 | $0.41 | $0.50 | -18.0% | |
| Dec. 31, 2024 | $0.83 | $0.77 | 7.4% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| 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
| 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
| 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
| 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
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Book Value / Share | $20.89 | $19.27 | $20.16 | $26.26 | $26.77 | $25.53 | |
| Revenue / Share | $1.12 | $1.62 | $0.98 | $2.57 | $1.28 | $0.95 | |
| Cash Flow / Share | $0.55 | $1.68 | $1.83 | $4.48 | $2.42 | $1.76 | |
| Cash / Share | $1.68 | $0.22 | $0.80 | $1.17 | $2.89 | $6.02 | |
| Dividend / Share | $2.00 | $2.00 | $2.74 | $2.00 | $1.90 | $1.42 | |
| EPS (TTM) | $2.85 | $1.02 | $0.60 | $0.22 | $3.93 | $1.74 |
Growth Rates
| 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% | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | 36.8% | · | · | · | · | · |
Valuation (TTM)
| 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
| 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 | · | 17,722,000 | 17,712,000 | 17,516,000 | · | 17,461,000 | 17,422,000 | 17,264,000 | · | 17,232,000 | 17,213,000 | 17,118,000 | · | 14,962,000 | |
| Shares (Diluted) | 53,978,000 | 51,456,000 | · | 43,854,000 | 39,460,000 | 36,049,000 | · | 30,468,000 | 27,788,000 | 24,862,000 | · | 23,086,000 | 23,080,000 | 22,678,000 | · | 22,678,000 | |
| EBITDA | · | $1M | · | · | · | $1M | · | · | · | $2M | · | · | · | $476.0K | · | · |
Balance Sheet
| 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
| 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
| 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
| 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 |
Per Share
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $20.15 | $20.80 | · | $21.18 | $19.65 | $19.48 | · | $19.23 | $18.75 | $18.90 | · | $20.02 | $21.57 | $21.95 | · | $23.49 | |
| Revenue / Share | $0.31 | $0.30 | · | $0.28 | $0.31 | $0.32 | · | $0.41 | $0.24 | $-0.52 | · | $0.21 | $0.18 | $0.17 | · | $0.25 | |
| Cash Flow / Share | · | $0.18 | · | · | · | $0.44 | · | · | · | $0.71 | · | · | · | $0.66 | · | · | |
| Cash / Share | $0.34 | $1.21 | · | $1.01 | $0.51 | $1.09 | · | $1.99 | $0.24 | $0.78 | · | $0.64 | $1.14 | $2.26 | · | $1.48 | |
| Dividend / Share | $0.50 | $0.50 | $0.50 | $0.50 | $0.50 | $0.50 | $0.50 | $0.50 | $0.50 | $0.50 | $0.69 | $0.69 | $0.69 | $0.69 | $0.50 | $0.50 | |
| EPS (TTM) | $2.32 | $2.57 | · | $3.09 | $2.69 | $2.55 | · | $1.11 | $-0.53 | $-0.60 | · | $-0.40 | $-0.12 | $-0.19 | · | $1.34 |
Valuation (TTM)
| 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 | $55M | $51M | · | $58M | $58M | $52M | · | $10M | $3M | $35.0K | · | $17M | $16M | $19M | · | $42M | |
| Net Income TTM | $115M | $120M | · | $114M | $87M | $77M | · | $39M | $-2M | $-5M | · | $-1M | $7M | $6M | · | $37M | |
| Market Cap | $292M | $252M | · | $251M | $244M | $270M | · | $273M | $240M | $249M | · | $282M | $269M | $269M | · | $224M | |
| P/E | 6.7 | 5.2 | · | 4.6 | 5.1 | 6.0 | · | 14.1 | -25.9 | -23.9 | · | -40.9 | -129.9 | -82.5 | · | 11.2 | |
| P/S | 5.3 | 4.9 | · | 4.4 | 4.2 | 5.1 | · | 26.6 | 93.2 | 7100.5 | · | 16.7 | 16.5 | 13.9 | · | 5.4 | |
| 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 | · | · | |
| Dividend Yield | 13.5% | 15.4% | · | 14.2% | 14.4% | 13.0% | · | 13.8% | 17.4% | 18.0% | · | 15.2% | 14.3% | 12.7% | · | 11.8% | |
| Earnings Yield | 15.0% | 19.1% | · | 21.8% | 19.5% | 16.7% | · | 7.1% | -3.9% | -4.2% | · | -2.4% | -0.77% | -1.2% | · | 8.9% | |
| Payout Ratio | · | 54.4% | · | · | · | 33.8% | · | · | · | -59.1% | · | · | · | 125.5% | · | · | |
| Annual Payout | $39M | $39M | · | $36M | $35M | $35M | · | $38M | $42M | $45M | · | $43M | $39M | $34M | · | $27M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 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 |
No data for this statement
Not enough fundamentals data to build this statement yet.
No data for this statement
Not enough fundamentals data to build this statement yet.
Institutional owners (13F) 84 filers · $203.7M 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.
Holders
84
Value held
$203.7M
New positions
10
Exited positions
14
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 10 (-5 vs prior Q) | 14 (+7 vs prior Q) | 33 (+5 vs prior Q) | 19 (-9 vs prior Q) | +56K |
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. | $146,314,343 | 9,439,635 | 71.83% | Shares |
| BlackRock, Inc. | $9,676,265 | 624,275 | 4.75% | Shares |
| VANGUARD GROUP INC | $5,592,210 | 397,174 | 2.75% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $5,368,007 | 346,323 | 2.64% | Shares |
| RAYMOND JAMES FINANCIAL INC | $4,539,223 | 292,853 | 2.23% | Shares |
| INDEPENDENT FINANCIAL GROUP, LLC | $4,355,655 | 281,010 | 2.14% | Shares |
| MORGAN STANLEY | $3,023,545 | 195,067 | 1.48% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $2,832,448 | 182,678 | 1.39% | Shares |
| STATE STREET CORP | $2,687,111 | 173,362 | 1.32% | Shares |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC | $2,407,584 | 155,328 | 1.18% | Shares |
| Copley Financial Group, Inc. | $1,714,094 | 110,587 | 0.84% | Shares |
| RITHOLTZ WEALTH MANAGEMENT | $1,621,576 | 104,618 | 0.80% | Shares |
| 1776 Wealth LLC | $1,122,185 | 72,399 | 0.55% | Shares |
| NORTHERN TRUST CORP | $885,686 | 57,141 | 0.43% | Shares |
| GOLDMAN SACHS GROUP INC | $799,568 | 51,585 | 0.39% | Shares |
| LPL Financial LLC | $780,150 | 50,332 | 0.38% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $749,177 | 48,334 | 0.37% | Shares |
| Cetera Investment Advisers | $646,699 | 41,722 | 0.32% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $638,197 | 41,174 | 0.31% | Shares |
| Morey & Quinn Wealth Partners, LLC | $566,712 | 36,562 | 0.28% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $517,498 | 33,387 | 0.25% | Shares |
| HighTower Advisors, LLC | $502,402 | 32,413 | 0.25% | Shares |
| Russell Investments Group, Ltd. | $497,162 | 32,075 | 0.24% | Shares |
| Oak Grove Capital LLC | $418,500 | 27,000 | 0.21% | Shares |
| Concorde Asset Management, LLC | $402,225 | 25,950 | 0.20% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $366,110 | 23,620 | 0.18% | Shares |
| BANK OF AMERICA CORP /DE/ | $363,398 | 23,445 | 0.18% | Shares |
| Navis Wealth Advisors, LLC | $322,688 | 20,819 | 0.16% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $285,200 | 18,400 | 0.14% | Shares |
| Bank of New York Mellon Corp | $271,080 | 17,489 | 0.13% | Shares |
| OPPENHEIMER & CO INC | $269,034 | 17,357 | 0.13% | Shares |
| OSAIC HOLDINGS, INC. | $230,640 | 14,880 | 0.11% | Shares |
| CITADEL ADVISORS LLC | $213,900 | 13,800 | 0.11% | Call option |
| ALLIANCEBERNSTEIN L.P. | $207,977 | 15,440 | 0.10% | Shares |
| Nuveen, LLC | $197,099 | 12,716 | 0.10% | Shares |
| Callan Family Office, LLC | $189,379 | 12,218 | 0.09% | Shares |
| BARCLAYS PLC | $185,831 | 11,989 | 0.09% | Shares |
| Invesco Ltd. | $165,758 | 10,694 | 0.08% | Shares |
| Atria Wealth Solutions, Inc. | $160,984 | 11,674 | 0.08% | Shares |
| AMERIPRISE FINANCIAL INC | $157,186 | 10,141 | 0.08% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $156,371 | 10,088 | 0.08% | Shares |
| RHUMBLINE ADVISERS | $156,127 | 10,073 | 0.08% | Shares |
| UBS Group AG | $124,915 | 8,059 | 0.06% | Shares |
| Daytona Street Capital LLC | $112,420 | 7,000 | 0.06% | Shares |
| DEUTSCHE BANK AG\ | $108,516 | 7,001 | 0.05% | Shares |
| WELLS FARGO & COMPANY/MN | $104,769 | 6,759 | 0.05% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $90,210 | 5,820 | 0.04% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $84,754 | 5,468 | 0.04% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $75,361 | 4,862 | 0.04% | Shares |
| CITIGROUP INC | $58,094 | 3,748 | 0.03% | Shares |
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.
Company insiders 11 insiders · 5 officers · 7 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Paul Richards | Chief Financial Officer, Executive VP-Finance, Assistant Secretary and Treasurer | April 4, 2026 M | 65,692 | 0 | 0 | $0 |
| James D Dondero | President | April 4, 2026 M | 492,250 | 0 | 0 | $0 |
| Dennis Charles Sauter Jr | General Counsel and Secretary | April 4, 2026 M | 33,017 | 0 | 0 | $0 |
| Matt Mcgraner | Executive VP and Chief Investment Officer | April 4, 2026 M | 318,044 | 0 | 0 | $0 |
| Matthew Goetz | Senior VP-Investments and Asset Management | May 8, 2023 M | 89,164 | 0 | 0 | $0 |
| Brian Mitts | Director | April 4, 2026 M | 94,914 | 0 | 1 | $-172,727 |
| Carol Swain | Director | April 3, 2026 M | 11,563 | 0 | 0 | $0 |
| Catherine D. Wood | Director | April 3, 2026 M | 30,228 | 0 | 0 | $0 |
| Edward N. Constantino | Director | April 3, 2026 M | 33,898 | 0 | 0 | $0 |
| Scott F Kavanaugh | Director | April 3, 2026 M | 25,309 | 0 | 0 | $0 |
| Arthur B Laffer | Director | April 3, 2026 M | 65,009 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 13 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 | 4.66% | 8,403 NS | July 31, 2026 | N-PORT |
| EBIT · Harbor ETF Trust | 0.03% | 222 NS | July 31, 2026 | N-PORT |
| IWC · iShares Trust | 0.03% | 24,805 SH | Sept. 11, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.01% | 5,998 SH | Aug. 19, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 234,467 SH | Sept. 11, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.00% | 6,887 | Oct. 2, 2026 | Daily |
| RSSL · Global X Funds | 0.00% | 3,446 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 77,231 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 260,100 SH | Aug. 19, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.00% | 41,602 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 734 SH | Aug. 19, 2026 | Daily |
| IWN · iShares Trust | · | 75,464 SH | Sept. 11, 2026 | Daily |
| REM · iShares Trust | · | 89,210 SH | Sept. 11, 2026 | Daily |
NREF Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 8 analysts
SELL
Median target
$16.75
+5.9%
0 0.0%
Strong Buy
0 0.0%
Buy
5 62.5%
Hold
1 12.5%
Sell
2 25.0%
Strong Sell
12-Month Price Target
2 analysts · 2026-10-03Mean target $16.75 +5.9%
← Below all targets
Current price $15.81
Low$16.00
Mean$16.75
High$17.50
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| 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% | · |
| REFI | $258M | 7.3 | · | 65.0% | 11.7% | · |
| ACRE | $263M | 4.4 | -21.3% | -1.6% | -0.17% | · |
| RC | $355M | -1.5 | 3.0% | -217.3% | -13.1% | · |
| MITT | · | · | · | · | · | · |
| CMTG | $429M | -0.9 | -24.4% | -260.4% | -29.7% | · |
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Source: SEC 10-Q filed Aug 13, 2026