Nov 13, 2024 / 01:30PM GMT
Operator
Five risk graded asset was a $32 million loan collateralized by a multifamily property in Dallas Texas.
That was and is in technical default.
We evaluated these four or five graded loans individually to determine whether asset specific reserves or credit losses were necessary.
After analysis of the underlying collateral we maintained, but it did not add to the approximately 900,000 in specific reserve which we recorded during the second quarter of this year.
The general cecil reserve increased by approximately 300,000 during the period driven primarily by changes in the macroeconomic forecast.
Company's total equity at the end of the quarter was approximately 243 million total. Book value of common stock was approximately 183 million or $3.50 per share increasing slightly from $3.48 cents per share. As of June 30th, we ended the third quarter with an unrestricted cash balance of 46 million and our investment capacity through two secured financial two secured financial financing was fully deployed.
We'll now turn the call over to Jim Hanson to
Q3 2024 Lument Finance Trust Inc Earnings Call Transcript
Nov 13, 2024
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