Lument Finance Trust, Inc. (NYSE: LFT) is a real estate investment trust (REIT) that invests in, finances, and manages a portfolio of commercial real estate (CRE) debt investments, primarily floating-rate loans collateralized by multifamily properties.
On March 23, 2026, the company released its fourth-quarter and full-year 2025 results. It reported a GAAP net loss attributable to common shareholders of $8.9 million, or $0.17 per share, for the fourth quarter. This compares with analyst expectations for normalized/distributable EPS of approximately $0.06. The company posted a small distributable loss of approximately $0.2 million, or essentially $0.00 per share (a miss versus the ~$0.06 estimate).
Net interest income (the primary revenue metric for this mortgage REIT) was approximately $5.37 million for the quarter, below consensus estimates in the $7–$7.78 million range.
For the full year 2025, LFT reported a GAAP net loss attributable to common shareholders of $7.5 million, or $0.14 per share. Despite the GAAP loss, the company generated distributable earnings of $7.6 million, or $0.14 per share. Distributable earnings are a key non-GAAP metric for REITs because they better reflect cash available for distribution to shareholders after adjusting for non-cash items such as unrealized provisions for credit losses.
