Lument Finance Trust

LFT

REIT - Mortgage · Real Estate

Price

$0.70

+0.02 (+2.85%)

Market Cap

$36.6M

Exchange

New York Stock Exchange

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 9, 2026 · filings through Mar 31, 2026

Share count rising — dilution

+109.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 24.9M (2021) → 52.3M (2025)

Lument Finance Trust is a real estate investment trust (REIT) that lends money to owners of multifamily apartment buildings across the United States. Instead of owning properties directly, it acts like a bank — providing loans to landlords and property developers who need financing to buy or improve apartment complexes. Its main customers are commercial real estate borrowers focused on workforce and affordable housing.

The company makes money primarily from the interest it earns on its loan portfolio, which consists largely of floating-rate bridge loans and other commercial real estate debt. It operates exclusively in the U.S. and is externally managed by Lument Investment Management, a firm with deep roots in multifamily lending. Because its loans are mostly floating-rate, rising interest rates can boost income but also increase borrower stress and default risk — meaning credit quality of its loan book is the central risk investors watch closely.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-0.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+42.6% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

37.1%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$65M cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Lument Finance Trust's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

89.7%

Premium pricing power — 89.7% gross margin

Operating Margin

86.0%

Excellent — 86.0% operating margin

ROCE

1.5%

Weak — 1.5% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+64.2%

Fast-growing sales (+64.2% YoY)

EPS YoY

-164.4%

Earnings shrinking (-164.4% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

12.8%

Converts sales into free cash efficiently (12.8%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity

4.53

Heavy debt load (4.53)

Interest Cover

0.54x

Dangerous — barely covers interest (0.5x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend Yield

23.61%

Healthy income — 23.61% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend Growth

-59.0%

Dividend cut (-59.0% YoY) — warning sign

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