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Lument Finance Trust Inc. (LFT+1.16%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing a net income attributable to common stockholders of $17.9 million, or $0.34 per share. This is an increase from $14.97 million, or $0.29 per share, in the previous year.
The company declared aggregate quarterly common dividends of $16.2 million, or $0.31 per share, in addition to a special dividend of $4.7 million, or $0.09 per share.
Lument Finance Trust's book value per share was reported at $3.40 as of December 31, 2024, a slight decrease from $3.46 in the previous year.
The company's investment activity for 2024 included the acquisition of three loans with an initial unpaid principal balance of $58.4 million and a weighted average interest rate of 30-day term SOFR plus 3.35%.
The company experienced $391.0 million in loan payoffs, resulting in net repayments of $332.6 million.
As of December 31, 2024, the company's mortgage loan investment portfolio consisted of 65 senior secured floating rate loans with an aggregate unpaid principal balance of $1.1 billion.
The filing also details the company's financing strategy, which involves leveraging its portfolio investments through borrowings under collateralized loan obligations and secured financings.
Lument Finance Trust's assets were financed with match term, non-recourse CRE CLO and secured financings, and one senior corporate credit facility.
The company continues to focus on investing in transitional floating rate CRE mortgage loans with an emphasis on middle-market multifamily assets.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Lument Finance Trust Inc. annual 10-K report dated March 19, 2025. To report an error, please email earnings@qz.com.