Nexpoint Real Estate Finance Inc

NexPoint Real Estate Finance reported second-quarter earnings available for distribution of $0.46 per diluted share, up from $0.43 a year earlier, while cash available for distribution reached $0.58 per share, covering its $0.50 dividend by 1.16 times. The board declared another $0.50-per-share dividend for the third quarter. The company closed a $375 million drawable term loan facility with Mizuho Capital Markets and used it to repay $180 million of maturing senior unsecured notes, replacing fixed-rate unsecured debt with floating-rate, asset-based financing. NexPoint guided third-quarter earnings available for distribution to a midpoint of $0.43 per share, below the second-quarter result, and noted improving residential leasing trends, with blended lease trade-outs turning positive by 30 basis points in July.