Positioning no disclosures inside 60 days, left as found
Options put/call open interest 22.40, read 2026-11-04
Ethical does not pass the values gate
Price13.59 USD
Fair value15.77
Ethical score70.0/100
Value readFairas of 5 Nov 2026
Our investment reviews on this name
2026-10-31Read Markup15.61-12.9% to today Distribution gives way to Markup first Markup read since September
2026-10-24Read Distribution15.12-10.1% to today ✓Markdown gives way to Distribution
2026-10-17Read Markdown15.12-10.1% to today ✓Distribution gives way to Markdown after a 7% slide in 2 weeks
2026-10-02Read Distribution16.30-16.6% to today ✓Markup gives way to Distribution with volume flow in agreement
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
NexPoint Real Estate Finance Inc holds its Distribution at $13.59. Consolidating, no directional conviction, held for 7 days.
As held on the ledger · 2026-11-05
Phase
Distribution · caution
Quantitative state
Consolidating, no directional conviction, held for 7 days
Price at the screen
$13.59
Valuation
6.34 trailing · 9.14 forward price to earnings
Values screen
FAIL· score 70.0
Beta
1.16
The Workings
Five Screens, Shown in Full
Does not pass. Business activity: conventional financial services
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Its core business involves an activity the values screen does not clear.
Fail
Debt load
79.00%
Below 33%
Interest-bearing debt is 79.0% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
3.89%
Below 33%
Cash held in interest-bearing accounts and securities is 3.9% of assets, under the one-third limit.
Pass
Receivables
1.60%
Below 49%
Money owed to the company is 1.6% of assets, under the 49% limit.
Pass
Revenue purity
51.26%
Below 5%
51.3% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
NexPoint Real Estate Finance does not clear the screen at the business-activity stage. It operates in conventional financial services, which the screen treats as interest-based, so the financial ratios are not the deciding factor here.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when NREF's ethical verdict changes
Today NREF does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Fair vs our fair value, as of 5 Nov 2026: it trades at roughly a 7% discount to our $15.77 fair value, none competitive moat.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. A 13.8% discount to the base estimate.
Where our models see it going: fair-value estimate $15.77, with a range of $14.27 to $23.18, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Why it is worth knowing
A quality business: a none moat and 67% profit margins. It trades close to our $15.77 fair value, so the easy discount is gone; you would be paying up for the quality.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
NREF trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-31Markup · changed$15.61+3.2%Entry 9
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 3.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 14%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (2 analysts) rates it hold, with a mean price target of $15.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 14%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (2 analysts) rates it hold, with a mean price target of $15.
2026-10-17Markdown · changed$15.12-7.2%Entry 7
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 7.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading overbought. Over the past year the shares are up 14%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (2 analysts) rates it hold, with a mean price target of $15.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 3.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading overbought. Over the past year the shares are up 14%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (2 analysts) rates it hold, with a mean price target of $15.
2026-09-08Markup$16.91+0.0%Entry 5
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading overbought. Over the past year the shares are up 14%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (2 analysts) rates it hold, with a mean price target of $15.
2026-08-07Markup · changed$16.91+6.6%Entry 4
The framework has shifted from accumulation to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 6.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading overbought. Over the past year the shares are up 14%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (2 analysts) rates it hold, with a mean price target of $15.
2026-07-18Accumulation$15.87+0.0%Entry 3
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading overbought. Over the past year the shares are up 14%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (2 analysts) rates it hold, with a mean price target of $15.
2026-07-03Accumulation$15.87+0.0%Entry 2
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Accumulation$15.87Entry 1
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.