$NREF
NexPoint Real Estate Finance, Inc.

2021 Q4 Form 10-Q Financial Statement

#000143774921025751 Filed on November 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $32.45M $36.33M $20.52M
YoY Change -9.11% 77.04%
Cost Of Revenue $9.133M $9.117M $7.340M
YoY Change 15.75% 24.21%
Gross Profit $23.32M $27.21M $13.17M
YoY Change -16.16% 106.62%
Gross Profit Margin 71.85% 74.9% 64.18%
Selling, General & Admin $2.270M $2.027M $1.650M
YoY Change 46.45% 22.85%
% of Gross Profit 9.74% 7.45% 12.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.358M $3.354M $2.888M
YoY Change 48.3% 16.14%
Operating Profit $20.96M $23.86M $10.28M
YoY Change -20.07% 132.04%
Interest Expense $7.790M $6.102M
YoY Change 27.66%
% of Operating Profit 32.65% 59.35%
Other Income/Expense, Net $21.96M $10.04M
YoY Change 118.78%
Pretax Income $20.96M $25.19M $11.54M
YoY Change -20.07% 118.29%
Income Tax
% Of Pretax Income
Net Earnings $13.32M $25.19M $11.54M
YoY Change 30.69% 118.27%
Net Earnings / Revenue 41.04% 69.34% 56.24%
Basic Earnings Per Share $1.93 $0.54
Diluted Earnings Per Share $999.8K $1.17 $0.52
COMMON SHARES
Basic Shares Outstanding 9.162M 6.863M 5.261M
Diluted Shares Outstanding 20.72M 5.550M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.46M $22.22M $18.00M
YoY Change -12.39% 23.44%
Cash & Equivalents $26.46M $22.22M $17.96M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $6.440M
Other Receivables $0.00
Total Short-Term Assets $26.46M $28.66M $18.00M
YoY Change -12.39% 59.22%
LONG-TERM ASSETS
Property, Plant & Equipment $62.27M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $8.168B $8.079B $6.104B
YoY Change 35.93% 32.37%
Other Assets $6.773M $2.360M
YoY Change 111.66%
Total Long-Term Assets $8.487B $8.268B $6.148B
YoY Change 38.09% 34.49%
TOTAL ASSETS
Total Short-Term Assets $26.46M $28.66M $18.00M
Total Long-Term Assets $8.487B $8.268B $6.148B
Total Assets $8.514B $8.296B $6.166B
YoY Change 37.85% 34.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.903M $3.984M $2.300M
YoY Change 116.83% 73.22%
Accrued Expenses $3.985M $5.046M $1.200M
YoY Change 73.26% 320.5%
Deferred Revenue
YoY Change
Short-Term Debt $286.3M $222.5M $160.2M
YoY Change 77.29% 38.91%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $294.2M $233.8M $163.7M
YoY Change 77.66% 42.79%
LONG-TERM LIABILITIES
Long-Term Debt $7.713B $7.566B $5.613B
YoY Change 37.57% 34.8%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $7.713B $7.566B $5.613B
YoY Change 37.57% 34.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $294.2M $233.8M $163.7M
Total Long-Term Liabilities $7.713B $7.566B $5.613B
Total Liabilities $8.007B $7.800B $5.777B
YoY Change 38.72% 35.03%
SHAREHOLDERS EQUITY
Retained Earnings $28.37M $20.64M -$3.709M
YoY Change 713.97% -656.38%
Common Stock $222.4M $222.4M $137.8M
YoY Change 61.05% 61.38%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $238.0M $230.3M $123.9M
YoY Change
Total Liabilities & Shareholders Equity $8.514B $8.296B $6.166B
YoY Change 37.85% 34.56%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $13.32M $25.19M $11.54M
YoY Change 30.69% 118.27%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $12.07M $14.38M $9.120M
YoY Change 1.7% 57.73%
INVESTING ACTIVITIES
Capital Expenditures -$29.79M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $351.1M $151.5M -$88.73M
YoY Change 739.01% -270.71%
Cash From Investing Activities $321.3M $151.5M -$88.73M
YoY Change 667.83% -270.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -324.8M -172.0M 96.61M
YoY Change 749.92% -277.99%
NET CHANGE
Cash From Operating Activities 12.07M 14.38M 9.120M
Cash From Investing Activities 321.3M 151.5M -88.73M
Cash From Financing Activities -324.8M -172.0M 96.61M
Net Change In Cash 8.653M -6.099M 17.00M
YoY Change -44.21% -135.88%
FREE CASH FLOW
Cash From Operating Activities $12.07M $14.38M $9.120M
Capital Expenditures -$29.79M
Free Cash Flow $41.86M
YoY Change

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CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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237503000 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
86297000 USD
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
459000 USD
CY2020Q3 nref Preferred Stock Issued During Period Value New Issues
PreferredStockIssuedDuringPeriodValueNewIssues
46081000 USD
CY2020Q3 us-gaap Stock Issued During Period Value Share Based Compensation
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252000 USD
us-gaap Payments To Acquire Marketable Securities
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36874000 USD
nref Realized Investment Gains Losses Net
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-0 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1485000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
292000 USD
us-gaap Increase Decrease In Interest And Dividends Receivable
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1362000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
40200000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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3921000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
0 USD
CY2020Q3 nref Preferred Stock Repurchased During Period Value
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8571000 USD
CY2020Q3 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
874000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2862000 USD
CY2020Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
874000 USD
CY2020Q3 us-gaap Dividends Common Stock
DividendsCommonStock
2220000 USD
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
123865000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
0 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
91488000 USD
nref Preferred Stock Issued During Period Value New Issues
PreferredStockIssuedDuringPeriodValueNewIssues
46081000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
292000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1716000 USD
nref Preferred Stock Repurchased During Period Value
PreferredStockRepurchasedDuringPeriodValue
8571000 USD
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
874000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1779000 USD
us-gaap Dividends Preferred Stock
DividendsPreferredStock
874000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
5488000 USD
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
123865000 USD
us-gaap Profit Loss
ProfitLoss
62515000 USD
us-gaap Profit Loss
ProfitLoss
7946000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
10484000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
5620000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
6118000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
1549000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
101000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
279000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
34671000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-11130000 USD
nref Realized Investment Gains Losses Net
RealizedInvestmentGainsLossesNet
-395000 USD
us-gaap Increase Decrease In Interest And Dividends Receivable
IncreaseDecreaseInInterestAndDividendsReceivable
4477000 USD
us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
363000 USD
us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
749000 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
2735000 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
1201000 USD
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
2025000 USD
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
1341000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
37226000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
21034000 USD
us-gaap Proceeds From Sale Of Loans Held For Investment
ProceedsFromSaleOfLoansHeldForInvestment
42130000 USD
us-gaap Proceeds From Sale Of Loans Held For Investment
ProceedsFromSaleOfLoansHeldForInvestment
5237000 USD
nref Payments To Acquire Bridge Loan
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32595000 USD
nref Payments To Acquire Bridge Loan
PaymentsToAcquireBridgeLoan
-0 USD
us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
28911000 USD
us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
7500000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
196542000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-110112000 USD
us-gaap Repayments Of Secured Debt
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35026000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
1825000 USD
nref Proceeds From Securities Sold Under Agreements To Repurchase
ProceedsFromSecuritiesSoldUnderAgreementsToRepurchase
75911000 USD
nref Proceeds From Securities Sold Under Agreements To Repurchase
ProceedsFromSecuritiesSoldUnderAgreementsToRepurchase
160379000 USD
nref Payments For Securities Sold Under Agreements To Repurchase
PaymentsForSecuritiesSoldUnderAgreementsToRepurchase
14843000 USD
nref Payments For Securities Sold Under Agreements To Repurchase
PaymentsForSecuritiesSoldUnderAgreementsToRepurchase
167000 USD
us-gaap Proceeds From Unsecured Notes Payable
ProceedsFromUnsecuredNotesPayable
72684000 USD
us-gaap Proceeds From Unsecured Notes Payable
ProceedsFromUnsecuredNotesPayable
0 USD
us-gaap Proceeds From Subordinated Short Term Debt
ProceedsFromSubordinatedShortTermDebt
0 USD
us-gaap Proceeds From Subordinated Short Term Debt
ProceedsFromSubordinatedShortTermDebt
86000000 USD
us-gaap Repayments Of Subordinated Short Term Debt
RepaymentsOfSubordinatedShortTermDebt
-0 USD
us-gaap Repayments Of Subordinated Short Term Debt
RepaymentsOfSubordinatedShortTermDebt
181000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
32393000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
32393000 USD
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
-0 USD
us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
-0 USD
us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
8571000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
-0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1716000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
318000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
-0 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
9811000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
5367000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
2626000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
-0 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
17032000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
13548000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
11783000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-242660000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
107042000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-8892000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
17964000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
33471000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
0 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
24579000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
17964000 USD
us-gaap Interest Paid Net
InterestPaidNet
18755000 USD
us-gaap Interest Paid Net
InterestPaidNet
16499000 USD
nref Noncash Or Part Noncash Contribution From Noncontrolling Interest
NoncashOrPartNoncashContributionFromNoncontrollingInterest
0 USD
nref Noncash Or Part Noncash Contribution From Noncontrolling Interest
NoncashOrPartNoncashContributionFromNoncontrollingInterest
2797735000 USD
us-gaap Noncash Or Part Noncash Acquisition Other Assets Acquired1
NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1
0 USD
us-gaap Noncash Or Part Noncash Acquisition Other Assets Acquired1
NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1
3616000 USD
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
-0 USD
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
2539724000 USD
nref Consolidation Of Mortgage Loans And Bonds Payable Held In Variable Interest Entities
ConsolidationOfMortgageLoansAndBondsPayableHeldInVariableInterestEntities
2394732000 USD
nref Consolidation Of Mortgage Loans And Bonds Payable Held In Variable Interest Entities
ConsolidationOfMortgageLoansAndBondsPayableHeldInVariableInterestEntities
3179620000 USD
nref Securities Purchased Not Yet Settled Due To Brokers
SecuritiesPurchasedNotYetSettledDueToBrokers
2188000 USD
nref Securities Purchased Not Yet Settled Due To Brokers
SecuritiesPurchasedNotYetSettledDueToBrokers
0 USD
nref Consolidation Of Noncontrolling Interest In Mortgage Loans Held In Variable Interest Entities
ConsolidationOfNoncontrollingInterestInMortgageLoansHeldInVariableInterestEntities
7069000 USD
nref Consolidation Of Noncontrolling Interest In Mortgage Loans Held In Variable Interest Entities
ConsolidationOfNoncontrollingInterestInMortgageLoansHeldInVariableInterestEntities
0 USD
nref Increase Decrease In Dividends Payable Upon Vesting Of Restricted Stock Units
IncreaseDecreaseInDividendsPayableUponVestingOfRestrictedStockUnits
180000 USD
nref Increase Decrease In Dividends Payable Upon Vesting Of Restricted Stock Units
IncreaseDecreaseInDividendsPayableUponVestingOfRestrictedStockUnits
121000 USD
us-gaap Dividends Stock
DividendsStock
0 USD
us-gaap Dividends Stock
DividendsStock
1254000 USD
us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
874000 USD
us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
874000 USD
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><i>Use of Estimates and Assumptions</i></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. It is at least reasonably possible that these estimates could change in the near term. Estimates are inherently subjective in nature and actual results could differ from our estimates and the differences could be material.</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;">As a result of the COVID-<em style="font: inherit;">19</em> pandemic, the Company has received and <em style="font: inherit;"> may </em>continue to receive forbearance requests and <em style="font: inherit;"> may </em>experience difficulty making new investments or redeploying proceeds from repayments of our existing investments, meeting financial covenants in the Company's debt obligations or accessing debt and equity capital on attractive terms, or at all. In addition, reduced economic activity <em style="font: inherit;"> may </em>cause certain borrowers underlying the Company's real estate related assets and senior loans to become delinquent or default on their loans, or seek to defer payment on, or refinance, their loans. The Company is closely monitoring the impact of the COVID-<em style="font: inherit;">19</em> pandemic on all aspects of our business. From inception through <em style="font: inherit;"> September 30, 2021</em>, there have been four forbearance requests approved in the Company's CMBS B-Piece portfolio, representing 0.8% of the Company's consolidated unpaid principal balance outstanding. Additionally, there were nine forbearance requests approved in the Company's SFR Loan book. However, as of <em style="font: inherit;"> September 30, 2021</em>, these loans were <em style="font: inherit;">no</em> longer in forbearance. Despite these forbearance requests, the master servicers continued to make payments to the Company for the portion of our CMBS B-Piece and SFR Loans that requested forbearance, and were approved by the Federal Home Loan Mortgage Corporation ("Freddie Mac"), during the entire forbearance period. These agreed upon forbearance requests include both principal and interest payments for <em style="font: inherit;">three</em> months, with an option to the borrower to extend an additional <em style="font: inherit;">three</em> months, and require the borrower to repay Freddie Mac within <em style="font: inherit;">twelve</em> months of the end of the forbearance period. For additional information regarding the risks to the Company related to the COVID-<em style="font: inherit;">19</em> pandemic, or any other future pandemic, see "Item <em style="font: inherit;">1A.</em> Risk Factors" of our Annual Report on Form <em style="font: inherit;">10</em>-K filed with the SEC on <em style="font: inherit;"> February 25, 2021.</em></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
CY2021Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 USD
CY2021Q3 nref Loans And Preferred Equity Gross
LoansAndPreferredEquityGross
965923000 USD
CY2021Q3 nref Loans And Preferred Equity Net Amount
LoansAndPreferredEquityNetAmount
1024345000 USD
CY2021Q3 nref Loans And Leases Receivable Number Of Loans
LoansAndLeasesReceivableNumberOfLoans
47 pure
CY2021Q3 nref Loans And Leases Receivable Weighted Average Fixed Rate
LoansAndLeasesReceivableWeightedAverageFixedRate
0.9727 pure
CY2021Q3 nref Loans And Leases Receivable Weighted Average Coupon
LoansAndLeasesReceivableWeightedAverageCoupon
0.0536 pure
nref Loans And Leases Receivable Weighted Average Life
LoansAndLeasesReceivableWeightedAverageLife
P6Y8M26D
CY2020Q4 nref Loans And Preferred Equity Gross
LoansAndPreferredEquityGross
978641000 USD
CY2020Q4 nref Loans And Preferred Equity Net Amount
LoansAndPreferredEquityNetAmount
1045891000 USD
CY2020Q4 nref Loans And Leases Receivable Number Of Loans
LoansAndLeasesReceivableNumberOfLoans
48 pure
CY2020Q4 nref Loans And Leases Receivable Weighted Average Fixed Rate
LoansAndLeasesReceivableWeightedAverageFixedRate
1.0000 pure
CY2020Q4 nref Loans And Leases Receivable Weighted Average Coupon
LoansAndLeasesReceivableWeightedAverageCoupon
0.0524 pure
CY2020 nref Loans And Leases Receivable Weighted Average Life
LoansAndLeasesReceivableWeightedAverageLife
P7Y6M14D
CY2021Q3 nref Incremental Common Shares Attributable To Dilutive Effect Of Op Units And Sub Op Units
IncrementalCommonSharesAttributableToDilutiveEffectOfOPUnitsAndSubOPUnits
13417000
nref Mortgage Loans Held For Investment Contributions From Noncontrolling Interests In The Op
MortgageLoansHeldForInvestmentContributionsFromNoncontrollingInterestsInTheOP
0 USD
nref Mortgage Loans Held For Investment Contributions From Noncontrolling Interests In The Op
MortgageLoansHeldForInvestmentContributionsFromNoncontrollingInterestsInTheOP
967202000 USD
nref Mortgage Loans On Rea Estate From Redemption Of Mezzanine Loan Net
MortgageLoansOnReaEstateFromRedemptionOfMezzanineLoanNet
0 USD
nref Mortgage Loans On Rea Estate From Redemption Of Mezzanine Loan Net
MortgageLoansOnReaEstateFromRedemptionOfMezzanineLoanNet
-3221000 USD
nref Mortgage Loans On Real Estate Provision On Loan Loss
MortgageLoansOnRealEstateProvisionOnLoanLoss
-101000 USD
nref Mortgage Loans On Real Estate Provision On Loan Loss
MortgageLoansOnRealEstateProvisionOnLoanLoss
-279000 USD
CY2021Q3 us-gaap Financing Receivable Unamortized Purchase Premium Discount
FinancingReceivableUnamortizedPurchasePremiumDiscount
58800000 USD
CY2020Q4 us-gaap Financing Receivable Unamortized Purchase Premium Discount
FinancingReceivableUnamortizedPurchasePremiumDiscount
67600000 USD
CY2021Q3 nref Loans And Leases Receivable Number Of Loans
LoansAndLeasesReceivableNumberOfLoans
47 pure
CY2021Q3 nref Loans And Preferred Equity Net Amount
LoansAndPreferredEquityNetAmount
1024345000 USD
CY2021Q3 nref Loans And Leases Receivable Percentage Of Loan Portfolio
LoansAndLeasesReceivablePercentageOfLoanPortfolio
1.0000 pure
CY2020Q4 nref Loans And Leases Receivable Number Of Loans
LoansAndLeasesReceivableNumberOfLoans
48 pure
CY2020Q4 nref Loans And Preferred Equity Net Amount
LoansAndPreferredEquityNetAmount
1045891000 USD
CY2020Q4 nref Loans And Leases Receivable Percentage Of Loan Portfolio
LoansAndLeasesReceivablePercentageOfLoanPortfolio
1.0000 pure
CY2021Q3 nref Loans And Leases Receivable Percentage Of Loan Portfolio
LoansAndLeasesReceivablePercentageOfLoanPortfolio
1.0000 pure
CY2020Q4 nref Loans And Leases Receivable Percentage Of Loan Portfolio
LoansAndLeasesReceivablePercentageOfLoanPortfolio
1.0000 pure
CY2021Q3 nref Loans And Leases Receivable Percentage Of Loan Portfolio
LoansAndLeasesReceivablePercentageOfLoanPortfolio
1.0000 pure
CY2020Q4 nref Loans And Leases Receivable Percentage Of Loan Portfolio
LoansAndLeasesReceivablePercentageOfLoanPortfolio
1.0000 pure
nref Debt Instrument Assumption
DebtInstrumentAssumption
0 USD
nref Debt Instrument Assumption
DebtInstrumentAssumption
788764000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
222533000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
-0 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
4870000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
5740000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
82594000 USD
CY2021Q3 nref Longterm Debt Maturity After Year Four
LongtermDebtMaturityAfterYearFour
823723000 USD
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
1139460000 USD
CY2021Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
9449083
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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CY2021Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
9162096
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2020Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
10000000.0 USD
CY2020Q3 nref Incremental Common Shares Attributable To Dilutive Effect Of Op Units And Sub Op Units
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13575000
nref Incremental Common Shares Attributable To Dilutive Effect Of Op Units And Sub Op Units
IncrementalCommonSharesAttributableToDilutiveEffectOfOPUnitsAndSubOPUnits
13663000
nref Incremental Common Shares Attributable To Dilutive Effect Of Op Units And Sub Op Units
IncrementalCommonSharesAttributableToDilutiveEffectOfOPUnitsAndSubOPUnits
13065000
CY2021Q3 nref Weighted Average Number Of Diluted Shares Outstanding Including Op Unit Effect
WeightedAverageNumberOfDilutedSharesOutstandingIncludingOpUnitEffect
20720000
CY2020Q3 nref Weighted Average Number Of Diluted Shares Outstanding Including Op Unit Effect
WeightedAverageNumberOfDilutedSharesOutstandingIncludingOpUnitEffect
19125000
nref Weighted Average Number Of Diluted Shares Outstanding Including Op Unit Effect
WeightedAverageNumberOfDilutedSharesOutstandingIncludingOpUnitEffect
19847000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
10667000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
59889000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
7072000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6863000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5261000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5738000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5253000
CY2020Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
327422
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
4800000 USD
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
14.61
CY2021Q1 us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
40435
CY2021Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
286987
CY2020Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2021Q3 nref Noncontrolling Interest Shares Redeemed
NoncontrollingInterestSharesRedeemed
1479132
CY2021Q3 nref Stock Issued During Period Shares Conversion Of Redeemable Noncontrolling Interests
StockIssuedDuringPeriodSharesConversionOfRedeemableNoncontrollingInterests
1479132
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13233000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2862000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
27142000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1779000 USD
CY2021Q3 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
11084000 USD
CY2020Q3 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
7805000 USD
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
32747000 USD
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
5293000 USD
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
24317000 USD
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
440000
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
289000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
446000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
126000
us-gaap Temporary Equity Net Income
TemporaryEquityNetIncome
32747000 USD
us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
32393000 USD
nref Distributions To Redeemable Noncontrolling Interests On Operating Partnership
DistributionsToRedeemableNoncontrollingInterestsOnOperatingPartnership
17032000 USD
CY2021Q3 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
258992000 USD
nref Weighted Average Number Of Diluted Shares Outstanding Including Op Unit Effect
WeightedAverageNumberOfDilutedSharesOutstandingIncludingOpUnitEffect
18444000
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.93
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.54
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.73
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.17
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.52
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.02
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
CY2020Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
275670000 USD
nref Contributions From Redeemable Noncontrolling Interests On Operating Partnership
ContributionsFromRedeemableNoncontrollingInterestsOnOperatingPartnership
0 USD
CY2021Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5022578
CY2021Q1 nref Common Stock And Partner Units Shares Outstanding
CommonStockAndPartnerUnitsSharesOutstanding
18809701
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5498980
CY2021Q2 nref Common Stock And Partner Units Shares Outstanding
CommonStockAndPartnerUnitsSharesOutstanding
19286103
CY2021Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
9162096
CY2021Q3 nref Common Stock And Partner Units Shares Outstanding
CommonStockAndPartnerUnitsSharesOutstanding
21470084
us-gaap Payment For Management Fee
PaymentForManagementFee
0 USD
CY2021Q3 nref Purchase Of Preferred Equity Purchase Amount
PurchaseOfPreferredEquityPurchaseAmount
50000000.0 USD
CY2021Q3 nref Purchase Of Preferred Equity Purchase Amount Option
PurchaseOfPreferredEquityPurchaseAmountOption
25000000.0 USD
CY2021Q3 nref Purchase Of Preferred Equity Amount Funded
PurchaseOfPreferredEquityAmountFunded
3000000.0 USD
CY2021Q3 nref Purchase Of Preferred Equity Funding Obligation
PurchaseOfPreferredEquityFundingObligation
72000000.0 USD
CY2021Q3 nref Preferred Units Distribution Rate
PreferredUnitsDistributionRate
0.100 pure

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