NREF
NexPoint Real Estate Finance, Inc.
NREF's fundamentals are mixed, but it looks expensive: trading at 24x earnings, about four times its usual 6.1x. Analysts expect earnings to hold roughly steady.
NREF Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Stable | |
| N/A | |
| N/A |
NREF's profitability is currently stable. There isn't enough data to rate its revenue. Free cash flow and net leverage aren't meaningful measures for real estate companies like NREF.
NREF PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 4.8x | $2.55 | -80% |
| Fair | 6.1x | $3.23 | -74% |
| Forward | 7.6x | $12.67 | — |
| Expensive | 14x | $7.57 | -40% |
| Current | 24x | $12.67 | — |
Historical ranges are pointers, not guarantees.
NREF's PE is in its expensive range at 24x. On analysts' estimates for next year's earnings, today's price would be 7.6x, in its fair range.
NREF Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Stable | |
| Decline | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect NREF's profitability to improve, but its revenue to decline.
NREF Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.66 | +214% |
| Q3 2026 | $0.53 | -83% |
| Q2 2026 | $2.32 | -14% |
| Q1 2026 | $2.57 | +0.8% |
| Q4 2025 | $2.85 | +179% |
| Q3 2025 | $3.09 | +178% |
| Q2 2025 | $2.69 | +$3.22 |
| Q1 2025 | $2.55 | +$3.15 |
| Q4 2024 | $1.02 | +70% |
NREF's earnings per share have fallen from their peak: $0.53 over the past year, against $4.45 in late 2021.
NREF Quarterly Revenue
| Quarter | Margin | YoY |
|---|---|---|
| Q4 2019 | 49% | N/A |
NREF Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $3.2M | -61% |
| Q2 2026 | -$6M | -282% |
| Q1 2026 | $9.4M | -41% |
| Q4 2025 | -$4.5M | -204% |
| Q3 2025 | $8.1M | -45% |
| Q2 2025 | $3.3M | +$10.8M |
| Q1 2025 | $16M | -9.4% |
| Q4 2024 | $4.4M | +39% |
NREF's free cash flow was $2M over the past year, down 94% from the year before. Free cash flow isn't a meaningful measure for real estate companies like NREF.
NREF Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -65% | -35.1M shares |
| 1 year | -52% | -20.6M shares |
| 3 years | -17% | -3.8M shares |
| 5 years | +261% | +13.6M shares |
NREF has 19M diluted shares, down 52% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2021 | — |
| Q3 2021 | — |
| Q4 2020 | $3.1M |
| Q3 2020 | $377,000 |
| Q2 2020 | — |
| Q1 2020 | $1.3M |
NREF Net Leverage
NREF Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 30.1 | Neutral |
| Stochastic | 4.5 | Oversold |
NREF's weekly RSI is 30 (neutral) and its Stochastic is 5 (oversold).
NREF PE vs Real Estate Sector
| Metric | NREF | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 24x | Same PE |
| PE % | 90 | 24 | 66 pts above |
NREF is trading at 24x earnings, in line with the Real Estate sector's median of 24x.
NREF Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $14.9 | 15% below |
| 20 week MA | $16.1 | 21% below |
| 50 week MA | $15.2 | 17% below |
| 100 week MA | $14.9 | 15% below |
| 200 week MA | $15.1 | 16% below |
NREF is in a downtrend: it's below all five of its weekly moving averages, and 16% below its 200-week average.
NREF Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $18.8 | $16.4 | -13% |
| 2021 | $16.4 | $19.3 | +17% |
| 2022 | $19.3 | $16.6 | -14% |
| 2023 | $16.6 | $15.8 | -5.3% |
| 2024 | $15.8 | $15.3 | -2.7% |
| 2025 | $15.3 | $14.1 | -8.3% |
| 2026 YTD | $14.1 | $12.7 | -9.8% |
NREF has finished four years in a row lower, and it's down 9.8% so far in 2026.