Financial Performance - Net income attributable to common stockholders was $3.4 million, or $0.07 per share of common stock for Q2 2024[139] - Distributable Earnings for Q2 2024 were $4.8 million, or $0.09 per share of common stock[139] - The company announced a second quarter common dividend of $0.08 per share, a 14.3% increase from the previous quarter[139] - For the three months ended June 30, 2024, the company recorded earnings per share of $0.07, declared a quarterly dividend of $0.08 per share, and reported Distributable Earnings of $0.09 per share[148] - The total stockholders' equity as of June 30, 2024, was $242,095,526, with a book value per share of common stock at $3.48[155] - The company’s Distributable Earnings for the three months ended June 30, 2024, amounted to $4,822,392, compared to $7,578,321 for the previous quarter[154] - The company reported net income attributable to common stockholders of $3,413,445 for the three months ended June 30, 2024, compared to $1,389,185 for the same period in 2023, representing a significant increase[199] - For the six months ended June 30, 2024, net income attributable to common stockholders was $9,208,628, or $0.18 per share, compared to $5,970,918, or $0.11 per share, for the same period in 2023, representing a 54.5% increase in net income[207] Loan Portfolio and Financing - The senior loan portfolio totals $1.2 billion, with 100% floating rate and an average spread to 30-day term SOFR of 3.59%[139] - Multifamily assets represent 93.2% of the loan portfolio[139] - As of June 30, 2024, 99.9% of investments earned a floating rate of interest, all indexed to 30-day term SOFR[141] - 94.5% of performing loans have interest rate caps with a weighted-average strike price of 2.8%[143] - 97.3% of the commercial mortgage loans in the portfolio were current as to principal and interest as of June 30, 2024[145] - Non-mark-to-market financing was $1.0 billion as of June 30, 2024, representing 100% of secured financings[139] - The unpaid principal balance of commercial mortgage loans held-for-investment decreased from $1,397,385,160 as of December 31, 2023, to $1,201,753,001 as of June 30, 2024[158] - The balance of commercial mortgage loans held-for-investment at June 30, 2024, was $1,186,653,339, reflecting a decrease due to principal repayments[157] - The company reported total loan commitments of $1.2 billion as of June 30, 2024, with a weighted average risk rating of 3.6[175] - The company has experienced $98.2 million in loan payoffs during the reporting period[139] Revenue and Growth - The company reported a total revenue of $28,250,000 for October 18, 2021, compared to $24,252,193 for the same period last year, reflecting a growth of approximately 16.5%[1] - For April 27, 2022, the revenue increased to $54,470,000, up from $49,800,000, indicating a year-over-year growth of about 13.4%[3] - The company reported a total revenue of $14,886,485 for the latest quarter, reflecting a significant increase compared to previous periods[1] - Future outlook suggests a projected revenue increase of 5.9% for the upcoming quarter, driven by new product launches and market expansion strategies[1] - The company provided a future outlook, projecting a 3.5% increase in revenue for the next quarter, with expectations of reaching $13,750,000[163] - The company is planning to expand its market presence with new developments in healthcare, as indicated by the revenue of $21,135,000 reported for November 2022[22] Operational Efficiency and Cost Management - Total expenses decreased from $4,425,049 for the three months ended June 30, 2023, to $3,533,804 for the same period in 2024, indicating improved cost management[199] - The company aims to achieve a 6.5% reduction in operational costs through efficiency improvements and technology integration[1] - The company reported a 7.4% increase in operational efficiency due to new technology implementations[163] Credit Losses and Risk Management - The unrealized provision for credit losses was $1,399,703 for the three months ended June 30, 2024, compared to $1,776,873 for the previous quarter[154] - The specific allowance for credit losses is determined by comparing the estimated fair value of collateral to the amortized cost of the loan, requiring significant judgment[191] - The company recorded a specific allowance of $0.9 million for credit losses on a loan in Philadelphia, PA, with an unpaid aggregate principal value of $15.0 million[168] - As of June 30, 2024, there were no impaired loans, non-accrual loans, or loans in maturity default, except for specific loans requiring evaluation[166] Cash Flow and Liquidity - As of June 30, 2024, the company had unrestricted cash and cash equivalents of $65.1 million, an increase from $51.2 million as of December 31, 2023[216] - For the six months ended June 30, 2024, net cash provided by operating activities totaled $14.6 million, an increase from $10.1 million in the same period of 2023, representing a 44.5% growth[220] - Cash flows from investing activities for the six months ended June 30, 2024, amounted to $162.3 million, significantly higher than $51.0 million in 2023, indicating a 218.0% increase[221] - The company anticipates that net proceeds from prior equity sales, combined with cash flow from operations and available borrowing capacity, will be sufficient to meet short-term liquidity requirements[223] Dividends and Shareholder Returns - The company declared a cash dividend rate of $0.08 per share of common stock for the second quarter of 2024, paid on July 15, 2024[228] - The cash dividend rate for Series A Preferred Stock for the second quarter of 2024 was declared at $0.49219 per share, also paid on July 15, 2024[228] - The company plans to continue making regular quarterly distributions to common stockholders, adhering to REIT distribution requirements[227]

NEW YORK, Aug. 12, 2024 /PRNewswire/ -- Lument Finance Trust, Inc. (NYSE: LFT) ("we", "LFT" or "the Company") today reported its second quarter results. GAAP net income attributable to common shareholders for the second quarter was $3.4 million, or $0.07 per share of common stock. Distributable earnings for the second quarter were $4.8 million, or $0.09 per share of common stock. The Company has also issued a detailed presentation of its results, which can be viewed at www.lumentfinancetrust.com. Conference ...

NEW YORK, Aug. 6, 2024 /PRNewswire/ -- Lument Finance Trust, Inc. (NYSE: LFT) ("we,"; "LFT" or "the Company") announced today that it expects to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 with the Securities and Exchange Commission on Monday, August 12, 2024, after the market closes, and invites investors and other interested parties to listen to its live conference call via telephone or webcast on Tuesday, August 13, 2024 at 1:00 p.m. eastern time. The conference call may be ...

NEW YORK, June 13, 2024 /PRNewswire/ -- Lument Finance Trust, Inc. (NYSE: LFT) ("LFT" or the "Company") announced the declaration of a cash dividend of $0.08 per share of common stock with respect to the second quarter of 2024, which represents a 14% increase over the first quarter of 2024 dividend of $0.07 per share. The dividend is payable on July 15, 2024, to common stockholders of record as of the close of business on June 28, 2024. LFT is a Maryland corporation focused on investing in, financing and ma ...

[Company Overview](index=3&type=section&id=Company%20Overview) Lument Finance Trust (LFT) is an externally-managed REIT specializing in commercial real estate (CRE) debt investments [Company Profile and Strategy](index=3&type=section&id=Company%20Profile%20and%20Strategy) LFT is an externally-managed REIT focused on CRE debt investments, benefiting from strong sponsorship and a focus on middle-market multifamily assets - LFT is an externally-managed REIT focused on CRE debt investments, managed by Lument Investment Management LLC, an affiliate of ORIX Corporation USA[8](index=8&type=chunk) - Key investment strengths include strong sponsorship, access to a large loan origination platform, a focus on middle-market multifamily assets, and experienced management[7](index=7&type=chunk) - The company utilizes attractive financing sources, including matched-term, non-recourse, non-mark-to-market collateralized financing[7](index=7&type=chunk) [Q1 2024 Performance Highlights](index=4&type=section&id=Q1%202024%20Performance%20Highlights) LFT reported Q1 2024 GAAP net income of $0.11/share and Distributable Earnings of $0.15/share, with a stable $1.3 billion multifamily-focused portfolio [Q1 2024 Updates](index=4&type=section&id=Q1%202024%20Updates) LFT reported Q1 2024 GAAP net income of $0.11/share and Distributable Earnings of $0.15/share, with a $0.07/share dividend and a stable $1.3 billion multifamily portfolio Q1 2024 Financial Results | Metric | Value | | :--- | :--- | | GAAP Net Income per Share | $0.11 | | Distributable Earnings per Share | $0.15 | | Common Stock Dividend per Share | $0.07 | | Book Value per Share | $3.50 | - The investment portfolio **totaled $1.3 billion**, with **93.6%** collateralized by multifamily assets. The **weighted average risk rating remained stable at 3.5**[9](index=9&type=chunk) - The company experienced **$97.4 million** in loan payoffs during the quarter and recorded **no asset-specific reserves**[9](index=9&type=chunk) - As of March 31, 2024, the company **held $64.6 million in cash** and had a **leverage ratio of 4.7x**. There are **no corporate debt maturities until 2026**[9](index=9&type=chunk) [Q1 2024 Balance Sheet Summary](index=5&type=section&id=Q1%202024%20Balance%20Sheet%20Summary) As of March 31, 2024, total assets were $1.38 billion, primarily commercial mortgage loans, with total equity at $242.9 million and a leverage ratio of 4.7x Balance Sheet Summary (March 31, 2024) | Account | Amount (thousands) | | :--- | :--- | | **Assets** | | | Commercial mortgage loans, net | $1,285,479 | | Cash and cash equivalents | $64,573 | | **Total Assets** | **$1,378,192** | | **Liabilities & Equity** | | | Secured financings | $1,075,890 | | Credit facility | $47,282 | | **Total Liabilities** | **$1,135,257** | | **Total Equity** | **$242,935** | | **Metrics** | | | Total liabilities / total equity | 4.7x | | Book Value Per Share | $3.50 | [Q1 2024 Income Statement Summary](index=6&type=section&id=Q1%202024%20Income%20Statement%20Summary) Q1 2024 net interest income was $13.0 million, leading to $5.8 million ($0.11/share) net income and $7.6 million ($0.15/share) Distributable Earnings Income Statement & Distributable Earnings (Q1 2024) | Metric | Amount (thousands) | | :--- | :--- | | Net Interest Income | $12,993 | | Operating Expenses | ($4,268) | | Net Income Attributable to Common Stockholders | $5,795 | | **Distributable Earnings** | **$7,578** | | **Per Share Metrics** | | | Net Income per Share | $0.11 | | Distributable Earnings per Share | $0.15 | [Earnings and Book Value Per Share Trends](index=7&type=section&id=Earnings%20and%20Book%20Value%20Per%20Share%20Trends) Q1 2024 Distributable Earnings per share increased to $0.15, while the dividend remained $0.07, and book value per share rose to $3.50 Per Share Performance Trend | Quarter | Distributable Earnings | Dividends | Book Value | | :--- | :--- | :--- | :--- | | Q2 2023 | $0.11 | $0.06 | $3.43 | | Q3 2023 | $0.11 | $0.07 | $3.46 | | Q4 2023 | $0.10 | $0.07 | $3.46 | | Q1 2024 | $0.15 | $0.07 | $3.50 | [Investment Portfolio](index=8&type=section&id=Investment%20Portfolio) The company's $1.3 billion floating-rate CRE loan portfolio is heavily concentrated in multifamily assets with stable credit quality [Portfolio Composition](index=8&type=section&id=Portfolio%20Composition) The $1.3 billion floating-rate CRE loan portfolio is 93.6% multifamily, with significant exposure to Texas and Florida, and no hospitality, retail, or office assets - The portfolio **consists of $1.3 billion** in floating-rate CRE loans, with **93.6%** invested in loans collateralized by multifamily assets[18](index=18&type=chunk) - The company has **no current exposure** to hospitality, retail, or office loan assets, with limited exposure to seniors housing and self-storage[18](index=18&type=chunk) Portfolio Breakdown by Property Type & Geography | Category | Breakdown | % of Portfolio | | :--- | :--- | :--- | | **Property Type** | Multifamily | 93.6% | | | Seniors Housing & Healthcare | 5.8% | | | Self Storage | 0.6% | | **Geography** | Texas | 30.3% | | | Florida | 16.3% | | | Georgia | 10.9% | | | New Jersey | 7.5% | [Q1 2024 Loan Activity](index=9&type=section&id=Q1%202024%20Loan%20Activity) The loan portfolio decreased to $1.29 billion in Q1 2024, primarily due to $97.4 million in multifamily loan payoffs, with no new loan loss provisions - The company experienced **$97.4 million** of loan payoffs during the quarter, **entirely from the multifamily segment**[19](index=19&type=chunk)[20](index=20&type=chunk) Portfolio Activity Roll-Forward (Q1 2024) | Description | Amount (millions) | | :--- | :--- | | Q4 2023 Portfolio Value | $1,383.9 | | Payoffs / Sales | ($97.4) | | Provision for Loan Losses | $0.8 | | Other Activity | ($1.8) | | **Q1 2024 Portfolio Value** | **$1,285.5** | [Portfolio Credit Quality](index=10&type=section&id=Portfolio%20Credit%20Quality) The portfolio's credit quality remained stable in Q1 2024, with a weighted average risk rating of 3.5 and 97.1% performing assets - The **weighted average risk rating of the portfolio remained unchanged quarter-over-quarter at 3.5**[23](index=23&type=chunk) - As of March 31, 2024, **97.1%** of the portfolio was performing, with **76.9%** rated as 'Moderate Risk' or better[23](index=23&type=chunk) [Capital Structure and Financing](index=11&type=section&id=Capital%20Structure%20and%20Financing) The company's capital structure relies on secured, non-recourse financing, avoiding repurchase facilities, and is sensitive to SOFR changes [Q1 2024 Capital Structure Overview](index=11&type=section&id=Q1%202024%20Capital%20Structure%20Overview) The capital structure is primarily secured, non-recourse financing (78.8%), avoiding repurchase facilities, with no corporate debt maturities until 2026 - The company does not use repurchase or warehouse facility financing, avoiding exposure to margin calls from repo or warehouse lenders[26](index=26&type=chunk) Capital Structure Composition (as of 3/31/2024) | Component | Amount ($ millions) | % of Total | | :--- | :--- | :--- | | Secured Financing | $1,081.0 | 78.8% | | Term Loan | $47.8 | 3.5% | | Preferred Equity | $60.0 | 4.4% | | Common Equity | $182.8 | 13.3% | | **Total Capitalization** | **$1,371.6** | **100.0%** | [Net Interest Income Sensitivity](index=12&type=section&id=Net%20Interest%20Income%20Sensitivity) The 100% floating-rate loan portfolio is sensitive to SOFR changes, with a 25 basis point decrease estimated to reduce net interest income per share by $0.01 - The entire loan portfolio is **100% floating-rate** and indexed to 30-day term SOFR[29](index=29&type=chunk) Net Interest Income Per Share Sensitivity to SOFR Changes | Change in SOFR | Change in Net Interest Income Per Share | | :--- | :--- | | +25 bps | +$0.01 | | -25 bps | -$0.01 | | -50 bps | -$0.02 | | -75 bps | -$0.03 | [Appendix](index=13&type=section&id=Appendix) This section provides detailed financial statements, loan portfolio specifics, and key financial measure definitions [CRE Loan Portfolio Details](index=14&type=section&id=CRE%20Loan%20Portfolio%20Details) This section provides a detailed, loan-by-loan breakdown of the company's 81 commercial real estate loans totaling approximately $1.3 billion Total CRE Loan Portfolio Summary (as of 3/31/2024) | Metric | Value ($) | | :--- | :--- | | Number of Loans | 81 | | Total Unpaid Principal Balance | $1,299,971,777 | | Weighted Average Note Spread | 3.60% | | Total Unamortized Discount/Premium | ($6,289,627) | [Consolidated Financial Statements](index=18&type=section&id=Consolidated%20Financial%20Statements) This section presents the detailed unaudited consolidated financial statements for Q1 2024, including balance sheets and income statements [Consolidated Balance Sheets](index=18&type=section&id=Consolidated%20Balance%20Sheets) The detailed balance sheet shows total assets of $1.38 billion as of March 31, 2024, with total equity increasing to $242.9 million Balance Sheet Comparison | Account | March 31, 2024 ($) | December 31, 2023 ($) | | :--- | :--- | :--- | | Total Assets | 1,378,191,925 | 1,446,932,447 | | Total Liabilities | 1,135,256,623 | 1,206,140,067 | | Total Equity | 242,935,302 | 240,792,380 | [Consolidated Statement of Income](index=19&type=section&id=Consolidated%20Statement%20of%20Income) The income statement for Q1 2024 shows net interest income of $13.0 million and net income attributable to common stockholders of $5.8 million ($0.11 per share) Income Statement Comparison (Three Months Ended March 31) | Account | 2024 ($) | 2023 ($) | | :--- | :--- | :--- | | Net Interest Income | 12,992,557 | 8,246,368 | | Net Income | 6,980,182 | 5,766,691 | | Net Income Attributable to Common Stockholders | 5,795,183 | 4,581,733 | | Basic and Diluted Income per Share | 0.11 | 0.09 | [Allowance for Loan Losses Detail](index=20&type=section&id=Allowance%20for%20Loan%20Losses%20Detail) The allowance for credit losses increased by $1.76 million in Q1 2024 due to provisions, reaching a total of $7.82 million Allowance for Credit Losses Roll-Forward (Q1 2024) | Description | Amount ($) | | :--- | :--- | | Beginning Balance (12/31/2023) | 6,059,006 | | Provision for credit losses | 1,757,456 | | **Ending Balance (3/31/2024)** | **7,816,462** | [Reconciliation of Net Income to Distributable Earnings](index=21&type=section&id=Reconciliation%20of%20Net%20Income%20to%20Distributable%20Earnings) This table reconciles Q1 2024 GAAP net income of $5.8 million to Distributable Earnings of $7.58 million, or $0.15 per share GAAP Net Income to Distributable Earnings Reconciliation (Q1 2024) | Line Item | Amount ($) | | :--- | :--- | | Net income attributable to common stockholders | 5,795,183 | | Unrealized provision for credit losses | 1,776,873 | | Other Adjustments | 6,265 | | **Distributable Earnings** | **7,578,321** | [Capitalization and Book Value Reconciliation](index=22&type=section&id=Capitalization%20and%20Book%20Value%20Reconciliation) This section details the calculation of total capitalization at $1.37 billion and book value per common share at $3.50 as of March 31, 2024 - **Total LFT Capitalization as of March 31, 2024, was calculated to be $1.37 billion** after adjustments to total GAAP liabilities and equity[47](index=47&type=chunk) Book Value Per Share Calculation (as of 3/31/2024) | Line Item | Amount ($) | | :--- | :--- | | Total stockholders' equity | $242,935,000 | | Less: Preferred equity | ($60,000,000) | | Common equity | $182,836,000 | | Shares outstanding | 52,257,315 | | **Book Value Per Share** | **$3.50** | [Key Definitions](index=24&type=section&id=Key%20Definitions) This section defines key non-GAAP financial measures, including Book Value Per Share of Common Stock and Distributable Earnings - Book Value Per Share of Common Stock is calculated by subtracting the liquidation preference of preferred stock from total stockholders' equity and dividing by the number of common shares outstanding[51](index=51&type=chunk) - Distributable Earnings is a non-GAAP measure that excludes non-cash equity compensation, unrealized gains/losses, and other non-cash or one-time items from GAAP net income. It is considered a **strong indicator of the company's dividend-paying capacity**[52](index=52&type=chunk)[53](index=53&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ____________ Commission File No. 001-35845 LUMENT FINANCE TRUST, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of in ...

NEW YORK, May 6, 2024 /PRNewswire/ -- Lument Finance Trust, Inc. (NYSE: LFT) ("we,"; "LFT" or "the Company") announced today that it expects to file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 with the Securities and Exchange Commission on Thursday, May 9, 2024, after the market closes, and invites investors and other interested parties to listen to its live conference call via telephone or webcast on Friday, May 10, 2024 at 8:30 a.m. eastern time. The conference call may be acces ...

Lument Finance Trust, Inc. (NYSE:LFT) Q4 2023 Earnings Conference Call March 18, 2024 8:30 AM ET Company Participants Andrew Tsang - IR James P. Flynn - CEO James Briggs - CFO James J. Henson - President Zachary Halpern - Managing Director Conference Call Participants Crispin Love - Piper Sandler & Co. Steven Delaney - JMP Securities Matthew Erdner - JonesTrading Unidentified Analyst - Raymond James Christopher Nolan - Ladenburg Thalmann Operator Good morning, and thank you for joining the Lument Finance Tr ...

Q4 2023 Earnings Supplemental March 2024 Disclaimer This presentation includes non-GAAP financial measures, including Distributable Earnings. While we believe the non-GAAP information included in this presentation provides supplemental information to assist investors in analyzing our operating results and to assist investors in comparing our operating results with other peer issuers, these measures are not in accordance with GAAP, and they should not be considered a substitute for, or superior to, our finan ...

Exhibit 99.2 March 2024 Lument Finance Trust Q4 2023 Earnings Supplemental 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 "Company," "we," "our," or "us") with respect to, among other things, the Company's operations and financial performance. You can identify th ...