Lument Finance Trust posts Q3 loss driven by credit and real estate charges
LFT•Lument Finance Trust reported a third-quarter net loss of $13.5 million, or $2.57 per share, and a distributable loss of $0.7 million, or $0.13 per share. Results included an $8.6 million credit loss provision and $3.9 million in real estate impairment expense.
1. Quarterly results
Lument Finance Trust reported a third-quarter net loss of $13.5 million, or $2.57 per share, and a distributable loss of $0.7 million, or $0.13 per share. Results were affected by an $8.6 million provision for credit losses and $3.9 million in real estate owned impairment expense. The company provided no specific financial guidance for upcoming quarters or the full year.
