NexPoint Real Estate Finance Inc (NREF) Quarterly 10-Q Report
NexPoint Real Estate Finance, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing net interest income of $12.5 million, an increase from $4.8 million in the same quarter the previous year. The increase is attributed to higher yielding assets and a decrease in interest expenses.
Other income for the quarter was $18.7 million, compared to a loss of $15.5 million in the previous year, driven by unrealized gains related to consolidated CMBS variable interest entities and fair value marks.
Operating expenses increased to $7.8 million from $6.3 million, primarily due to higher payroll and legal expenses.
Net income attributable to common stockholders was $16.1 million, compared to a loss of $15.6 million in the previous year.
For the nine months ended September 30, 2024, net interest income was $6.4 million, down from $13.0 million in the previous year, primarily due to accelerated amortization of a loan premium.
Other income for the nine months was $42.0 million, an increase from $4.8 million, largely due to unrealized gains and reversal of credit losses.
Operating expenses for the nine months were $27.7 million, compared to $17.0 million, with the increase attributed to stock compensation and legal fees.
Net income attributable to common stockholders for the nine months was $9.3 million, compared to a loss of $3.2 million in the previous year.
The company declared a quarterly dividend of $0.50 per share for common stockholders, maintaining the same rate as the previous quarter.
NexPoint continues to focus on investments in first-lien mortgage loans, mezzanine loans, and preferred equity, primarily in the multifamily, single-family rental, self-storage, and life science sectors.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the NexPoint Real Estate Finance Inc - Ordinary Shares quarterly 10-Q report dated November 7, 2024. To report an error, please email [email protected].