# NexPoint Real Estate Finance, Inc. (NREF-PA)

> Source: Nexqual · https://nexqual.com/NREF-PA · data as of 2026-10-15 19:56 UTC · cite as "Nexqual, NexPoint Real Estate Finance, Inc. (NREF-PA), nexqual.com/NREF-PA" · informational, not investment advice.

**Price:** USD 24.99 (+1.71% on the day) · last close of Oct 15, 2026; US market closed, not a live price. Prev close 24.57 · day 24.53–25.1 · 52w 22.43–25.96 · market cap null · NYQ

## Key facts
- Total return with dividends: 1Y +14.6% vs S&P 500 +18.1%; 5Y +52.8% vs S&P 500 +85.1%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Net income | $83.5M | $14.2M | $18.7M | $36.0M | $123M | $115M |
| EPS (diluted) | $3.93 | $0.22 | $0.60 | $1.02 | $2.85 | — |
| Cash + short-term investments | $26.5M | $20.0M | $13.8M | $3.9M | $31.1M | — |
| Total debt | $1.28B | $1.35B | $1.27B | $799M | $771M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)

P/E at fiscal year-ends: Dec 2025 8.2x, Dec 2024 11.3x, Dec 2023 19.3x.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-16) | 5Y (from 2021-10-11) |
|---|---|---|
| Total return | +14.6% | +52.8% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | +14.7% | +8.8% |
| Volatility (annualized) | 14.5% | 16.0% |
| Max drawdown | -9.2% (Feb 2026→Mar 2026) | -24.2% (Jan 2022→Dec 2022) |

## Peers (REIT - Mortgage)
NLY (Annaly Capital Management Inc.) USD 18.43 +1.49% · AGNC (AGNC Investment Corp.) USD 8.82 +2.44% · RITM (Rithm Capital Corp.) USD 8.71 +2.47% · STWD (STARWOOD PROPERTY TRUST, INC. S) USD 12.61 +1.04% · DX (Dynex Capital, Inc.) USD 11.12 +2.49% · ARR (ARMOUR Residential REIT, Inc.) USD 13.66 +0.52%

## More
Full page: https://nexqual.com/NREF-PA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt