NEW YORK, Sept. 10, 2018
/PRNewswire/ -- Hunt Companies Finance Trust, Inc. (NYSE:HCFT)
announced today the declaration of a cash dividend of $0.06 per share of common stock with respect to
the third quarter of 2018. This third quarter common stock
dividend is payable on October 15,
2018 to stockholders of record as of the close of business
on September 28, 2018.
In accordance with the terms of the 8.75% Cumulative Redeemable
Preferred Stock ("Series A Preferred Stock") of the Company, the
board of directors has also declared monthly cash dividend rates
for the fourth quarter of 2018 of $0.1823 per share of Series A Preferred
Stock:
Fourth Quarter 2018 Series A Preferred Stock
Dividends
Month
|
Dividend
|
Record
Date
|
Payment
Date
|
October
2018
|
$0.1823
|
October 15,
2018
|
October 26,
2018
|
November
2018
|
$0.1823
|
November 15,
2018
|
November 27,
2018
|
December
2018
|
$0.1823
|
December 17,
2018
|
December 27,
2018
|
James Flynn, Chairman and Chief
Executive Officer said, "During the second quarter and early third
quarter, we substantially completed the transition of our corporate
balance sheet to invest in commercial real estate loan assets.
We believe this will drive stable and consistent core
earnings and value to our shareholders going forward."
The Company further announced that David
Oston, Chief Financial Officer, Treasurer and Secretary of
the Company, has indicated his intention to retire. Mr. Oston
stepped down from his role as CFO and Treasurer on September 6, 2018. Mr. Oston has agreed to
assist in the orderly transition of his CFO responsibilities and
will continue to serve the Company in the role of Executive Vice
President and Secretary and as a member of the board. Mr.
Oston's retirement is not based on any disagreement with the
Company or with its auditors on any matter relating to the
Company's operations, policies or practices, including its controls
or financial related matters.
The Company has appointed James A.
Briggs as Chief Financial Officer on an interim basis.
Mr. Briggs brings more than 30 years of accounting and
finance experience in the financial services and real estate
industries. He currently also serves as the Chief Accounting
Officer for Hunt Real Estate Capital, LLC and several other Hunt
affiliates. Prior to his role at Hunt, Mr. Briggs was the
Chief Accounting Officer for Centerline Capital Group, a publicly
traded specialty finance and investment management business and
predecessor company to Hunt Real Estate Capital. Prior to
that, Mr. Briggs was the Director of Finance at MRU Holdings.
Mr. Briggs has fifteen years of experience from JP Morgan Chase
& Co. and its predecessor companies in a variety of accounting
and finance roles, including as Head of Valuation Control and CFO
for Emerging Markets. Mr. Briggs, a Certified Public
Accountant, began his career at Ernst & Young, LLP and earned
his B.B.A in Accounting from Iona
College.
Hunt Companies Finance Trust
Hunt Companies Finance Trust is a real estate investment
trust ("REIT") focused with its subsidiaries on investing in,
financing and managing transitional multi-family and commercial
real estate loans, securities backed by multifamily mortgage loans
or multifamily mortgage-backed securities ("Multifamily MBS"), and
other mortgage related investment including mortgage servicing
rights. The Company's objective remains to deliver attractive cash
flow returns over time to its investors.
Hunt Companies Finance Trust is externally managed and
advised by Hunt Investment Management, LLC. More
information regarding Hunt Investment Management is described in
its brochure (Part 2A of Form ADV) available at
www.adviserinfo.sec.gov.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the U.S. securities laws that are subject to risks
and uncertainties. These forward-looking statements include
information about possible or assumed future results of the
Company's business, financial condition, liquidity, results of
operations, plans and objectives. You can identify forward-looking
statements by use of words such as "believe," "expect,"
"anticipate," "estimate," "plan," "continue," "intend," "should,"
"may" or similar expressions or other comparable terms, or by
discussions of strategy, plans or intentions. Statements regarding
the following subjects, among others, may be forward-looking: the
return on equity; the yield on investments; the ability to borrow
to finance assets; and risks associated with investing in real
estate assets, including changes in business conditions, interest
rates, the general economy and political conditions and related
matters. Forward-looking statements are based on the Company's
beliefs, assumptions and expectations of its future performance,
taking into account all information currently available to the
Company. Actual results may differ from expectations, estimates and
projections and, consequently, you should not rely on these forward
looking statements as predictions of future events. Forward-looking
statements are subject to substantial risks and uncertainties, many
of which are difficult to predict and are generally beyond the
Company's control. Additional information concerning these and
other risk factors are contained in the Company's most recent
filings with the Securities and Exchange Commission, which are
available on the Securities and Exchange Commission's website at
www.sec.gov.
All subsequent written and oral forward-looking statements that
the Company makes, or that are attributable to the Company, are
expressly qualified in their entirety by this cautionary notice.
Any forward-looking statement speaks only as of the date on which
it is made. Except as required by law, the Company is not obligated
to, and does not intend to, update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
MEDIA CONTACTS
Brent Feigenbaum
Hunt Real Estate Capital
212-317-5730
Brent.Feigenbaum@huntcompanies.com
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SOURCE Hunt Companies Finance Trust, Inc.