Lument Finance Trust (LFT) Q3 2026 earnings summary

Executive summary

• Q3 GAAP net loss attributable to common stockholders was $13.508 million, or $2.57 per share; Distributable Loss was $0.685 million, or $0.13 per share.

• Credit-loss provisions and REO impairments weighed on results; common dividends were suspended, and investment focus remained on transitional floating-rate CRE loans, especially middle-market multifamily.

Financial highlights

• Q3 net interest income was $4.56 million versus $4.50 million in Q2 and $5.1 million in Q3 2025; Q3 other loss was $12.9 million.

• Q3 net loss attributable to common stockholders was $13.508 million versus net income of $0.7 million in Q3 2025; EPS was $(2.57) versus $0.13.

• 9M 2026 net loss was $23.68 million versus net income of $1.46 million in 9M 2025; EPS was $(4.51) versus $0.28, and net interest income was $14.76 million versus $19.75 million.

• Q3 provision for credit losses was $8.6 million and REO impairment expense was $3.9 million; 9M other loss included $16.49 million in provisions, $5.24 million in REO impairments and $1.15 million in debt-extinguishment loss.

• Distributable Loss reconciliation included $12.814 million of adjustments and a $9,231 tax adjustment; weighted-average shares outstanding were 5,252,331.

Portfolio and segment performance

• Loan portfolio carrying value was $952.1 million, 93.3% multifamily and 6.7% seniors housing and healthcare; 51 senior secured loans had $980.6 million unpaid principal, all floating-rate.

• Q3 fundings totaled $67.2 million, all multifamily; payoffs totaled $79.3 million, including $60.8 million multifamily and $18.6 million seniors housing and healthcare. Portfolio value declined from $991.7 million at Q2-end to $952.1 million at Q3-end.

• The portfolio had a 7.1% weighted-average coupon and a 1.5-year weighted-average remaining term; initial-term weighted average was 8 months, or 18 months if borrower extensions are exercised.

• Geographic concentrations included Texas at 19.0%, Florida at 14.7%, Georgia at 9.8%, New Jersey at 8.3% and Ohio at 8.2%.