NexPoint Real Estate Finance (NREF) Operating Expenses (2020 - 2026)
NexPoint Real Estate Finance (NREF) posted Operating Expenses of $10.0 million for Q2 2026, little changed on a QoQ basis from $10.0 million in Q1 2026, and up 8.25% year-over-year from $9.3 million in Q2 2025.
Analysis
NexPoint Real Estate Finance (NREF) Operating Expenses (2020 - 2026) Analysis & Trends
NexPoint Real Estate Finance has reported Operating Expenses for 7 years, with the latest figure at $10.0 million in Q2 2026.
- On a quarterly basis, Operating Expenses rose 8.25% year-over-year to $10.0 million in Q2 2026; TTM through Jun 2026 was $36.2 million, a 5.21% increase from a year earlier, with the FY2025 full-year figure at $33.7 million, down 8.06% from the prior year.
- Operating Expenses was $10.0 million for Q2 2026 at NexPoint Real Estate Finance, roughly flat from $10.0 million in the prior quarter.
- The five-year high for Operating Expenses was $11.0 million in Q1 2024, with the low at $3.6 million in Q1 2022.
- Average Operating Expenses over 5 years is $7.8 million, with a median of $8.1 million recorded in 2024.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses surged 168.61% in 2022, then tumbled 47.47% in 2023.
- Over 5 years, Operating Expenses stood at $6.8 million in 2022, then decreased by 5.74% to $6.4 million in 2023, then surged by 40.27% to $9.0 million in 2024, then retreated by 13.33% to $7.8 million in 2025, then increased by 29.0% to $10.0 million in 2026.
- The last three Operating Expenses figures came in at $10.0 million (Q2 2026), $10.0 million (Q1 2026), and $7.8 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Annaly Capital Management | 16.87 Bn | 13.96 Bn | - | 71.74 Mn |
| 2 | AGNC Investment | 12.43 Bn | 11.10 Bn | - | 30.00 Mn |
| 3 | Starwood Property Trust | 5.84 Bn | 3.67 Bn | - | 524.77 Mn |
| 4 | Rithm Capital | 5.57 Bn | 5.57 Bn | - | 1.28 Bn |
| 5 | Dynex Capital | 2.88 Bn | 2.27 Bn | - | 16.21 Mn |
| 6 | Two Harbors Investment | 2.65 Bn | 2.01 Bn | - | 51.40 Mn |
| 7 | Blackstone Mortgage Trust | 2.35 Bn | 1.91 Bn | - | 111.00 Mn |
| 8 | Armour Residential REIT | 2.11 Bn | 2.02 Bn | - | 17.16 Mn |
| 9 | Ellington Financial | 1.71 Bn | 1.46 Bn | - | 76.02 Mn |
| 10 | NexPoint Real Estate Finance | 331.47 Mn | 136.57 Mn | - | 10.04 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 10.04 Mn |
| Mar 31, 2026 | 10.00 Mn |
| Dec 31, 2025 | 7.78 Mn |
| Sep 30, 2025 | 8.35 Mn |
| Jun 30, 2025 | 9.27 Mn |
| Mar 31, 2025 | 8.28 Mn |
| Dec 31, 2024 | 8.98 Mn |
| Sep 30, 2024 | 7.84 Mn |
| Jun 30, 2024 | 8.79 Mn |
| Mar 31, 2024 | 11.03 Mn |
| Dec 31, 2023 | 6.40 Mn |
| Sep 30, 2023 | 6.33 Mn |
| Jun 30, 2023 | 5.10 Mn |
| Mar 31, 2023 | 5.52 Mn |
| Dec 31, 2022 | 6.79 Mn |
| Sep 30, 2022 | 6.05 Mn |
| Jun 30, 2022 | 9.71 Mn |
| Mar 31, 2022 | 3.63 Mn |
| Dec 31, 2021 | 3.56 Mn |
| Sep 30, 2021 | 3.35 Mn |