Hunt Companies Finance Trust, Inc. (NYSE: HCFT) announced the declaration of a cash dividend of $0.090 per share of common stock with respect to the fourth quarter of 2020, which represents a 6% increase over the second quarter 2020 dividend of $0.085 per share and a 20% increase over the fourth quarter 2019 dividend of $0.075 per share. This is the Company's second consecutive quarterly dividend increase and is payable on January 15, 2021 to stockholders of record as of the close of business on December 31, 2020.
The Company also announced today that it will change its name to Lument Finance Trust, Inc., effective December 28, 2020. In addition to the new corporate name, the Company expects to change its ticker symbol on the NYSE to "LFT" and anticipates that trading under the new name and ticker symbol will commence on December 28, 2020. This name change is a result of the rebranding of HCFT's manager, which occurred in October 2020, from "OREC Investment Management" to "Lument Investment Management". The company has posted an updated "Investor Overview" presentation that reflects the new brand to its website.
With regards to the rebranding, James Flynn, CEO of the Company, said, "We chose Lument, with its associations with light and energy, to emphasize that our Manager and its affiliated entities have the expertise, products, resources, and most importantly, the drive and determination to help guide our clients successfully, even during these uncertain times. We look forward to further enhancing the scale of the Company and generating shareholder value by leveraging Lument's expansive originations, asset management, and servicing platform."
Mr. William A. Houlihan, the Company's lead independent director, stated, "We are encouraged by the Company's continued partnership with ORIX USA and this rebranding effort."
About HCFT
HCFT is a Maryland corporation focused on investing in, financing and managing a portfolio of commercial real estate debt investments. The Company primarily invests in transitional floating rate commercial mortgage loans with an emphasis on middle-market multi-family assets.
HCFT is externally managed and advised by OREC Investment Management, LLC d/b/a Lument Investment Management, a Delaware limited liability company. For additional information about OREC Investment Management, LLC d/b/a Lument Investment Management, please see its Form ADV and brochure (Part 2A of Form ADV) available at https://www.adviserinfo.sec.gov.
About Lument
ORIX Real Estate Capital Holdings, LLC, d/b/a Lument, is a subsidiary of ORIX Corporation USA and is a leading national brand in commercial real estate finance. As the combined organization of legacy industry experts Hunt Real Estate Capital, Lancaster Pollard, and RED Capital Group, Lument delivers a comprehensive set of capital solutions customized for investors in multifamily, affordable housing, and seniors housing and healthcare real estate. Lument is a Fannie Mae DUS®, Freddie Mac Optigo®, FHA, and USDA lender. In addition, Lument offers a suite of proprietary commercial lending, investment banking, and investment management solutions. Lument has approximately 600 employees in over 25 offices across the United States. Securities and investment banking services are provided through OREC Securities, LLC, d/b/a Lument Securities, member FINRA/SIPC. Investment advisory services are provided through OREC Investment Management, LLC, d/b/a Lument Investment Management, an investment adviser registered with the U.S. Securities and Exchange Commission. For more information, visit www.lument.com.
Additional Information and Where to Find It
Investors, security holders and other interested persons may find additional information regarding the Company at the SEC's Internet site at http://www.sec.gov/ or the Company website www.huntcompaniesfinancetrust.com or by directing requests to: Hunt Companies Finance Trust, 230 Park Avenue, 19th Floor, New York, NY 10169, Attention: Investor Relations.
