Lument Finance Trust (LFT) will be selling a new issue of cumulative preferred stock.
This tiny REIT (a market cap of $94 million) is unknown to me and obviously with a common share price of $3.78/share a deep dive is in order before any purchase of this new preferred issue.
In brief the company finances commercial real estate with an emphasis on multi family properties. They have been in business since 2012 and previously were known as ‘Hunt Companies Finance Trust’.
Yield talk is in the 8% area.
EarlyBird was early on this one.