Company: NXDT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001356115-25-000014
Chunk: 114

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1A
Chunk 114
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O attributable to common shareholders2,763 (3,507)N/MAFFO per share - basic$0.06 $(0.09)N/MAFFO per share - diluted$0.06 $(0.09)N/MWeighted average common shares outstanding - basic42,899 38,572 11.2 %Weighted average common shares outstanding - diluted(2)44,297 39,321 12.7 %Distributions declared per common share$0.15 $0.15 — %Net income (loss) coverage(3)-5.46x-3.72x35.59 %FFO Coverage - diluted(3)-4.87x0.33xN/MAFFO Coverage - diluted(3)0.4x-0.69xN/M

(1)Represents the percentage change for the three months ended March 31, 2025 compared to the three months ended March 31, 2024.

(2)The Company uses actual diluted weighted average common shares outstanding when in a dilutive position for FFO and AFFO.

(3)Indicates coverage ratio of net income (loss)/FFO/AFFO per common share (diluted) over distributions declared per common share during the period.

The three months ended March 31, 2025 as compared to the three months ended March 31, 2024

54

FFO was $(30.3) million for the three months ended March 31, 2025, compared to $3.1 million for the three months ended March 31, 2024, which was a decrease of approximately $33.4 million. The change in our FFO between the three months ended March 31, 2025 and the three months ended March 31, 2024 primarily relates to an increase in unrealized losses, primarily attributed to decreases in mark-to-market values of our investments at fair value.

AFFO was $2.8 million for the three months ended March 31, 2025, compared to $(3.5) million for the three months ended March 31, 2024, which was an increase of approximately $6.3 million. The change in our AFFO between the three months ended March 31, 2025 and the three months ended March 31, 2024 primarily relates to an increase in dividend income from our equity investments.

Net Asset