NexPoint Q2 Net Income Falls, But Cash Distribution Rises; Guides Q3
NREF sits 37% above its 52-week low of $12.36.
Summary
NexPoint Real Estate Finance reported Q2 net income of $5.4 million, down year-over-year, but cash available for distribution per share rose to $0.58 from $0.46. The company provided Q3 guidance with net income between $7.4 million and $9.8 million and CAD of $0.55 per share at the midpoint. This follows a Q1 earnings decline and a recent $180 million senior notes refinancing that eased liquidity concerns. The stock trades near its 52-week high of $17.50, but the average analyst rating is Hold with a median price target of $15.50, below the current price.
At the time of this announcement, NREF was trading at $16.92 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $318.9M. The 52-week trading range was $12.36 to $17.50. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.