Raymond James Lowers Lument Finance Trust (NYSE:LFT) to Market Perform

Raymond James cut shares of Lument Finance Trust (NYSE:LFT) from an outperform rating to a market perform rating in a research note published on Thursday morning, MarketBeat reports.

Lument Finance Trust Price Performance

Shares of LFT opened at $2.65 on Thursday. The business’s fifty day moving average is $2.53 and its 200 day moving average is $2.46. Lument Finance Trust has a 12-month low of $1.91 and a 12-month high of $2.75. The company has a quick ratio of 5.78, a current ratio of 5.78 and a debt-to-equity ratio of 5.64. The stock has a market cap of $138.48 million, a P/E ratio of 8.28 and a beta of 1.06.

Lument Finance Trust (NYSE:LFT) last released its quarterly earnings data on Monday, August 12th. The technology company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). Lument Finance Trust had a net margin of 16.91% and a return on equity of 14.10%. The business had revenue of $30.64 million during the quarter, compared to the consensus estimate of $9.82 million. During the same period last year, the business posted $0.04 earnings per share. Sell-side analysts anticipate that Lument Finance Trust will post 0.42 earnings per share for the current fiscal year.

Lument Finance Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, September 30th. This represents a $0.32 annualized dividend and a dividend yield of 12.08%. Lument Finance Trust’s payout ratio is 100.00%.

Institutional Investors Weigh In On Lument Finance Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sei Investments Co. purchased a new stake in shares of Lument Finance Trust in the second quarter valued at about $54,000. Mercer Global Advisors Inc. ADV purchased a new stake in Lument Finance Trust in the 2nd quarter valued at about $27,000. Acadian Asset Management LLC bought a new position in shares of Lument Finance Trust during the 2nd quarter worth approximately $55,000. Hillsdale Investment Management Inc. boosted its stake in shares of Lument Finance Trust by 110.7% in the 1st quarter. Hillsdale Investment Management Inc. now owns 75,000 shares of the technology company’s stock worth $187,000 after buying an additional 39,396 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Lument Finance Trust by 8.9% in the first quarter. Vanguard Group Inc. now owns 1,557,677 shares of the technology company’s stock valued at $3,879,000 after acquiring an additional 127,887 shares in the last quarter. 19.45% of the stock is owned by hedge funds and other institutional investors.

Lument Finance Trust Company Profile

Lument Finance Trust, Inc, a real estate investment trust, focuses on investing in, financing, and managing a portfolio of commercial real estate (CRE) debt investments in the United States. The company primarily invests in transitional floating rate CRE mortgage loans on middle market multi-family assets; and other CRE -related investments, including mezzanine loans, preferred equity, commercial mortgage-backed securities, fixed rate loans, construction loans, and other CRE debt instruments.