Financial Data and Key Metrics Changes - For Q3 2025, the company generated distributable earnings of $0.31 per share, covering the dividend of $0.30 per share [5][13] - Net interest income for the quarter was $6.1 million, with GAAP net income at $4.05 million [13][14] - The company ended the quarter with total assets of $258.8 million and total shareholder equity of $184.6 million, resulting in a book value of $13.76 per share [14] Business Line Data and Key Metrics Changes - The portfolio had $367 million in commitments and $253 million in principal outstanding across 13 loans as of September 30, 2025 [14] - The weighted average loan-to-cost at closing was 56%, indicating conservative positioning [6] - Approximately 95% of the loans are floating rate, with an average SOFR floor of about 4% [6] Market Data and Key Metrics Changes - There has been a notable increase in financing requests, indicating a recovery in the real estate market [8][9] - The bid-ask spread between buyers and sellers is narrowing, which is increasing transaction volume [9] - Most new financing activity is concentrated in the bridge lending space, particularly in multifamily and industrial properties [10] Company Strategy and Development Direction - The company focuses on originating transitional loans primarily in the southern United States, aiming for attractive risk-adjusted returns [5][6] - The long-term goal is to achieve an investment-grade rating within the next three to five years [6] - The company is expanding its real estate pipeline, with two signed non-binding term sheets totaling approximately $170 million [11] Management's Comments on Operating Environment and Future Outlook - Management noted a renewed sense of interest rate stability, encouraging more sponsors to engage in capital planning [8] - The company remains confident in its ability to capitalize on attractive opportunities in the current market environment [12] - The underlying performance of the portfolio is progressing as expected, with no significant issues reported [30][31] Other Important Information - The company has a CESL reserve of approximately $400,000, or 17 basis points for loans at carrying value [14] - The board declared a dividend of $0.30 per share, paid on October 15, 2025 [13] Q&A Session Summary Question: What new geographies within the southern U.S. are being seen in the pipeline? - The company is focusing on Florida, Texas, North Carolina, Georgia, and Tennessee for new deals [17][18] Question: Are there any geographies that stand out as the most attractive for investment? - Texas and Florida continue to present interesting opportunities, with the Carolinas and Tennessee also being areas of focus [18][19] Question: How is the debt side of the business strategy progressing? - The company is not pursuing a repo line and is focused on obtaining an investment-grade rating while expanding bank lines [24][25] Question: How is the portfolio performing and what trends are being observed? - The portfolio is performing as expected, with steady progress in construction and sales [30][31]

Lument Finance Trust November 2025 Q3 2025 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 these forwar ...

Core Insights - Sunrise Realty Trust, Inc. reported a GAAP net income of $4.05 million or $0.30 per basic weighted average common share for Q3 2025, with Distributable Earnings of $4.12 million or $0.31 per share [1][2]. Financial Performance - The company paid a cash dividend of $0.30 per common share on October 15, 2025, distributing a total of $4.0 million in dividends, which is slightly lower than the Distributable Earnings of $0.31 per share for the same period [4]. - The reconciliation of GAAP net income to Distributable Earnings shows that for the three months ended September 30, 2025, the Distributable Earnings amounted to $4.12 million, reflecting adjustments for stock-based compensation and expected credit losses [16][18]. Strategic Focus - The CEO emphasized the company's commitment to its strategic objectives established 18 months ago, focusing on originating loans for transitional real estate assets primarily in the Southern United States [3]. - The company aims to diversify its portfolio across various asset classes, geographies, and borrowers while maintaining a consistent and stable dividend [3]. Company Overview - Sunrise Realty Trust, Inc. operates as an institutional commercial real estate lender, providing flexible financing solutions for commercial real estate projects, particularly in the Southern U.S. [8]. - The company is part of the Tannenbaum Capital Group's real estate platform, which includes affiliated debt funds focused on transitional commercial real estate properties [10].

Accessibility StatementSkip Navigation NEW YORK, Nov. 12, 2025 /PRNewswire/ -- Lument Finance Trust, Inc. (NYSE: LFT) ("we", "LFT" or "the Company") today reported its third quarter results. GAAP net income attributable to common shareholders for the third quarter was $0.7 million, or $0.01 per share of common stock. Distributable earnings for the third quarter were $1.0 million, or $0.02 per share of common stock. The Company has also issued a detailed presentation of its results, which can be viewed at ...

Company Overview - Advanced Flower Capital (AFCG) is a Nasdaq-listed commercial mortgage REIT providing institutional loans to state law-compliant cannabis operators in the United States[12] - The company aims for attractive risk-adjusted returns with a target average portfolio gross yield of 12%-20%[12][13] - Shareholders approved the plan to convert from a REIT to a BDC, with over 61% of outstanding shares voted and approximately 94% of those votes cast in favor[12] Market Opportunity - The U S legal cannabis market is expected to reach $63 billion by 2030, with a total economic impact surpassing $200 billion[25] - Cannabis market is projected to grow at a CAGR of approximately 12% from 2025 to 2030, outpacing growth projections for wine, spirits, tobacco, and beer[28][31] - 42 states and DC have legalized medical cannabis, with 24 states and DC legalizing adult-use cannabis[32] Portfolio and Deal Flow - AFC's loan portfolio includes 14 loans to borrowers across 16 states[19] - The company has a deal selectivity of 34% since inception[42] - Total closed deals since inception amount to $930 million[42] - The company has sourced $261 billion in total deals since inception[42] - Current commitments stand at $340 million, with a principal balance of $328 million[42] Financial Performance - For the three months ended September 30, 2025, the company reported a net loss of $1249 million[54] - Distributable earnings for the three months ended September 30, 2025, were $354 million, or $016 per basic weighted average share[55] - For the nine months ended September 30, 2025, the company reported a net loss of $2159 million[54] - Distributable earnings for the nine months ended September 30, 2025, were $1147 million, or $052 per basic weighted average share[55]

Third quarter 2025 GAAP net loss of $(12.5) million or $(0.57) per basic weighted average common share and Distributable Earnings(1) of $3.5 million or $0.16 per basic weighted average common share AFC shareholders approve conversion from mortgage REIT to BDC WEST PALM BEACH, Fla., Nov. 12, 2025 (GLOBE NEWSWIRE) -- Advanced Flower Capital Inc. (Nasdaq: AFCG) (“Advanced Flower Capital,” “AFC,” or the “Company”) today announced its results for the quarter ended September 30, 2025. AFC reported generally acce ...

Financial Performance - Starwood Property Trust reported Q3 2025 GAAP earnings of $0.19 per diluted share and Distributable Earnings (DE) of $0.40 per diluted share[6] - The company invested $4.6 billion in Q3 2025 and $10.2 billion in the first nine months of the year[6] - The company paid a quarterly dividend of $0.48 per share, maintaining this dividend for over a decade[6] Capital Activities - Starwood Property Trust raised $2.3 billion of capital across equity, term loan B, and high yield markets[6] - The company has a record liquidity of $2.2 billion[6] - The company repriced $1.6 billion of term loans at record low spreads[28] Portfolio Composition - The company has successfully deployed $112 billion of capital since inception and manages a portfolio of $30 billion across debt and equity investments[11] - U S office represents only 8% of the company's diversified $29.9 billion asset base[29] - The company acquired Fundamental, a $2.2 billion portfolio of durable, long-term, high quality net lease assets[7] Lending Activities - The company originated $1.4 billion in commercial lending during the quarter[6] - The company invested a record $0.8 billion in infrastructure lending during the quarter[6] - The company securitized or priced $222 million of conduit loans in five transactions[26]

Core Insights - Ready Capital Corporation reported a GAAP loss per common share from continuing operations of $(0.13) and a distributable loss per common share of $(0.94) for the quarter ended September 30, 2025 [1][22] - The company is focused on restoring financial health through decisive exit strategies for underperforming loans and risk management of upcoming debt maturities, aiming for balance sheet stability and profitability [2] Financial Performance - The company reported LMM commercial real estate originations of $139 million and Small Business Lending loan originations of $283 million, which included $173 million of Small Business Administration 7(a) loans [6] - The book value per share of common stock was $10.28 as of September 30, 2025 [6] - The company completed two portfolio sales consisting of 217 loans with an unpaid principal balance of $758 million for net proceeds of $109 million [6] Non-GAAP Financial Information - Distributable earnings, a non-GAAP financial measure, is defined as net income adjusted for various unrealized gains and losses, realized gains and losses on sales of certain mortgage-backed securities, and other non-cash items [3][4] - The company believes that this non-GAAP measure provides greater transparency into financial and operational decision-making, including dividend determination [4] Income Statement Highlights - For the three months ended September 30, 2025, the company reported interest income of $137.491 million and interest expense of $(126.971) million, resulting in net interest income before provision for loan losses of $10.520 million [21] - The net loss from continuing operations was $(16.947) million, with a net loss attributable to Ready Capital Corporation of $(20.744) million [22] Balance Sheet Overview - As of September 30, 2025, total assets were $8.332 billion, with cash and cash equivalents of $147.505 million and loans, net of $4.361 billion [20] - Total liabilities amounted to $6.449 billion, with secured borrowings of $2.879 billion and corporate debt of $666.624 million [20] Segment Reporting - The LMM Commercial Real Estate segment reported interest income of $105.856 million and a net interest income after provision for loan losses of $(31.680) million [24] - The Small Business Lending segment generated interest income of $31.635 million, with a net interest income after provision for loan losses of $4.223 million [24]

Financial Data and Key Metrics Changes - Patria's assets under management (AUM) exceeded $50 billion, representing a growth of over 3.5 times since its IPO in 2021 [6][7] - Organic fundraising surpassed $1.5 billion in Q3 2025, with year-to-date totals reaching $6 billion, indicating strong momentum [8][11] - Fee earning AUM grew to approximately $38.8 billion, up 4% sequentially and 14% year-over-year [19][20] - Fee related earnings (FRE) for Q3 2025 were reported at $49.5 million, reflecting a 22% increase year-over-year and a 7% increase sequentially [22][23] - Distributable earnings reached $46.9 million, up 34% year-over-year and 22% sequentially [26] Business Line Data and Key Metrics Changes - The infrastructure and credit businesses led the organic fundraising efforts, contributing significantly to the overall growth [8][12] - The infrastructure Fund V raised $2.9 billion, marking a 40% increase compared to the previous vintage, making it the largest dedicated infrastructure fund focused on Latin America [12][13] - The credit business surpassed its total 2024 fundraising by nearly 15%, reaching $1.6 billion in 2025 [12] Market Data and Key Metrics Changes - The depreciation of the U.S. dollar against other currencies is seen as a catalyst for international portfolio diversification, prompting investors to seek exposure in regions with stronger fundamentals [10][11] - There is increased global interest in infrastructure investments in Latin America, benefiting Patria as a leading infrastructure investor in the region [11][12] Company Strategy and Development Direction - The company aims to raise $21 billion from 2025 to 2027, with specific targets of $6 billion in 2025, $7 billion in 2026, and $8 billion in 2027 [16] - Patria plans to focus on organic growth in 2025, with a potential restart of acquisition efforts in 2026 and 2027, particularly in real estate and credit sectors [35][36] - The company is looking to expand its GPMS (Global Private Market Solutions) business, particularly in the U.S. and Mexico, to enhance its global presence [36][40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in exceeding the high end of the 2025 fundraising target of $6.6 billion, supported by strong fundraising momentum [16][18] - The company expects to generate approximately $15 million in performance-related earnings in Q4 2025, with potential for more monetization events [10][24] - The overall macroeconomic environment, characterized by persistent inflation and high interest rates, is seen as favorable for fundraising efforts [12][13] Other Important Information - The effective tax rate for Q3 2025 was reported at 3.3%, with expectations to hover around 10% annually in the coming years [26] - The Board approved an annual dividend of $0.60 per share for 2025, with a declared dividend of $0.15 per share for Q3 [27] Q&A Session Summary Question: Update on capital deployment pacing with $3.2 billion in pending fee earning AUM - Management indicated that the pending AUM will likely be deployed over the next 12 to 18 months, primarily in infrastructure investments [30][33] Question: Update on inorganic growth and asset classes of interest - Management stated that no acquisitions are planned for 2025, with a focus on organic growth, and potential acquisitions in real estate and credit sectors in 2026 and 2027 [34][35] Question: FRE guidance for the year and potential upside in Q4 - Management expects around $10 million to $12 million from incentive fees in Q4, which will be a significant contributor to surpassing the $200 million FRE target [44][46] Question: Update on GPMS product cross-sell evolution - Management highlighted successful phases in gaining client confidence and attracting new investments, with plans to launch new products in the GPMS structure [66][75]

Company Overview - Chicago Atlantic Real Estate Finance is a commercial mortgage REIT and institutional lender focused on state-licensed cannabis operators[10] - The company has closed over $3.2 billion in loans since its platform inception[8, 10] - The company's outstanding loan principal is $399.9 million with a gross portfolio yield of 16.5%[8] - The real estate collateral coverage in the current portfolio is 1.2x[8] Portfolio Diversification - The top 10 loans account for 65.7% of the outstanding loan principal[23] - The portfolio is diversified by rate type, with 36.7% in fixed-rate loans and 63.3% in floating-rate loans[23, 67] - The portfolio is diversified across various states, with Illinois at 19%, Ohio at 16%, Florida at 8%, Michigan at 14%, and California at 7%[26] - Loans with Retail/Industrial collateral are 31.6% and 47.1% of the portfolio respectively[28, 32] Financial Performance - For the three months ended September 30, 2025, net income was $8.93 million, or $0.42 per basic share[68] - Distributable Earnings for the three months ended September 30, 2025, were $10.52 million, or $0.50 per basic share[69]