NexPoint Real Estate Finance, Inc.

Good day and welcome to the NextPoint Real Estate Finance Q1 2022 conference call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Jackie Graham. Please go ahead.

Thank you. Good day, everyone, and welcome to NextPoint Real Estate Finance's conference call to review the company results for the first quarter ended March 31st, 2022. On the call today are Brian Mitts, Executive Vice President and Chief Financial Officer Matt Guest, Senior Vice President, Investments and Asset Management, and Paul Richards, Vice President, Originations and Investments. As a reminder, this call is being webcast through the company's website at nref.nextpoint.com. Before we begin, I would like to remind everyone that this conference call contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management's current expectations, assumptions, and beliefs. Listeners should not place undue reliance on any forward-looking statements and are encouraged to review the company's annual report on Form 10-K and the company's other filings with the SEC for a more complete discussion of risks and other factors that could affect the forward-looking statements. The statements made during this conference call speak only as of today's date and accept as required by law and rest does not undertake any obligation to publicly update or revise any forward-looking statements. This conference call also includes an analysis of non-GAAP financial measures. For a more complete discussion of these non-GAAP financial measures, see the company's presentation that was filed earlier today. I would now like to turn the call over to Brian. Please go ahead, Brian.

Thank you, Jackie. Appreciate everyone joining us this morning. I'll start the call by going through our results for the first quarter. I'll cover guidance briefly and then turn it over to the rest of the team for them to give a detailed commentary on the portfolio, some of the recent activity, and some of the things that we see ahead for the remainder of the year. For the first quarter, we reported net income of $0.81 per diluted share compared to net income of $1.26 per diluted share for the first quarter of 2021. $1.23 per diluted share for the first quarter compared to 43 cents per diluted share in the same period of 2021. We report a cash level for distribution of $1.58 cents per diluted share compared to 47 cents per diluted share in the first quarter of 2021. Book value per share increased 1.3% quarter-over-quarter and 7.1% year-over-year to $21.78. For the first quarter, we paid a dividend of 50 cents per share, and the board has declared a dividend of 50 cents per share for the second quarter. When we move to guidance for the second quarter, earnings available for distribution per deleted share we're guiding to 55 cents per share at the midpoint with a range of 50 cents to 60 cents. And for cash available for distribution per diluted share, we're guiding to 64 cents per share at the midpoint with a range of 59 cents to 69 cents. So with that, let me turn it over to the team to go through the portfolio and some of the recent activities.