NexPoint Diversified Real Estate Trust seeks to end Canadian reporting

DALLAS - NexPoint Diversified Real Estate Trust (NYSE:NXDT), a REIT with a market capitalization of approximately $200 million and an impressive dividend yield of nearly 14% according to InvestingPro, has applied to the Ontario Securities Commission for an order to cease being a reporting issuer in Canada, according to a press release statement issued Wednesday.

The application follows NXDT’s merger with NexPoint Hospitality Trust, which had initially made NXDT a reporting issuer in Canada. If approved, the company would no longer be required to file financial statements and other continuous disclosure documents under Canadian securities laws.

The decision would affect NXDT’s reporting status in Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland & Labrador, Nova Scotia, Ontario, Prince Edward Island and Saskatchewan.

NXDT emphasized that the change would not impact its listing on the New York Stock Exchange or its reporting obligations in the United States. Canadian resident security holders would continue to have access to all financial statements and disclosure documents required under U.S. securities laws.

The company stated that Canadian shareholders would still receive the same continuous disclosure documents delivered to U.S. shareholders, maintaining the same timing and delivery methods required under U.S. securities laws.

NXDT is an externally advised, publicly traded diversified REIT that focuses on acquiring, developing, and managing opportunistic and value-add investments across multiple sectors throughout the United States.

In other recent news, NexPoint Diversified Real Estate Trust has addressed typographical errors in its definitive proxy statement/prospectus ahead of its upcoming annual meeting of shareholders. The meeting will discuss proposals including the conversion of the company’s jurisdiction and form of organization from a Delaware statutory trust to a Maryland corporation. Additionally, there will be a vote on the approval of the Amended and Restated NexPoint Diversified Real Estate Trust 2023 Long Term Incentive Plan. Corrections were made to clarify the overhang rate, which is 4.2% on a fully diluted basis, excluding the impact of the new share request. If the new share request of 943,000 Old Common Shares is included, the overhang rate will be approximately 6.1% on a fully diluted basis. The corrected proxy statement has been mailed to shareholders, and they are encouraged to review it carefully as it contains important information about the meeting. Shareholders who have already voted do not need to take any action unless they wish to change their vote. The company’s filings, including amendments or supplements to the proxy statement, are accessible to shareholders free of charge on the SEC’s website and the company’s website.

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