InPoint Commercial (NYSE: ICR-PA) posts $13.4992 March 31 NAV

Rhea-AI Filing Summary

InPoint Commercial Real Estate Income, Inc. reports an aggregate net asset value (NAV) per share of $13.4992 as of March 31, 2026, based on total net asset value attributable to common stock of $136,612 thousand and 10,120 thousand outstanding common shares.

The NAV is supported mainly by $333,449 thousand in commercial mortgage loans, $99,764 thousand of real estate owned and $82,627 thousand of cash and cash equivalents, offset by financing such as $215,074 thousand of repurchase agreements and $88,313 thousand of preferred stock.

Class-level NAV per share on March 31, 2026 includes $13.4884 for Class P, $13.5351 for Class A, $13.6705 for Class T, $13.5645 for Class D and $13.5369 for Class I, reflecting slightly different fee and share characteristics.

Insights

REIT valuation analyst

InPoint updates March 31, 2026 NAV, showing a loan-heavy, moderately leveraged balance sheet.

InPoint Commercial Real Estate Income bases its NAV mainly on $333,449 thousand of commercial mortgage loans and $99,764 thousand of real estate owned as of March 31, 2026, plus substantial cash of $82,627 thousand. This highlights a portfolio focused on credit exposure to commercial real estate rather than direct property ownership alone.

The capital structure includes repurchase agreements on loans of $215,074 thousand, a mortgage loan payable of $23,978 thousand and preferred stock of $88,313 thousand. These obligations reduce common equity NAV to $136,612 thousand, with modest additional drag from accrued distributions, servicing fees and other liabilities.

Class-specific NAV per share ranges from $13.4884 to $13.6705, driven partly by differing stockholder servicing fees noted for Class T and Class D. Future company materials may further detail performance and portfolio changes affecting NAV beyond March 31, 2026.

8-K Event Classification

Item 8.01 — Other Events

1 item

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Key Figures

Total NAV attributable to common stock: $136,612 thousand Aggregate NAV per share: $13.4992 per share Commercial mortgage loans: $333,449 thousand +5 more

8 metrics

Total NAV attributable to common stock $136,612 thousand Aggregate net asset value attributable to all common stock classes as of March 31, 2026

Aggregate NAV per share $13.4992 per share NAV per share across all common stock classes as of March 31, 2026

Commercial mortgage loans $333,449 thousand Component of NAV attributable to commercial mortgage loans as of March 31, 2026

Real estate owned $99,764 thousand Component of NAV attributable to real estate owned as of March 31, 2026

Cash and cash equivalents $82,627 thousand Cash, cash equivalents and restricted cash included in NAV as of March 31, 2026

Repurchase agreements $215,074 thousand Repurchase agreements on commercial mortgage loans reducing NAV as of March 31, 2026

Preferred stock balance $88,313 thousand Preferred stock deducted in arriving at NAV attributable to common stock as of March 31, 2026

Common shares outstanding 10,120 thousand shares Total number of common shares outstanding used in NAV per share calculation on March 31, 2026

Key Terms

net asset value, commercial mortgage loans, real estate owned, preferred stock, +2 more

6 terms

net asset value financial

"The following table provides a breakdown of the major components of our total net asset value attributable to common stock as of March 31, 2026"

Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.

commercial mortgage loans financial

"Components of NAV ... Commercial mortgage loans | | $ | 333,449"

real estate owned financial

"Components of NAV ... Real estate owned | | | 99,764"

Real estate owned (REO) describes properties that a lender has taken ownership of after a borrower failed to keep up mortgage payments and the bank completed the repossession process. It matters to investors because REO shows up on a lender’s books as unsold inventory—affecting the lender’s financial health, cash flow and future profits—and presents buying opportunities or risks for real estate investors due to repair, holding, and resale costs.

preferred stock financial

"Components of NAV ... Preferred stock | | | (88,313 | )"

Preferred stock is a type of ownership in a company that typically offers investors higher and more consistent dividend payments than common stock. Unlike regular shares, preferred stock usually doesn’t come with voting rights but provides a priority claim on the company’s assets and profits, making it a more stable and predictable investment option. This makes preferred stock attractive to those seeking steady income with lower risk.

stockholder servicing fees financial

"Stockholder servicing fees only apply to Class T, Class S, and Class D shares."

GAAP financial

"Under GAAP, we accrued the full cost of the stockholder servicing fee as an offering cost at the time we sold Class T, Class S, and Class D shares."

GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Understanding 8-K Material Events →

Accepted by SEC EDGAR 04/15/2026 - 04:15 PM Learn about SEC filing dates

FAQ

What NAV per share did InPoint Commercial (ICR-PA) report on March 31, 2026?

InPoint reported an aggregate net asset value (NAV) per share of $13.4992 as of March 31, 2026. This figure is based on total net asset value attributable to common stock of $136,612 thousand and 10,120 thousand common shares outstanding.

How large was InPoint Commercial’s net asset value attributable to common stock?

Net asset value attributable to all classes of common stock totaled $136,612 thousand as of March 31, 2026. This amount reflects the value of commercial mortgage loans, real estate owned, cash, other assets and all related liabilities and preferred stock impacting common equity.

What are the main asset components of InPoint Commercial’s NAV as of March 31, 2026?

Key NAV components are $333,449 thousand in commercial mortgage loans, $99,764 thousand of real estate owned and $82,627 thousand in cash and cash equivalents. These assets, together with smaller other assets, form the base from which liabilities and preferred stock are deducted.

Which major liabilities and capital items reduce InPoint Commercial’s common stock NAV?

Major reductions include $215,074 thousand in repurchase agreements on commercial mortgage loans, $47,715 thousand of loan participations sold, a $23,978 thousand mortgage loan payable and $88,313 thousand of preferred stock, alongside smaller payables and accruals.

How does NAV per share differ among InPoint Commercial’s share classes?

As of March 31, 2026, NAV per share was $13.4884 for Class P, $13.5351 for Class A, $13.6705 for Class T, $13.5645 for Class D and $13.5369 for Class I. These small differences largely reflect class-specific fee and share structures.

How many common shares were outstanding for InPoint Commercial on March 31, 2026?

The company reported 10,120 thousand common shares outstanding as of March 31, 2026. Class-level counts included 8,563 thousand Class P shares, 746 thousand Class A, 290 thousand Class T, 48 thousand Class D and 473 thousand Class I shares.

false000169001200016900122026-04-152026-04-15

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 15, 2026

InPoint Commercial Real Estate Income, Inc.

(Exact name of Registrant as Specified in Its Charter)

Maryland			001-40833	32-0506267
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
2901 Butterfield Road
Oak Brook, Illinois				60523
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: (800) 826-8228

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
6.75% Series A Cumulative Redeemable Preferred Stock, par value $0.001 per share		ICR PR A		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

Determination of March 31, 2026 NAV per Share

InPoint Commercial Real Estate Income, Inc. (the “Company,” “we,” “our”) calculates net asset value (“NAV”) per share in accordance with the valuation guidelines that have been approved by its board of directors (the “Board”). Our NAV per share, which is updated as of the last calendar day of each month, is posted on our website at www.inland-investments.com/inpoint. The “Net Asset Value Calculation and Valuation Guidelines” section of the prospectus for our public offering (SEC Registration No. 333-264540), as supplemented, contains details regarding how our NAV is determined. Inland InPoint Advisor, LLC, our Advisor, is ultimately responsible for determining our NAV. We have included a breakdown of the components of total net asset value attributable to common stock and NAV per share for March 31, 2026.

Our total net asset value attributable to all classes of our common stock in the aggregate is presented in the following table. The following table provides a breakdown of the major components of our total net asset value attributable to common stock as of March 31, 2026 ($ and shares in thousands, except per share data):
 

Components of NAV		March 31, 2026
Commercial mortgage loans		$	333,449
Real estate owned			99,764
Cash and cash equivalents and restricted cash			82,627
Other assets			4,722
Repurchase agreements - commercial mortgage loans			(215,074	)
Loan participations sold			(47,715	)
Mortgage loan payable			(23,978	)
Due to related parties			(1,514	)
Distributions payable			(1,052	)
Interest payable			(2,950	)
Accrued stockholder servicing fees (1)			(280	)
Other liabilities			(3,074	)
Preferred stock			(88,313	)
Net asset value attributable to common stock		$	136,612
Number of outstanding shares			10,120
Aggregate NAV per share		$	13.4992

(1)Stockholder servicing fees only apply to Class T, Class S, and Class D shares. For purposes of NAV, we recognize the stockholder servicing fee as a reduction of NAV on a monthly basis as such fee is paid. Under GAAP, we accrued the full cost of the stockholder servicing fee as an offering cost at the time we sold Class T, Class S, and Class D shares. As of March 31, 2026, we had accrued under GAAP $645 of stockholder servicing fees payable to Inland Securities Corporation (the “Dealer Manager”) related to the Class T and Class D shares sold. As of March 31, 2026, we had not sold any Class S shares and, therefore, we had not accrued any stockholder servicing fees payable to the Dealer Manager related to Class S shares. The Dealer Manager does not retain any of these fees, all of which are retained by, or reallowed (paid) to, participating broker-dealers and servicing broker-dealers for ongoing stockholder services performed by such broker-dealers. Our public offering officially terminated on November 1, 2025.

The following table provides our total NAV attributable to common stock and NAV for each class of common stock in each case as of March 31, 2026 ($ and shares in thousands, except per share data):

NAV Per Share		Class P				Class A				Class T				Class S				Class D				Class I				Total
Net asset value attributable to common stock		$	115,499			$	10,096			$	3,969			$	—			$	651			$	6,401			$	136,612
Number of outstanding shares			8,563				746				290				—				48				473				10,120
NAV per share as of March 31, 2026		$	13.4884			$	13.5351			$	13.6705			$	—			$	13.5645			$	13.5369			$	13.4992

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			INPOINT COMMERCIAL REAL ESTATE INCOME, INC.
Date:	April 15, 2026	By:	/s/ Catherine L. Lynch
			Catherine L. Lynch Chief Financial Officer

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