Lument Finance Trust Reports Second Quarter 2024 Results

Core Points - Lument Finance Trust, Inc. reported a GAAP net income of $3.4 million, or $0.07 per share, for the second quarter of 2024 [1] - Distributable earnings for the same period were $4.8 million, or $0.09 per share [1] - The company will host a conference call on August 13, 2024, to discuss these financial results [2] Financial Performance - The GAAP net income attributable to common shareholders for the second quarter was $3,413,445 [9] - Distributable earnings, a non-GAAP measure, totaled $4,822,392 for the quarter [9] - The weighted average shares outstanding were 52,266,174, leading to distributable earnings per share of $0.09 [9] Non-GAAP Financial Measures - Distributable earnings exclude non-cash equity compensation, depreciation, amortization, unrealized gains or losses, and one-time events [4][6] - The company believes that distributable earnings provide meaningful information for evaluating performance and are a strong indicator of dividends per share [6][7] - Distributable earnings should not be considered a substitute for GAAP net income or cash flows from operating activities [8] Company Overview - Lument Finance Trust focuses on investing in, financing, and managing a portfolio of commercial real estate debt investments, primarily in transitional floating rate commercial mortgage loans [10] - The company is externally managed by Lument Investment Management LLC [10]