Lument Finance Trust, Inc. · NYSE:LFT
Lument Finance Trust — Q1 2025 Earnings Presentation
23 slides from Lument Finance Trust's earnings presentation, May 13, 2025
Slide 1: Lument Finance Trust Q1 2025 Earnings Supplemental
Lument Finance Trust Q1 2025 Earnings Supplemental May 2025
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the current views of Lument Finance Trust, Inc. (NYSE: LFT) (“LFT,” the “Com
Slide 3: Company Overview
Company Overview • The Company is an externally-managed real estate investment trust focused on investing in, financing and managing a portfolio of commercial real estate debt investments. • The Company is externally managed by Lument Investment Management, LLC, an affiliate of ORIX Corporation USA.
Slide 4: Q1 2025 Updates
Q1 2025 Updates • Q1 2025 GAAP net loss attributable to common stockholders of $0.03 per share of common stock. • Q1 2025 Distributable Earnings(1) of $0.08 per share of common stock. Financial • On March 19, 2025, the Company declared a cash dividend for the quarter of $0.08 per share of common sto
Slide 5: Q1 2025 Balance Sheet Summary
Q1 2025 Balance Sheet Summary Balance Sheet (thousands) March 31, 2025(1) Commercial mortgage loans held- for-investment (net of allowance $988,781 for credit losses) Cash and cash equivalents 63,520 Restricted cash(2) 1,002 Accrued interest receivable 5,562 Other assets(3) 2,652 Total assets $1,061
Slide 6: Q1 2025 Income Statement Summary
Q1 2025 Income Statement Summary GAAP Net Income to Three Months Distributable Earnings Three Months Summary Income Statement Ended March 31, Reconciliation Ended March 31, (thousands) 2025 (thousands) 2025 Net interest income $7,735 Net Income attributable to $(1,708) common stockholders Total othe
Slide 7: Earnings and Book Value Per Share of Common Stock
Earnings and Book Value Per Share of Common Stock Distributable Earnings(1) & Book Value Per Share of Common Dividends Per Share of Common Share Stock(2) $3.50 $3.48 $0.10 $0.10 $3.40 $0.09 $0.08 $0.08 $0.08 $0.08 $0.08 $3.29 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Distributa
Slide 8: Investment Portfolio
Investment Portfolio • On March 31, 2025, the Company owned a portfolio of floating-rate CRE loans with a carrying value of $1.0 billion. 91.7%(1) of the portfolio was invested in loans collateralized by multifamily assets. • The Company anticipates that it will continue to focus on investment oppor
Slide 9: Q1 2025 Loan Activity
Q1 2025 Loan Activity • The Company experienced $54.7 million of loan payoffs during the quarter. Portfolio Activity(2) Q4 Payoffs by Property Type(1) $1,048.8 $(54.7) $(5.7) $0.4 $988.2 $54.7 Q4 2024 Payoffs / Provision for Other Activity Q1 2025 Portfolio Sales Loan Losses Portfolio Multifamily, $
Slide 10: Portfolio Credit
Portfolio Credit • As of March 31, 2025, 89.3% of the Company’s portfolio was performing(1), with 59.9% of the portfolio rated “3” (Moderate Risk) or better. • Weighted average risk rating(2) of 3.5. • During the quarter, management applied a “5” risk-rating to seven loans with an aggregate principa
Slide 11: Q1 2025 Capital Structure Overview
Q1 2025 Capital Structure Overview • The Company does not currently utilize repurchase or warehouse facility financing and therefore is not subject to margin calls on any of its loan assets from repo or warehouse lenders. • Primary sources of financing include two secured financings (2021-FL1 CLO an
Slide 12: Net Interest Income Sensitivity to Shifts in Term SOFR
Net Interest Income Sensitivity to Shifts in Term SOFR • 100% floating-rate loan portfolio. • 100% of portfolio is indexed to 30-day term SOFR. Net Interest Income Per Share Floating-Rate Exposure(1) Sensitivity to Change in SOFR(4) $0.01 Floating Rate Net Exposure Assets(2) $1,011 $237 -$0.01 -$0.0
Slide 13: Appendix
Appendix fa] LUMENT
Slide 14: 3/31/2025 CRE Loan Portfolio Details
3/31/2025 CRE Loan Portfolio Details Closing Maturity Unpaid Principal Note Unamortized Initial Term As-Is LTV at # Loan Name Property Type City State Date Date Balance Spread Discount/Premium (months) Origination(1) 1 Loan 1 12/16/2021 1/3/2025 Multifamily Daytona Beach FL 51,375,000 3.16% 0 37 71.
Slide 15: 3/31/2025 CRE Loan Portfolio Details
3/31/2025 CRE Loan Portfolio Details Closing Maturity Unpaid Principal Note Unamortized Initial Term As-Is LTV at # Loan Name Property Type City State (1) Date Date Balance Spread Discount/Premium (months) Origination 31 Loan 31 6/15/2022 7/5/2025 Multifamily Denton TX 14,511,455 3.90% (1,827) 37 73
Slide 16: Consolidated Balance Sheets
Consolidated Balance Sheets 16
Slide 17: Consolidated Statement of Income
Consolidated Statement of Income 17
Slide 18: Detailed Walk of Allowance for Loan Losses
Detailed Walk of Allowance for Loan Losses 18
Slide 19: Reconciliation of Net Income to Distributable Earnings
Reconciliation of Net Income to Distributable Earnings For the Three Months Ended GAAP to Distributable Earnings Reconciliation Jun 30, 2024 Sep 30, 2024 Dec 31, 2024 Mar 31, 2025 Reconciliation of GAAP to non-GAAP Information Net income attributable to common stockholders $3,413,445 $5,095,684 $3,6
Slide 20: Detailed Walk of Capitalization as of 3/31/2025
Detailed Walk of Capitalization as of 3/31/2025 LFT Capitalization Reconciliation (in 000's) 3/31/2025 Total GAAP liabilities and stockholders' equity(1) $1,061,418 Adjustments for Capitalization ( - ) Accrued interest payable (2,487) ( - ) Dividends payable (5,187) ( - ) Fees and expenses payable t
Slide 21: Book Value Per Share of Common Stock as of 3/31/2025
Book Value Per Share of Common Stock as of 3/31/2025 Book Value Per Common Share (in 000's) Mar 31, 2025 Total stockholders’ equity $232,048 ( - ) Preferred equity(1) (60,000) ( - ) Non-controlling interest (100) Common equity $171,949 Shares outstanding 52,324,472 Book Value Per Share of Common Sto
Slide 22: Key Definitions
Key Definitions “Book Value Per Share of Common Stock” is calculated as: a) total stockholders’ equity computed in accordance with GAAP less the value of the issued and outstanding preferred stock at its stated liquidation preference of $25.00 per share, divided by b) the weighted average number of
Slide 23: May 2025
=| LUMENT May 2025