Lument Finance Trust(US:LFT)2020-03-17 17:44Company Overview and Strategy - Hunt Companies Finance Trust (HCFT) is a real estate investment trust (REIT) focused on transitional multifamily and other commercial real estate loans or securitizations[4] - The company emphasizes floating-rate investments and has a strong focus on the middle-market multifamily sector[4] - HCFT is externally managed by OREC Investment Management, a subsidiary of ORIX Corporation USA[4] ORIX Transaction - On January 6, 2020, HCFT announced a new management agreement with OREC Investment Management, LLC, a subsidiary of ORIX Corporation USA[6] - ORIX Corporation's assets exceed $110 billion, and it has approximately $400 billion of assets under management[7] - In connection with the transaction, an affiliate of ORIX USA purchased 1,246,719 shares of HCFT's common stock at $4.61 per share, resulting in an aggregate capital raise of $5,747,375[10] - The purchase price per share represented a 43% premium over the HCFT common share price on January 2, 2020[10] Q4 2019 Financial Results - Q4 2019 GAAP Net Income was $1.22 million, or $0.05 per share; FY19 GAAP Net Income was $2.66 million, or $0.11 per share[19] - Q4 2019 Core Earnings were $1.32 million, or $0.06 per share; FY19 Core Earnings were $7.55 million, or $0.32 per share[19] - Q4 2019 Book Value Per Share was $4.59[19] Investment Portfolio - As of December 31, 2019, 99.6% of HCFT's investment portfolio consisted of floating-rate CRE loans[19] - The $635.3 million CRE loan portfolio had a weighted average remaining term of 21 months and a weighted average coupon of L + 3.60%[19] - 94% of the portfolio was multifamily[19]