# Nexpoint Diversified Real Estate Trust: overview

NXDT · NYSE · CIK 1356115 · [Real estate](/sectors/real-estate.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/nxdt.md) · [Financials](/companies/nxdt/financials.md) · [Filings](/companies/nxdt/filings.md) · [Insiders](/companies/nxdt/insiders.md)

Latest reported revenue: [$19.3m](/filings/0001193125-26-350420.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 14, 2026 (XBRL us-gaap:Revenues, accession 0001193125-26-350420).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [22.2](/filings/0001628280-25-052132.md) | [25.9 d](/filings/0001193125-26-133271.md) | [29.1](/filings/0001193125-26-225400.md) | [21.0](/filings/0001193125-26-350420.md) | [17.5](/filings/0001628280-25-052132.md) | [18.4 d](/filings/0001193125-26-133271.md) | [22.9](/filings/0001193125-26-225400.md) | [19.3](/filings/0001193125-26-350420.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(26.8%)](/filings/0001628280-25-052132.md) | [3.6% d](/filings/0001193125-26-133271.md) | [19.0%](/filings/0001193125-26-225400.md) | [(0.6%)](/filings/0001193125-26-350420.md) | [(19.1%)](/filings/0001628280-25-052132.md) | [(18.8%) d](/filings/0001193125-26-133271.md) | [15.1%](/filings/0001193125-26-225400.md) | [10.9%](/filings/0001193125-26-350420.md) |
| Net margin | % | [(45.2%)](/filings/0001628280-25-052132.md) | [(34.0%) d](/filings/0001193125-26-133271.md) | [(118.0%)](/filings/0001193125-26-225400.md) | [(215.1%)](/filings/0001193125-26-350420.md) | [(78.4%)](/filings/0001628280-25-052132.md) | [(200.8%) d](/filings/0001193125-26-133271.md) | [(100.4%)](/filings/0001193125-26-225400.md) | [0.3%](/filings/0001193125-26-350420.md) |
| Diluted EPS | $ per share | [(0.25)](/filings/0001628280-25-052132.md) | not reported | [(0.80)](/filings/0001193125-26-225400.md) | [(0.99)](/filings/0001193125-26-350420.md) | [(0.29)](/filings/0001628280-25-052132.md) | not reported | [(0.46)](/filings/0001193125-26-225400.md) | [0.00](/filings/0001193125-26-350420.md) |
| Free cash flow | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY (2021-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: |
| Revenue | $m | not reported | [63.3](/filings/0001356115-25-000003.md) | [83.2](/filings/0001193125-26-133271.md) | [86.0](/filings/0001193125-26-133271.md) |
| Gross margin | % | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | [18.3%](/filings/0001356115-25-000003.md) | [(5.0%)](/filings/0001193125-26-133271.md) | [(1.6%)](/filings/0001193125-26-133271.md) |
| Net margin | % | not reported | [(192.6%)](/filings/0001356115-25-000003.md) | [(61.7%)](/filings/0001193125-26-133271.md) | [(151.4%)](/filings/0001193125-26-133271.md) |
| Diluted EPS | $ per share | not reported | [(3.26)](/filings/0001356115-25-000003.md) | [(1.28)](/filings/0001193125-26-133271.md) | [(2.81)](/filings/0001193125-26-133271.md) |
| Free cash flow | $m | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/nxdt/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [NEXPOINT ASSET MANAGEMENT, L.P.](/funds/1469877.md) | 2026-06-30 | $28.5m | 5,481,827 |  | Added +116,717 |
| [RAYMOND JAMES FINANCIAL INC](/funds/720005.md) | 2026-06-30 | $21.6m | 4,166,954 |  | Added +1,011,612 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $17.3m | 3,327,599 |  | Added +201,350 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $11.6m | 2,243,416 |  | Reduced −288,951 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $8.5m | 1,646,158 |  | Reduced −62,290 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $5.4m | 1,034,651 |  | Added +34,939 |
| [Matisse Capital](/funds/1668256.md) | 2026-06-30 | $4.8m | 923,630 |  | Added +19,790 |
| [TCW GROUP INC](/funds/850401.md) | 2026-06-30 | $4.8m | 923,518 |  | Added +55,997 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $4.5m | 872,223 |  | Reduced −30,906 |
| [OPPENHEIMER & CO INC](/funds/822581.md) | 2026-06-30 | $2.2m | 427,148 |  | Added +65,886 |

## Recent filings

[All 884 filings](/companies/nxdt/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-08-14 | 07:45 ET | [10-Q](/filings/0001193125-26-350420.md) | Quarterly report, period 2026-06-30 | 0001193125-26-350420 |
| 2026-06-02 | 16:26 ET | [8-K](/filings/0001437749-26-019172.md) | 5.02 Departure or appointment of officers or directors; 5.07 Shareholder vote results; 9.01 Financial statements and exhibits | 0001437749-26-019172 |
| 2026-05-15 | 08:21 ET | [10-Q](/filings/0001193125-26-225400.md) | Quarterly report, period 2026-03-31 | 0001193125-26-225400 |
| 2026-04-20 | 08:04 ET | [DEF 14A](/filings/0001437749-26-012769.md) | Proxy statement, period 2026-06-02 | 0001437749-26-012769 |
| 2026-04-03 | 16:24 ET | [8-K](/filings/0001437749-26-011260.md) | 1.01 Entry into a material agreement | 0001437749-26-011260 |
| 2026-03-31 | 07:10 ET | [10-K](/filings/0001193125-26-133271.md) | Annual report, period 2025-12-31 | 0001193125-26-133271 |
| 2026-03-30 | 17:34 ET | [8-K](/filings/0001437749-26-010338.md) | 1.01 Entry into a material agreement; 9.01 Financial statements and exhibits | 0001437749-26-010338 |
| 2026-02-19 | 17:13 ET | [8-K](/filings/0001437749-26-004746.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation | 0001437749-26-004746 |
| 2026-01-21 | 18:00 ET | [SCHEDULE 13D/A](/filings/0001437749-26-001652.md) | Ownership report, active investor, amended | 0001437749-26-001652 |
| 2025-11-13 | 17:29 ET | [10-Q](/filings/0001628280-25-052132.md) | Quarterly report, period 2025-09-30 | 0001628280-25-052132 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001193125-26-133271.md), filed Mar 31, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/9904a8e2-42d7-4ba0-ae0f-bbd350ea3f34)

## About the filer

- CIK: 1356115
- Tickers: NXDT, NXDT-PA
- Exchange: NYSE
- SIC code: 6798 Real Estate Investment Trusts
- State of incorporation: DE
- Filer category: Non-accelerated filer<br>Smaller reporting company

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:37 ET. No prices; not investment advice.