For preferred shareholders (LFT-PA), this is a routine quarterly filing with no credit-material change. The preferred dividend remains well-covered by Distributable Earnings; monitor the trajectory of book value and portfolio credit quality. No tradeable catalyst for the preferred on this report.
Price Chart
Executive Summary
Lument Finance Trust (LFT-PA) reported Q1 2026 GAAP net loss attributable to common stockholders of $0.02 per share and Distributable Earnings (the Street metric for this mREIT) of $0.02 per share. Book value per common share declined to $2.97 from $3.03 at year-end. The leverage ratio remained steady at 4.6x, and the portfolio's weighted average risk rating improved to 3.1. The preferred stock dividend of $0.49219 per share was maintained — no credit-material changes to the preferred's risk profile.
Key Financial Metrics
Key Facts
- Q1 2026 Distributable Earnings (Street EPS) of $0.02 per share, unchanged from Q4 2025's $0.00.
- Book value per common share fell to $2.97 from $3.03 as of 12/31/2025, a ~2% decline.
- Portfolio performing loans improved to 91.8% from 91.2% at year-end; weighted average risk rating improved to 3.1 from 3.2.
- Leverage ratio stable at 4.6x; common equity book value decreased slightly to $156.0M from $159.0M.
- Preferred dividend of $0.49219/share declared for Q1 2026, unchanged.
- Portfolio's floating-rate CRE loans, 92.6% multifamily; net interest income of $5.7M.
Financial Impact
No material credit event for the preferred. Distributable Earnings coverage of the preferred dividend remains adequate with $1.1M DE vs $1.18M in quarterly preferred dividends (2.4M shares × $0.49219).
Risk Factors
- Book value erosion continued for the 4th consecutive quarter (from $3.29 to $2.97), reducing equity cushion for the preferred.
- Seven loans rated 5 (highest risk) with $107.9M aggregate principal — elevated watch list.
- Weighted average remaining initial term of 8 months creates refinancing risk for the loan portfolio.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-064564 |
| Document: tm2615204d1_8k.htm | 0001104659-26-064564 |
| Document: tm2615204d1_ex99-1.htm | 0001104659-26-064564 |
| Document: 0001104659-26-064564-index-headers.html | 0001104659-26-064564 |
| Document: 0001104659-26-064564-index.html | 0001104659-26-064564 |
| Document: 0001104659-26-064564.txt | 0001104659-26-064564 |
| 8-K Data (Synthetic) | 0001104659-26-064564 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 19d ago | 8-K | $4.79 | awaiting T+20 | — | $4.22 (−11.90%) |
Sep 18, 2026 5w ago | Press Release | $5.60 $4.18 | ▲ +25.36% | ▲ +24.45% | $4.22 (+24.64%) |
Aug 13, 2026 10w ago | Press Release | $0.6597 $0.6550 | ▲ +0.71% | ▼ −1.28% | $4.22 (−539.68%) |
Aug 10, 2026 10w ago | Press Release | $0.7015 $0.6923 | ▼ −1.31% | ▼ −0.25% | $4.22 (+501.57%) |
Jul 30, 2026 12w ago | 8-K | $0.6599 $0.7418 | ▼ −12.41% | ▼ −9.42% | $4.22 (−539.49%) |
Jun 12, 2026 19w ago | 8-K | $1.05 $0.9336 | ▼ −11.09% | ▼ −10.34% | $4.22 (+301.90%) |
May 20, 2026 22w ago | 8-K | $19.51 $19.00 | ▼ −2.59% | ▼ −2.92% | $4.22 (−78.36%) |
Mar 26, 2026 30w ago | Insider Cluster | $1.22 $1.30 | ▲ +6.50% | ▼ −4.16% | $4.22 (+245.73%) |
Mar 26, 2026 30w ago | Insider Cluster | $1.22 $1.30 | ▲ +6.50% | ▼ −4.16% | $4.22 (+245.73%) |
Mar 26, 2026 30w ago | Insider Cluster | $1.22 $1.30 | ▲ +6.50% | ▼ −4.16% | $4.22 (+245.73%) |
US Market Status
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