LFT on NYSE
Lument Finance Trust, Inc.
American real estate investment trust based in New York, listed on NYSE (LFT)2
In its 2026 annual report the company says: “We are a REIT focused on investing in, originating, financing and managing a portfolio of commercial real estate debt investments. We primarily invest in or originate transitional floating rate CRE mortgage loans with an emphasis on middle-market multifamily assets. We may also invest in other CRE-related investments including mezzanine loans, preferred equity, commercial mortgage-backed securities, fixed rate loans, construction loans and other CRE debt instruments.”5
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Last updated Oct 20, 2026.
Overview
- TickerLFT on NYSE2
- IndustryReal Estate Investment Trusts2
- HeadquartersNew York, United States2
- Incorporated inMD3
- Business address230 Park Avenue, 23Rd Floor, New York, Ny 101693
- Filer categoryNon-accelerated filer, Smaller reporting company3
- Legal formCORPORATION2
- LEI5493002OB7SJ4MVQY6662
- StatusActive2
- LEI statusLapsed (not renewed)2
- Registered addressC/O NATIONAL REGISTERED AGENTS, INC. OF MD., 21093-2252 Lutherville Timonium, United States2
- Registered withBusiness Services (Maryland Department of Assessments and Taxation), D146020152
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References herein to "Lument Finance Trust," "Company," "LFT," "we," "us," or "our" refer to Lument Finance Trust, Inc., a Maryland corporation, and its subsidiaries unless the context specifically requires otherwise.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.11
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Commercial mortgage loans held-for-investment | $76.7M | $119.4M |
| Cash and cash equivalents | $2.3M | $2.7M |
| Securitized debt obligations | -$47.6M | -$77.0M |
| Secured financing agreements | -$2.3M | $0 |
| Secured term loan | -$4.0M | -$3.8M |
| Net interest income | $25.1M | $41.4M |
| Management and incentive fees | $4.6M | $6.6M |
| General and administrative expenses | $3.9M | $4.4M |
| Operating expenses reimbursable to Manager | $1.7M | $1.8M |
| Other operating expenses | $1.8M | $234.5K |
| Compensation expense | $445.0K | $445.0K |
| Total expenses | $12.5M | $13.5M |
| Provision for credit losses | -$14.4M | -$5.3M |
| Net income (expense) from real estate owned operations | -$472.0K | $0 |
| Change in unrealized (loss) on mortgage servicing rights | -$95.0K | -$42.7K |
| Realized (loss) on sale of real estate owned | -$547.4K | $0 |
| Servicing income, net | $177.0K | $137.2K |
| Total other (loss) | -$15.3M | -$5.2M |
| Net (loss) income before provision for income taxes | -$2.7M | $22.7M |
| (Provision for) income taxes | -$8.2K | -$18.8K |
| Net (loss) income | -$2.7M | $22.6M |
| Dividends to preferred stockholders | -$4.7M | -$4.7M |
| Net (loss) income attributable to common stockholders | -$7.5M | $17.9M |
| Net (loss) income attributable to common stockholders (diluted) | -$7.5M | $17.9M |
| Weighted average number of shares of common stock outstanding - basic (in shares) | 52.3M shares | 52.3M shares |
| Weighted average number of shares of common stock outstanding - diluted (in shares) | 52.3M shares | 52.3M shares |
| Basic (loss) income per share (in dollars per share) | -$0.14 | $0.34 |
| Diluted (loss) income per share (in dollars per share) | -$0.14 | $0.34 |
| Dividends declared per weighted average share of common stock (in dollars per share) | $0.22 | $0.40 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.11
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $23.1M | $69.2M | |
| Restricted cash | $3.5M | $2.4M | |
| Commercial mortgage loans held-for-investment, at amortized cost | $1.1B | $1.1B | |
| Allowance for credit losses | -$22.7M | -$11.3M | |
| Commercial mortgage loans held-for-investment, net of allowance for credit losses | $1.1B | $1.0B | |
| Real estate owned, held-for-investment, net | $26.8M | $0 | |
| Real estate owned, held-for-sale | $24.1M | $0 | |
| Mortgage servicing rights, at fair value | $554.2K | $649.3K | |
| Accrued interest receivable | $5.4M | $5.9M | |
| Investment related receivable | $15.4M | $0 | |
| Other assets | $2.9M | $1.6M | |
| Total assets | $1.2B | $1.1B | |
| Securitized debt obligations, net | $748.4M | $828.4M | |
| Secured financing agreements, net | $191.9M | $0 | |
| Secured term loan, net | $47.7M | $47.5M | |
| Accrued interest payable | $1.9M | $2.7M | |
| Dividends payable | $3.1M | $9.9M | |
| Fees and expenses payable to Manager | $1.4M | $1.6M | |
| Other liabilities | $2.4M | $672.8K | |
| Total liabilities | $996.9M | $890.7M | |
| Preferred Stock: par value $0.01 per share; 50,000,000 shares authorized; 7.875% Series A Cumulative Redeemable, $60,000,000 aggregate liquidation preference, 2,400,000 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | $57.3M | $57.3M | |
| Common Stock: par value $0.01 per share; 450,000,000 shares authorized, 52,399,265 and 52,309,209 shares issued and outstanding, at December 31, 2025 and December 31, 2024, respectively | $524.0K | $523.1K | |
| Additional paid-in capital | $314.9M | $314.7M | |
| Cumulative distributions to stockholders | -$221.0M | -$204.7M | |
| Accumulated earnings | $67.3M | $70.0M | |
| Total stockholders' equity | $219.0M | $237.8M | |
| Noncontrolling interests | $99.5K | $99.5K | |
| Total equity | $219.1M | $237.9M | $240.8M |
| Total liabilities and equity | $1.2B | $1.1B | |
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | |
| Preferred stock, shares authorized (in shares) | 50.0M shares | 50.0M shares | |
| Preferred stock, liquidation preference, value | $60.0M | $60.0M | |
| Preferred stock, shares issued (in shares) | 2.4M shares | 2.4M shares | |
| Preferred stock, shares outstanding (in shares) | 2.4M shares | 2.4M shares | |
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | |
| Common stock, shares authorized (in shares) | 450.0M shares | 450.0M shares | |
| Common stock, shares issued (in shares) | 52.4M shares | 52.3M shares | |
| Common stock, shares outstanding (in shares) | 52.4M shares | 52.3M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $23.1M | $69.2M | |
| Restricted cash | $3.5M | $2.4M | |
| Commercial mortgage loans held-for-investment, at amortized cost | $1.1B | $1.1B | |
| Allowance for credit losses | -$22.7M | -$11.3M | |
| Commercial mortgage loans held-for-investment, net of allowance for credit losses | $1.1B | $1.0B | |
| Real estate owned, held-for-investment, net | $26.8M | $0 | |
| Real estate owned, held-for-sale | $24.1M | $0 | |
| Mortgage servicing rights, at fair value | $554.2K | $649.3K | |
| Accrued interest receivable | $5.4M | $5.9M | |
| Investment related receivable | $15.4M | $0 | |
| Other assets | $2.9M | $1.6M | |
| Total assets | $1.2B | $1.1B | |
| Securitized debt obligations, net | $748.4M | $828.4M | |
| Secured financing agreements, net | $191.9M | $0 | |
| Secured term loan, net | $47.7M | $47.5M | |
| Accrued interest payable | $1.9M | $2.7M | |
| Dividends payable | $3.1M | $9.9M | |
| Fees and expenses payable to Manager | $1.4M | $1.6M | |
| Other liabilities | $2.4M | $672.8K | |
| Total liabilities | $996.9M | $890.7M | |
| Preferred Stock: par value $0.01 per share; 50,000,000 shares authorized; 7.875% Series A Cumulative Redeemable, $60,000,000 aggregate liquidation preference, 2,400,000 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | $57.3M | $57.3M | |
| Common Stock: par value $0.01 per share; 450,000,000 shares authorized, 52,399,265 and 52,309,209 shares issued and outstanding, at December 31, 2025 and December 31, 2024, respectively | $524.0K | $523.1K | |
| Additional paid-in capital | $314.9M | $314.7M | |
| Cumulative distributions to stockholders | -$221.0M | -$204.7M | |
| Accumulated earnings | $67.3M | $70.0M | |
| Total stockholders' equity | $219.0M | $237.8M | |
| Noncontrolling interests | $99.5K | $99.5K | |
| Total equity | $219.1M | $237.9M | $240.8M |
| Total liabilities and equity | $1.2B | $1.1B | |
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | |
| Preferred stock, shares authorized (in shares) | 50.0M shares | 50.0M shares | |
| Preferred stock, liquidation preference, value | $60.0M | $60.0M | |
| Preferred stock, shares issued (in shares) | 2.4M shares | 2.4M shares | |
| Preferred stock, shares outstanding (in shares) | 2.4M shares | 2.4M shares | |
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | |
| Common stock, shares authorized (in shares) | 450.0M shares | 450.0M shares | |
| Common stock, shares issued (in shares) | 52.4M shares | 52.3M shares | |
| Common stock, shares outstanding (in shares) | 52.4M shares | 52.3M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.11
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net (loss) income | -$2.7M | $22.6M |
| Accretion of commercial mortgage loans held-for-investment discounts | -$1.9M | -$3.5M |
| Accretion of deferred loan fees | -$2.8M | -$737.8K |
| Amortization of deferred offering costs | $0 | -$34.0K |
| Amortization of deferred financing costs | $1.5M | $3.2M |
| Provision for credit losses | $14.4M | $5.3M |
| Depreciation and amortization | $779.3K | $0 |
| Loss on sale of real estate owned | $547.4K | $0 |
| Unrealized loss on mortgage servicing rights | $95.0K | $42.7K |
| Non-cash compensation expense | $190.0K | $147.4K |
| Accrued interest receivable | $517.6K | $2.6M |
| Other assets | -$1.2M | $621.2K |
| Accrued interest payable | -$828.1K | -$1.4M |
| Fees and expenses payable to Manager | -$145.7K | -$13.7K |
| Other liabilities | $1.7M | -$1.7M |
| Net cash provided by operating activities | $10.1M | $27.1M |
| Purchase and funding of commercial mortgage loans held-for-investment | -$403.8M | -$58.4M |
| Purchase of real estate owned | -$748.1K | $0 |
| Principal payments from commercial mortgage loans held-for-investment | $251.5M | $391.0M |
| Proceeds from sale of real estate owned | $8.2M | $0 |
| Restricted cash assumed from acquisition of real estate owned | -$1.5M | $0 |
| Capital expenditures on real estate owned, held-for-investment | $1.1M | $0 |
| Deferred loan fees | $2.4M | $1.5M |
| Net cash provided by (used in) investing activities | -$142.9M | $334.1M |
| Dividends paid on common stock | -$18.3M | -$15.7M |
| Dividends paid on preferred stock | -$4.7M | -$4.7M |
| Proceeds from secured financing agreements | $451.0M | $0 |
| Proceeds from securitized debt obligations | $585.0M | $0 |
| Payment of secured financing agreements | -$256.8M | $0 |
| Payment of securitized debt obligations | -$661.0M | -$320.8M |
| Payment of deferred financing costs | -$7.2M | $0 |
| Net cash (used in) provided by financing activities | $87.9M | -$341.2M |
| Net increase in cash, cash equivalents and restricted cash | -$44.9M | $20.0M |
| Cash paid for interest | $53.2M | $79.0M |
| Dividends declared but not paid at end of period | $3.1M | $9.9M |
| Transfer of senior loans to real estate owned, held-for-investment | $25.9M | $0 |
| Transfer of senior loans to real estate owned, held-for-sale | $32.4M | $0 |
| Accrued capital expenditures on real estate owned | $38.5K | $0 |
| Debt issuance costs incurred but not paid at end of period | $169.8K | $0 |
No quarter-by-quarter statement was filed.
Corporate structure
Lument Finance Trust, Inc. sits at the top of its group. 15 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Lument Finance Trust, Inc.
- AXA Filed SCHEDULE 13D/A on Lument Finance Trust, Inc., latest Sep 11, 2026
- Blue Owl Capital Filed SCHEDULE 13G on Lument Finance Trust, Inc., latest Feb 14, 2025
- Kuvare Insurance Services LP Filed SC 13G/A on Lument Finance Trust, Inc., latest Feb 14, 2024 (3 filings since Feb 14, 2022)
- OREC Investment Holdings, LLC Filed SC 13D/A on Lument Finance Trust, Inc., latest Apr 29, 2022 (2 filings since Feb 25, 2022)
- HUNT COMPANIES EQUITY HOLDINGS, LLC Filed SC 13D/A on Lument Finance Trust, Inc., latest Feb 25, 2022
- XL Bermuda Ltd Filed SC 13D/A on Lument Finance Trust, Inc., latest Feb 24, 2022
- Lument Finance Trust, Inc. New York, New York, United States
- Five Oaks Acquisition Corp. Subsidiary · Delaware, United States
- LCMT REO I Corp. Subsidiary · Maryland, United States
- LFT CRE 2021-FL1 Advances, LLC Subsidiary · Delaware, United States
- LFT CRE 2021-FL1 Preferred, LLC Subsidiary · Delaware, United States
- LFT CRE 2021-FL1 Seller, LLC Subsidiary · Delaware, United States
- LFT CRE 2021-FL1, LLC Subsidiary · Delaware, United States
- LMF 2023-1 Holder, LLC Subsidiary · Delaware, United States
- LMF 2023-1, LLC Subsidiary · Delaware, United States
- Lument CMT Equity, LLC Subsidiary · Delaware, United States
- Lument CMT Finance, LLC Subsidiary · Delaware, United States
- Lument Commercial Mortgage Trust Subsidiary · Maryland, United States
- Oaks Funding II, LLC Subsidiary · Delaware, United States
- Oaks Funding, LLC Subsidiary · Delaware, United States
- Oaks Holding I, LLC Subsidiary · Delaware, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Lument Finance Trust, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Real estate and locations
| Item | Latest | A year before | Change |
|---|---|---|---|
| Real estate properties | 311 Dec 31, 2025 |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $23.1M11 Dec 31, 2025 | $69.2M11 Dec 31, 2024 | −66.6% |
| Loans, net of allowance | $1.1B11 Dec 31, 2025 | $1.0B11 Dec 31, 2024 | +6.2% |
Properties, in its own words
We maintain our corporate headquarters at 230 Park Avenue, 20th Floor, New York, NY 10169 in office space furnished to us by our Manager. We reimburse our Manager under the Management Agreement between us for lease and other related expenses incurred in furnishing us with our offices. We believe that our property is maintained in good condition and is suitable and adequate for our purposes. For an overview of our real estate investments, see Note 5 to our consolidated financial statements.
Item 2 of the 10-K filed Mar 23, 2026.5
Leadership
Who has led Lument Finance Trust, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
201520202025
- Chief executive officerJames Peter Flynn Jan 29, 2018 to now14
- PresidentMichael P. Larsen Jan 29, 2018 to Feb 15, 202215
- Chief financial officerJames A. Briggs Sep 11, 2018 to now16
- Chief financial officerDavid Oston Mar 21, 2013 to Feb 27, 201717
Board members and other officers (7)
- Chief Investment OfficerKian Fui (paul) Chong Mar 21, 2013 to Feb 27, 201718
- Board memberJames Christopher Hunt Jan 29, 2018 to now19
- Board memberWalter C. Keenan Apr 24, 2015 to now20
- Board memberDavid Oston Mar 21, 2013 to Feb 27, 201717
- Board memberWilliam A. Houlihan Mar 25, 2013 to now21
- Board memberNeil A. Cummins Mar 27, 2013 to now22
- Board memberThomas M. Pearce Jr. Mar 27, 2013 to Aug 19, 201523
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Five Oaks Acquisition Corp. Delaware4
- LCMT REO I Corp. Maryland4
- LFT CRE 2021-FL1 Advances, LLC Delaware4
- LFT CRE 2021-FL1 Preferred, LLC Delaware4
- LFT CRE 2021-FL1 Seller, LLC Delaware4
- LFT CRE 2021-FL1, LLC Delaware4
- LFT CRE 2021-FL1, Ltd. Cayman Islands4
- LMF 2023-1 Holder, LLC Delaware4
- LMF 2023-1, LLC Delaware4
- Lument CMT Equity, LLC Delaware4
- Lument CMT Finance, LLC Delaware4
- Lument Commercial Mortgage Trust Maryland4
- Oaks Funding II, LLC Delaware4
- Oaks Funding, LLC Delaware4
- Oaks Holding I, LLC Delaware4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
Timeline
- Oct 6, 20268-K Other events24
- Sep 14, 20268-K Bylaws or fiscal year changed; Regulation FD disclosure25
- Aug 13, 20268-K Results of operations; Regulation FD disclosure26
- Jul 30, 20268-K Listing notice or transfer; Regulation FD disclosure27
- Jun 12, 20268-K Shareholder vote; Regulation FD disclosure28
- May 20, 20268-K Results of operations29
- Mar 23, 20268-K Results of operations; Regulation FD disclosure30
- Feb 23, 20268-K Entered a material agreement; New debt or obligation31
- Dec 16, 20258-K Entered a material agreement; New debt or obligation; Regulation FD disclosure32
- Nov 28, 20258-K Entered a material agreement; Regulation FD disclosure33
- Nov 12, 20258-K Results of operations34
- Nov 7, 20258-K Entered a material agreement; New debt or obligation35
- Jan 29, 2018New chief executive James Peter Flynn becomes CEO14
Calendar
Coming up
- Nov 11, 2026Reports results for the quarter ending Sep/202636
When it reported results
- Aug 13, 2026Reported quarterly or annual results26
- May 20, 2026Reported quarterly or annual results29
- Mar 23, 2026Reported quarterly or annual results30
- Nov 12, 2025Reported quarterly or annual results34
- Aug 8, 2025Reported quarterly or annual results37
- May 12, 2025Reported quarterly or annual results38
- Mar 19, 2025Reported quarterly or annual results39
- Nov 12, 2024Reported quarterly or annual results40
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
200 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 50 major events, 104 insider forms, 9 large holders, 17 other. The latest 20:
- Oct 6, 20268-K EDGAR
- Sep 14, 20268-K EDGAR
- Sep 11, 2026SCHEDULE 13D/A EDGAR
- Aug 25, 20264 EDGAR
- Aug 25, 20264 EDGAR
- Aug 25, 20264 EDGAR
- Aug 25, 20264 EDGAR
- Aug 25, 20264 EDGAR
- Aug 21, 20264 EDGAR
- Aug 21, 20264 EDGAR
- Aug 20, 20264 EDGAR
- Aug 20, 20264 EDGAR
- Aug 13, 202610-Q EDGAR
- Aug 13, 20268-K EDGAR
- Jul 30, 20268-K EDGAR
- Jun 12, 20268-K EDGAR
- May 27, 20264 EDGAR
- May 27, 20264 EDGAR
- May 27, 20264 EDGAR
- May 22, 20264 EDGAR
The 200 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
53 open-market trades by officers, directors and large owners since October 2021: 52 buys and 1 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 24, 2026 | BRIGGS JAMES AChief Financial Officer | Buy | 20,000 | $0.69 | $13.8K | Form 4 |
| Aug 24, 2026 | Flynn James PeterCEO | Buy | 10,000 | $0.68 | $6.8K | Form 4 |
| Aug 21, 2026 | Flynn James PeterCEO | Buy | 20,000 | $0.68 | $13.6K | Form 4 |
| Aug 20, 2026 | Flynn James PeterCEO | Buy | 20,000 | $0.63 | $12.6K | Form 4 |
| Aug 20, 2026 | HOULIHAN WILLIAM ADirector | Buy | 20,000 | $0.62 | $12.4K | Form 4 |
| Aug 19, 2026 | Flynn James PeterCEO | Buy | 24,000 | $0.61 | $14.6K | Form 4 |
| Aug 18, 2026 | Flynn James PeterCEO | Buy | 20,000 | $0.61 | $12.2K | Form 4 |
| Aug 18, 2026 | HOULIHAN WILLIAM ADirector | Buy | 20,000 | $0.60 | $12.0K | Form 4 |
| May 21, 2026 | HOULIHAN WILLIAM ADirector | Buy | 10,000 | $1.19 | $11.9K | Form 4 |
| May 20, 2026 | HOULIHAN WILLIAM ADirector | Buy | 10,000 | $1.14 | $11.4K | Form 4 |
| Mar 27, 2026 | HOULIHAN WILLIAM ADirector | Buy | 5,000 | $1.30 | $6.5K | Form 4 |
| Mar 26, 2026 | Keenan Walter CDirector | Buy | 5,000 | $19.63 | $98.2K | Form 4 |
| Mar 26, 2026 | Keenan Walter CDirector | Buy | 1,500 | $19.50 | $29.2K | Form 4 |
| Mar 26, 2026 | Keenan Walter CDirector | Sale | 3,600 | $19.67 | $70.8K | Form 4 |
| Mar 26, 2026 | HOULIHAN WILLIAM ADirector | Buy | 15,000 | $1.29 | $19.4K | Form 4 |
| Dec 30, 2025 | Keenan Walter CDirector | Buy | 25,000 | $1.46 | $36.5K | Form 4 |
| Dec 19, 2025 | Keenan Walter CDirector | Buy | 9,205 | $1.49 | $13.7K | Form 4 |
| Dec 18, 2025 | Keenan Walter CDirector | Buy | 795 | $1.50 | $1.2K | Form 4 |
| Dec 1, 2025 | BRIGGS JAMES AChief Financial Officer | Buy | 10,000 | $1.61 | $16.1K | Form 4 |
| Nov 28, 2025 | BRIGGS JAMES AChief Financial Officer | Buy | 1,200 | $1.62 | $1.9K | Form 4 |
All 53 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- AXASCHEDULE 13D/A, 1 filing Sep 11, 202641
- Blue Owl CapitalSCHEDULE 13G, 1 filing Feb 14, 202542
- Kuvare Insurance Services LPSC 13G/A, 3 filings Feb 14, 2022 to Feb 14, 202443
- OREC Investment Holdings, LLCSC 13D/A, 2 filings Feb 25, 2022 to Apr 29, 202244
- HUNT COMPANIES EQUITY HOLDINGS, LLCSC 13D/A, 1 filing Feb 25, 202245
- XL Bermuda LtdSC 13D/A, 1 filing Feb 24, 202246
SEC filer profile
How Lument Finance Trust, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARLument Finance Trust, Inc.1
- CIK0001547546
- Employer ID (EIN)45-49665195
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
- Incorporated inMaryland5
- Fiscal year endsDecember 311
- Industry code (SIC)6798 Real Estate Investment Trusts1
- SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
- Business address230 Park Avenue, 23Rd Floor, New York, NY 101691
- Phone(212) 588-20511
- Shares outstanding52,486,129 as of Aug 10, 202613
- Public float$68.0M as of Jun 30, 20255
- AuditorKPMG LLP, New York, NY PCAOB ID 185; no auditor attestation of internal control over financial reporting5
- On EDGAR sinceMay 23, 20121
- Filings634 in all: 4 (204), 8-K (177), 10-Q (41), CORRESP (25), UPLOAD (16), 3 (15), SC 13D/A (14), 10-K (13)1
All 43 form types
DEF 14A (13), EFFECT (12), 424B5 (10), S-11/A (9), 10-Q/A (8), DEFA14A (8), FWP (7), S-3 (6), 10-K/A (5), SC 13G/A (5), 8-A12B (4), S-11 (4), 424B1 (3), ARS (3), S-3/A (3), SC 13D (3), SC 13G (3), 4/A (2), CERTNYS (2), D (2), POS AM (2), RW (2), 144 (1), 25-NSE (1), 3/A (1), 424B4 (1), CERT (1), DRS (1), DRSLTR (1), NT 10-K (1), NT 10-Q (1), S-11MEF (1), S-8 (1), SCHEDULE 13D/A (1), SCHEDULE 13G (1)
- Latest filingsAnnual report (10-K) Mar 23, 2026
Quarterly report (10-Q) Aug 13, 2026
Proxy statement (DEF 14A) Apr 30, 2026
Latest 8-K (8-K) Oct 6, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value $0.01 per share | LFT | New York Stock Exchange |
| 7.875% Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share | LFTPrA | New York Stock Exchange |
From the cover page of the 10-K filed Mar 23, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks Lument Finance Trust, Inc. names in Item 1A of its 10-K filed Mar 23, 2026: 74 risks under these headings, as written.5
- Risks Related to Our Investment Strategy and Our Businesses
- Risks Related to Financing and Hedging
- Risks Associated with Our Relationship with Our Manager
- Risks Related to Our Securities
- Risks Related to Our Organization and Structure
- Risks Related to Our Investment Strategies and Our Businesses
- We may not be able to operate our businesses successfully or generate sufficient revenue to make or sustain distributions to our stockholders.
- If we fail to develop, enhance and implement strategies to adapt to changing conditions in the mortgage industry and capital markets, our business, financial condition, results of operations and our ability to make distributions to our stockholders may be adversely affected.
- We may change our target assets, investment or financing strategies and other operational policies without stockholder consent, which may adversely affect our business, financial condition, results of operations and our ability to make distributions to our stockholders.
- Our portfolio of assets may be concentrated in terms of credit risk.
- Our floating-rate commercial mortgage loans are subject to various risks, such as interest rate risk, prepayment risk, real estate risk and credit risk.
- Transitional mortgage loans involve greater risk than conventional mortgage loans.
The other 68 risks
- Fluctuations in interest rates could reduce our ability to generate income on our loans and other investments, which could adversely affect our ability to acquire assets that satisfy our investment objectives and to generate income and make distributions to our stockholders.
- The timing of loan repayment is difficult to predict and may adversely affect our financial performance and cash flows.
- Difficulty in redeploying the proceeds from repayments of our existing loans and investments may cause our financial performance and returns to investors to suffer.
- We have in the past and may in the future acquire ownership of property securing our loans through foreclosure or deed-in-lieu foreclosure. When we take title to the property securing one of our loans, and if we do not or cannot sell the property, we own and operate the property as "real estate owned" or "REO." Our REO assets are subject to risks particular to real property. These risks may result in a reduction or elimination of, our return from, a loan secured by a particular property.
- The impact of any future terrorist attacks, the occurrence of a natural disaster, a significant climate change, health concerns regarding pandemic diseases or changes in laws and regulations expose us to certain risks.
- Lack of diversification in the number of assets we acquire would increase our dependence on relatively few individual assets.
- Investments in non-conforming and non-investment grade rated CRE loans or securities involve increased risk of loss.
- We may invest in transitional multifamily loans, CRE loans, CRE debt securities and other similar structured finance investments, which are secured by income producing properties. Such loans are typically made to single-asset entities, and the repayment of the loan is dependent principally on the net operating income from the performance and value of the underlying property. The volatility of income performance results and property values may adversely affect our transitional multifamily loans, CRE loans and CRE debt securities and similar structured finance investments.
- Our target assets may include CRE loans which are funded with interest reserves and borrowers may be unable to replenish such interest reserves once they run out.
- We may not have control over certain of our loans and investments.
- Changes in laws or regulations governing our operations, changes in the interpretation thereof or newly enacted laws or regulations and any failure by us to comply with these laws or regulations, could require changes to certain of our business practices, negatively impact our operations, cash flow or financial condition, impose additional costs on us, subject us to increased competition or otherwise adversely affect our business.
- Changes in laws or regulations governing the operations of borrowers could affect our returns with respect to those borrowers.
- Climate change, climate change-related initiatives and regulations and the increased focus on sustainability issues may adversely affect our business and financial results and damage our reputation.
- We may be subject to lender liability claims, and if we are held liable under such claims, we could be subject to losses.
- Our investments in CRE CLOs and other similar structured finance investments, as well as those we structure, sponsor or arrange, pose additional risks, including the risks of the securitization process and the risk that the special servicer, Lument Real Estate Capital, LLC ("LREC"), an affiliate of our Manager, may take actions that could adversely affect our interests.
- If the loans that we originate or acquire do not comply with applicable laws, we may be subject to penalties, which could materially and adversely affect us.
- If we are unable to implement and maintain effective internal controls over financial reporting in the future, investors may lose confidence in the accuracy and completeness of our financial reports and the market price of our common stock may be negatively affected.
- We depend on our accounting services provider for assistance with the preparation of our financial statements, access to appropriate accounting technology and assistance with portfolio valuation.
- We operate in a highly competitive market for investment opportunities and competition may limit our ability to acquire desirable investments in assets we target and could also affect the pricing of these securities.
- A prolonged economic recession and declining real estate values could impair our assets and harm our operations.
- The lack of liquidity in our investments may adversely affect our business.
- Our investment in CRE debt securities and other similar structured finance investments may be subject to losses.
- Increases in our CECL reserves have had and could continue to have an adverse effect on our business, financial condition and results of operations.
- CECL reserves are difficult to estimate.
- Our Manager's due diligence may not reveal all of the risks associated with such assets and may not reveal other weaknesses in such assets, which could lead to losses.
- Our Manager utilizes analytical models and data in connection with the valuation of certain of our assets, and any incorrect, misleading or incomplete information used in connection therewith would subject us to potential risks.
- Any credit ratings assigned to our investments will be subject to ongoing evaluations and revisions and we cannot assure you that those ratings will not be downgraded.
- We may be exposed to environmental liabilities with respect to properties to which we take title.
- The properties underlying our CRE loans may be subject to other unknown liabilities that could adversely affect the value of these properties, and as a result, our investments.
- We may be affected by deficiencies in foreclosure practices of third parties, as well as related delays in the foreclosure process.
- Insurance on mortgage loans and real estate securities collateral may not cover all losses.
- The allocation of the net proceeds of any equity offering among our target assets, and the timing of the deployment of these proceeds is subject to, among other things, then prevailing market conditions and the availability of target assets.
- Real estate valuation is inherently subjective and uncertain.
- We may invest in CMBS which are subordinate in right of payment to more senior securities.
- Changes in prepayment rates may adversely affect our profitability.
- We are highly dependent on communications and information systems. Systems failures could significantly disrupt our operations, which may, in turn, negatively affect the market price of our equity securities and our ability to make distributions.
- The occurrence of cyber-incidents, or a deficiency in our Manager's cybersecurity or those of any of our third-party service providers, could negatively affect our business by causing a disruption to our operations, a compromise of our confidential information or damage to our business relationships or reputation, all of which could negatively impact our business and results of operations.
- Social, political, and economic instability, unrest, and other circumstances beyond our control could adversely affect our business operations.
- Our strategy involves leverage, which may amplify losses, and there is no specific limit on the amount of leverage that we may use.
- We may incur significant additional debt in the future, which will subject us to increased risk of loss and may reduce cash available for distributions to our stockholders.
- There can be no assurance that our Manager will be able to prevent mismatches in the maturities of our assets and liabilities.
- Lenders generally require us to enter into restrictive covenants relating to our operations.
- We have financed, and may in the future seek to finance, CRE loans and investments through non-recourse secured financings, including CRE CLOs, and such transactions involve significant risks and expose us to losses.
- Our inability to meet certain financial covenants related to our credit agreements could adversely affect our business, financial condition and results.
- We have entered into, and may in the future enter into, repurchase agreements, and our rights under such repurchase agreements may be subject to effects of the bankruptcy laws in the event of the bankruptcy or insolvency of us or our counterparties under the repurchase agreements.
- Master repurchase agreements, credit facilities, or other financings that we use or may use in the future to finance our assets may require us to provide additional collateral or pay down debt.
- Interest rate fluctuations could increase our borrowing costs, which could lead to a significant decrease in our results of operations, cash flows and the market value of investments.
- We have utilized and may utilize in the future non-recourse securitizations to finance our loans and investments, which may expose us to risks that could result in losses.
- We may enter into hedging transactions that expose us to contingent liabilities in the future, which may adversely affect our financial results or cash available for distribution to stockholders.
- Hedging against interest rate exposure may adversely affect our earnings, which could reduce our cash available for distribution to our stockholders, and such transactions may fail to protect us from the losses that they were designed to offset.
- Our loans and investments may be subject to fluctuations in interest rates that may not be adequately protected, or protected at all, by our hedging strategies.
- Our board of directors has approved very broad investment guidelines for our Manager and will not approve each investment and financing decision made by our Manager.
- We are dependent on our Manager and its key personnel for our success.
- There are conflicts of interest in our relationship with our Manager, ORIX and ORIX affiliates that could result in decisions that are not in the best interests of our stockholders.
- The incentive fee payable to our Manager under the Management Agreement is payable quarterly and is based on our core earnings and, therefore, may cause our Manager to select investments in more risky assets to increase its incentive compensation.
- The Management Agreement with our Manager may be costly and difficult to terminate, including for our Manager’s poor performance.
- Our Manager’s liability is limited under the Management Agreement and we have agreed to indemnify our Manager and its affiliates against certain liabilities. As a result, we could experience poor performance or losses for which our Manager would not be liable.
- Our Manager is subject to extensive regulation as an investment adviser, which could adversely affect its ability to manage our business.
- Employee litigation and unfavorable publicity could negatively affect our future business.
- The market price and trading volume of our securities may vary substantially.
- Market factors unrelated to our performance could negatively impact the market price of our securities, and broad market fluctuations could also negatively impact the market price of our securities.
- The performance of our securities may be affected by the performance of our investments, which may be speculative and aggressive compared to other types of investments.
- An increase in interest rates may have an adverse effect on the market price of our stock and our ability to make distributions to our stockholders.
- We have not established a minimum distribution payment level on our common stock and we cannot assure you of our ability to make distributions in the future, or that our board of directors will not reduce distributions in the future regardless of such ability.
- Future offerings of debt or equity securities that rank senior to our common stock may adversely affect the market price of our common stock.
- Because of their significant ownership of our common stock, Lument Investment Holdings, LLC, an affiliate of our Manager, and the Hunt Investors have the ability to influence the outcome of matters that require a vote of our stockholders, including a change of control.
- Maintenance of our exclusion from the Investment Company Act will impose limits on our business; we have not sought formal guidance from the staff of the SEC as to our treatment of loans in securitization trusts and there can be no assurance that the staff will not adopt a contrary interpretation which could cause us to sell material amounts of our assets and to change our investment strategy.
- Our authorized but unissued shares of common and preferred stock may prevent a change in our control.
Legal proceedings
From time to time, we are or may become involved in various claims and legal actions arising in the ordinary course of business. As of December 31, 2025, we were not involved in any material legal proceedings.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 15SEC EDGARMichael P. Larsen, President
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- 17SEC EDGARDavid Oston, Chief financial officer
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- 19SEC EDGARJames Christopher Hunt, Board member
- 20SEC EDGARWalter C. Keenan, Board member
- 21SEC EDGARWilliam A. Houlihan, Board member
- 22SEC EDGARNeil A. Cummins, Board member
- 23SEC EDGARThomas M. Pearce Jr., Board member
- 24SEC EDGAROther events
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- 29SEC EDGARResults of operations
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- 34SEC EDGARResults of operations
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- 36NasdaqNasdaq calendar
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