NexPoint Real Estate Finance Inc
For the period ended Dec 31, 2023. Filed Mar 22, 2024.
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FY2023 · Filed Mar 22, 2024
NREF$13.52+0.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1B.
(in thousands, except per share amounts)
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Net interest income | |||
| Interest income | $68,358 | $77,988 | $55,827 |
| Interest expense | (51,560) | (40,255) | (29,772) |
| Total net interest income | 16,798 | 37,733 | 26,055 |
| Other income (loss) | |||
| Change in net assets related to consolidated CMBS variable interest entities | 38,213 | 10,239 | 57,618 |
| Change in unrealized gain (loss) on CMBS structured pass-through certificates | 1,533 | (12,664) | (483) |
| Change in unrealized gain (loss) on common stock investments | (16,736) | (5,196) | 13,834 |
| Change in unrealized gain (loss) on preferred stock investments | 266 | — | — |
| Change in unrealized gain (loss) on MSCR notes | 65 | (53) | — |
| Change in unrealized gain (loss) on mortgage backed securities | 467 | (1,230) | — |
| Reversal of (provision for) credit losses | (4,299) | (169) | (189) |
| Dividend income, net | 193 | — | — |
| Realized Losses | — | (1,084) | (257) |
| Other income | 1,520 | 399 | 780 |
| Gain on deconsolidation of real estate owned | 1,490 | — | — |
| Gain on extinguishment of debt | — | 17 | — |
| Equity in income (losses) of equity method investments | (2,564) | — | — |
| Revenues from consolidated real estate owned | 5,144 | 12,402 | 10 |
| Total other income (loss) | 25,292 | 2,661 | 71,313 |
| Operating expenses | |||
| General and administrative expenses | 9,204 | 7,243 | 6,371 |
| Loan servicing fees | 4,187 | 4,388 | 5,179 |
| Management fees | 3,281 | 3,151 | 2,296 |
| Expenses from consolidated real estate owned | 6,678 | 11,398 | 50 |
| Total operating expenses | 23,350 | 26,180 | 13,896 |
| Net income (loss) | 18,740 | 14,214 | 83,472 |
| Net (income) loss attributable to series A preferred shareholders | (3,496) | (3,512) | (3,508) |
| Net (income) loss attributable to series B preferred shareholders | (80) | — | — |
| Net (income) loss attributable to redeemable noncontrolling interests | (4,765) | (4,969) | (40,387) |
| Net (income) loss attributable to redeemable noncontrolling interests in subsidiaries | — | (2,499) | — |
| Net income (loss) attributable to common stockholders | $10,399 | $3,234 | $39,577 |
| Weighted-average common shares outstanding - basic | 17,199 | 14,686 | 6,601 |
| Weighted-average common shares outstanding - diluted (1) | 17,199 | 14,686 | 20,366 |
| Earnings (loss) per share outstanding - basic | $0.60 | $0.22 | $6.00 |
| Earnings (loss) per share outstanding - diluted | $0.60 | $0.22 | $3.93 |
| Dividends declared per common share | $2.7400 | $2.0000 | $1.9000 |
(1)Diluted EPS calculations were higher than basic EPS and thus anti-dilutive for the years ended December 31, 2023 and 2022, respectively. As such, the Company is presenting diluted EPS as equal to basic EPS.
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