NexPoint Real Estate Finance (NREF) Operating Expenses (2020 - 2026)
NexPoint Real Estate Finance (NREF) posted quarterly Operating Expenses of $10.0 million for Q1 2026, up 20.72% year-over-year from $8.3 million in Q1 2025, and up 28.52% quarter-over-quarter from $7.8 million in Q4 2025.
NexPoint Real Estate Finance (NREF) Operating Expenses (2020 - 2026) Analysis & Trends
NexPoint Real Estate Finance's Operating Expenses history runs 7 years deep, the most recent figure standing at $10.0 million for Q1 2026.
- In Q1 2026, Operating Expenses rose 20.72% year-over-year to $10.0 million; the TTM figure through Mar 2026 stood at $35.4 million (up 4.44% YoY), while the FY2025 annual figure was $33.7 million, down 8.06% from the prior year.
- Operating Expenses for Q1 2026 stood at $10.0 million, up from $7.8 million in the prior quarter.
- The five-year high for Operating Expenses was $11.0 million in Q1 2024, with the low at $5.1 million in Q2 2023.
- The 5-year median for Operating Expenses is $7.8 million (2025), against an average of $7.6 million.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses jumped 101.41% in 2022, then retreated 29.94% in 2023.
- NexPoint Real Estate Finance's Operating Expenses stood at $6.8 million in 2022, then fell by 5.74% to $6.4 million in 2023, then soared by 40.27% to $9.0 million in 2024, then declined by 13.33% to $7.8 million in 2025, then grew by 28.52% to $10.0 million in 2026.
- Business Quant data shows NREF's Operating Expenses at $10.0 million in Q1 2026, $7.8 million in Q4 2025, and $8.4 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Annaly Capital Management | 17.29 Bn | 14.38 Bn | - | 71.74 Mn |
| 2 | AGNC Investment | 12.65 Bn | 11.32 Bn | - | 30.00 Mn |
| 3 | Starwood Property Trust | 5.95 Bn | 3.79 Bn | - | 524.77 Mn |
| 4 | Rithm Capital | 5.71 Bn | 5.71 Bn | - | 1.28 Bn |
| 5 | Dynex Capital | 2.93 Bn | 2.32 Bn | - | 16.21 Mn |
| 6 | Blackstone Mortgage Trust | 2.40 Bn | 1.97 Bn | - | 111.00 Mn |
| 7 | Armour Residential REIT | 2.12 Bn | 2.03 Bn | - | 17.16 Mn |
| 8 | Ellington Financial | 1.73 Bn | 1.49 Bn | - | 76.02 Mn |
| 9 | Orchid Island Capital | 1.34 Bn | 654.61 Mn | 61.82 Mn | 6.76 Mn |
| 10 | NexPoint Real Estate Finance | 320.66 Mn | 125.76 Mn | - | 10.04 Mn |
Historic Data
Download 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 | 7.28 Mn |
| Mar 31, 2022 | 6.06 Mn |
| Dec 31, 2021 | 3.56 Mn |
| Sep 30, 2021 | 3.35 Mn |