DALLAS, May 2, 2024 /PRNewswire/ -- NexPoint Real Estate Finance, Inc. ("NREF" or the "Company") (NYSE:NREF) today reported its financial results for the quarter ended March 31, 2024. NREF reported a net loss of $(14.6) million, or $(0.83) per diluted share1, for the three months ended March 31, 2024. NREF reported cash available for distribution2 of $14.9 million, or $0.60 per diluted share1, for the three months ended March 31, 2024. "Amid challenging conditions in the commercial real estate market, NREF's portfolio remains a reliable source of stable and defensive returns," commented Chief Investment Officer Matthew McGraner. He added, "NREF is actively leveraging its core operating platforms to capitalize on market dislocation." First Quarter 2024 Highlights Outstanding total portfolio of $1.2 billion, composed of 90 investments3 Single-family rental ("SFR"), multifamily, life sciences and specialty manufacturing, and self-storage represent 21.9%, 64.6%, 11.4%, and 2.1% of the Company's debt portfolio, respectively Weighted-average loan to value ("LTV")4 and debt service coverage ratio ("DSCR") on our SFR, CMBS, CMBS IO strips, preferred, mezzanine, credit risk transfer and mortgage-backed security investments are 86.6% and 1.74x3, respectively As of May 1, 2024, there are no loans currently in forbearance in our portfolio During 1Q 2024, NREF purchased a K – Series B-Piece with an outstanding principal balance of $30.9MM with bond equivalent yield of 9.75% During 1Q 2024, NREF received $508.7MM from the redemption of one of our senior loans and recognized $8.9MM in aggregate prepayment penalties 1 Weighted-average diluted shares outstanding assumes vesting of all outstanding unvested restricted stock units and the conversion of all redeemable non-controlling interests. 2 Earnings available for distribution and cash available for distribution are non-GAAP measures. For a discussion of why we consider these non-GAAP measures useful and reconciliations of earnings available for distribution and cash available for distribution to net income (loss) attributable to common stockholders, see the "Reconciliations of Non-GAAP Financial Measures" and "Non-GAAP Financial Measures" sections of this release. 3 As of March 31, 2024; and excluding the common stock investments, preferred stock investment, the Hudson Montford and Alexander at the District multifamily properties, CMBS B-Pieces reflected on an unconsolidated basis.  4 Loan to value is generally based on the initial loan amount divided by the as-is appraised value as of the date the loan was originated or by the current principal amount as of the date of the most recent as-is appraised value. For our CMBS B-Pieces, LTV is based on the weighted-average LTV of the underlying loan pool. 5 Net income attributable to common stockholders in 2Q 2024 is estimated to be between $7.4MM and $9.8MM. See reconciliations below. Looking Ahead: Second Quarter 2024 Guidance Earnings Available for Distribution 2Q 2024 EAD per diluted common share guidance is $0.455 at the midpoint Low Mid High Jun. 30, 2024 Jun. 30, 2024 Jun. 30, 2024 Net income attributable to common stockholders $ 7,438 $ 8,571 $ 9,802 Net income attributable to redeemable noncontrolling interests 1,749 1,967 2,186 Adjustments Amortization of stock-based compensation 1,618 1,618 1,618 EAD $ 10,805 $ 12,156 $ 13,606 Weighted average common shares outstanding - basic 17,434 17,434 17,434 Weighted average common shares outstanding - diluted 27,013 27,013 27,013 EPS per Diluted Weighted Average Share $ 0.34 $ 0.39 $ 0.44 EAD per Diluted Weighted Average Share $ 0.40