Company: NREF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052000
Chunk: 279

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 2
Chunk 279
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 servicing fees. Loan servicing fees were $1.1 million for the nine months ended September 30, 2025 compared to $1.3 million for the nine months ended September 30, 2024, which was a decrease of approximately $0.2 million. The decrease between the periods was primarily due to a decrease in SFR Loans in the portfolio compared to the prior period.

Management fees. Management fees were $4.8 million for the nine months ended September 30, 2025 compared to $2.8 million for the nine months ended September 30, 2024. The increase between the periods was primarily due to an increase in Equity as defined by the Management Agreement.

Expenses from consolidated real estate owned.  Expenses from consolidated real estate owned were $10.4 million for the nine months ended September 30, 2025, compared to $14.1 million for the nine months ended September 30, 2024, 

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which was a decrease of approximately $3.7 million. The decrease between the periods is due to the Company selling Hudson Montford on July 22, 2025.

Key Financial Measures and Indicators

As a real estate finance company, we believe the key financial measures and indicators for our business are earnings per share, dividends declared, EAD, CAD and book value per share.

Earnings Per Share and Dividends Declared

The following table sets forth the calculation of basic and diluted net income per share and dividends declared per share (in thousands, except per share data):

For the Three Months Ended September 30,20252024% ChangeNet income attributable to common stockholders$35,032 $16,116 117.4 %Net income attributable to redeemable noncontrolling interests7,782 3,940 97.5 %Net income attributable to Series B Preferred stockholders7,174 2,403 198.5 %Weighted-average number of shares of common stock outstandingBasic17,722 17,461 1.5 %Diluted43,854 30,468 43.9 %Net income per share, basic$1.98 $0.92 115.2 %Net income per share, diluted$1.14 $0.74 54.1 %Dividends declared per share$0.5000 $0.5000 — %

For the Nine Months Ended September 30,202520