The NexPoint Diversified Real Estate Trust is a closed-end fund managed by NexPoint Advisors, L.P. that is in the process of converting to a diversified REIT. On August 28, 2020, shareholders approved the conversion proposal and amended the Company’s fundamental investment policies and restrictions to permit the Company to pursue its new business. The Company is realigning its portfolio so that it is no longer an "investment company" under the Investment Company Act of 1940 (the "1940 Act"). On March 31, 2021, the Company filed an application (the "Deregistration Application") with the Securities and Exchange Commission (the "SEC") for an order under the 1940 Act declaring that the Company is no longer an investment company (the "Deregistration Order"). On September 13, 2021, the Company filed an amendment to the Deregistration Application, which provides additional information regarding the realignment of the Company’s portfolio. The Company will continue to be structured as a registered closed-end investment company until it receives the Deregistration Order; however, the Company has repositioned its portfolio sufficient to achieve REIT tax status and is operating during its 2021 taxable year so that it may qualify for taxation as a REIT. Effective November 8, 2021, NHF changed its name to NexPoint Diversified Real Estate Trust and is traded on the New York Stock Exchange under the ticker NXDT.
Company profile
Ticker
NXDT, NXDT-PA
Exchange
Website
CEO
James Dondero
Employees
Incorporated
Location
Fiscal year end
Industry
Industry (SIC)
Former names
Highland Credit Strategies Fund, NexPoint Credit Strategies Fund, NexPoint Strategic Opportunities Fund, Pyxis Credit Strategies Fund
SEC CIK
Corporate docs
Subsidiaries
Entegra-NHF Holdco, LLC • NexPoint Diversified Real Estate Trust OP GP, LLC • NexPoint Diversified Real Estate Trust Operating Partnership, L.P. • NexPoint Dominion Land, LLC • NexPoint Real Estate Capital, LLC • NexPoint Real Estate Opportunities, LLC • NHF TRS, LLC ...
NXDT stock data
Latest filings (excl ownership)
8-K
Entry into a Material Definitive Agreement
23 Apr 24
ARS
2023 FY
Annual report to shareholders
22 Apr 24
DEF 14A
Definitive proxy
22 Apr 24
10-K
2023 FY
Annual report
13 Mar 24
10-Q
2023 Q3
Quarterly report
14 Nov 23
8-K
Departure of Directors or Certain Officers
7 Nov 23
8-K
Entry into a Material Definitive Agreement
1 Sep 23
10-Q
2023 Q2
Quarterly report
14 Aug 23
8-K
Entry into a Material Definitive Agreement
30 Jun 23
8-K
Entry into a Material Definitive Agreement
15 Jun 23
Latest ownership filings
Funds
Series | Ticker | %Monthly Return ? | $Assets | #Holdings | As of | ||
---|---|---|---|---|---|---|---|
NexPoint Diversified Real Estate Trust | – | 1.18 bn | 62 | Jun 2022 |
Financial summary
Quarter (USD) | Sep 23 | Jun 23 | Mar 23 | Dec 22 | |
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Diluted EPS |
Annual (USD) | Dec 22 | |
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Revenue | ||
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 37.83 mm | 37.83 mm | 37.83 mm | 37.83 mm | 37.83 mm | 37.83 mm |
Cash burn (monthly) | 2.32 mm | 2.16 mm | 173.67 k | (no burn) | (no burn) | 1.22 mm |
Cash used (since last report) | 16.03 mm | 14.90 mm | 1.20 mm | n/a | n/a | 8.42 mm |
Cash remaining | 21.80 mm | 22.93 mm | 36.63 mm | n/a | n/a | 29.41 mm |
Runway (months of cash) | 9.4 | 10.6 | 210.9 | n/a | n/a | 24.1 |
Institutional ownership, Q3 2023
49.1% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 97 |
Opened positions | 12 |
Closed positions | 5 |
Increased positions | 42 |
Reduced positions | 29 |
13F shares | Current |
---|---|
Total value | 161.05 bn |
Total shares | 18.94 mm |
Total puts | 3.10 k |
Total calls | 49.50 k |
Total put/call ratio | 0.1 |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 3.24 mm | $28.18 bn |
Highland Capital Management Fund Advisors | 2.56 mm | $22.28 bn |
MS Morgan Stanley | 2.16 mm | $18.85 bn |
BLK Blackrock | 2.12 mm | $18.47 bn |
Thomas J. Herzfeld Advisors | 1.18 mm | $10.27 bn |
Wedbush Securities | 903.45 k | $7.85 bn |
Geode Capital Management | 760.98 k | $6.63 bn |
STT State Street | 487.94 k | $4.25 bn |
Stonehill Capital Management | 409.84 k | $3.56 bn |
Bokf, Na | 352.59 k | $2.78 bn |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
9 Apr 24 | Arthur B Laffer | Common Stock | Buy | Acquire P | Yes | No | 6.17 | 20,000 | 123.40 k | 88,276 |
8 Apr 24 | Arthur B Laffer | Common Stock | Buy | Acquire P | Yes | No | 6.12 | 20,000 | 122.40 k | 68,276 |
4 Apr 24 | Dondero James D | Common Stock | Option exercise | Acquire M | No | No | 0 | 46,916 | 0.00 | 4,207,129.188 |
4 Apr 24 | Dondero James D | Restricted Shares Units Common Shares | Option exercise | Dispose M | No | No | 0 | 46,916 | 0.00 | 140,756 |
4 Apr 24 | Catherine D Wood | Common Stock | Option exercise | Acquire M | No | No | 0 | 7,463 | 0.00 | 20,725 |
4 Apr 24 | Catherine D Wood | Restricted Shares Units Common Shares | Option exercise | Dispose M | No | No | 0 | 7,463 | 0.00 | 0 |
4 Apr 24 | Carol Swain | Common Stock | Option exercise | Acquire M | No | No | 0 | 7,463 | 0.00 | 7,463 |
4 Apr 24 | Carol Swain | Restricted Shares Units Common Shares | Option exercise | Dispose M | No | No | 0 | 7,463 | 0.00 | 0 |
4 Apr 24 | Dennis Charles Sauter Jr | Common Stock | Payment of exercise | Dispose F | No | No | 6.05 | 811 | 4.91 k | 1,677 |
4 Apr 24 | Dennis Charles Sauter Jr | Common Stock | Option exercise | Acquire M | No | No | 0 | 2,488 | 0.00 | 2,488 |
Press releases
Following Years of Governance Failures, Court Orders UDF IV to Hold Trustees Election in 2024
22 Apr 24
NexPoint Diversified Real Estate Trust Releases Investor Presentation
4 Apr 24
NexPoint Diversified Real Estate Trust Announces Record Date and Date of 2024 Annual Meeting of Shareholders
19 Mar 24
NexPoint Diversified Real Estate Trust Announces 2023 Dividend Income Tax Treatment
27 Feb 24
NexPoint Diversified Real Estate Trust Announces Quarterly Distribution
5 Feb 24