Raymond James Downgrades 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 report released on Thursday, Marketbeat.com reports.

Lument Finance Trust Stock Up 2.3 %

LFT opened at $2.65 on Thursday. The company’s 50-day moving average price is $2.53 and its two-hundred day moving average price is $2.46. The company has a quick ratio of 5.78, a current ratio of 5.78 and a debt-to-equity ratio of 5.64. Lument Finance Trust has a twelve month low of $1.91 and a twelve month high of $2.75. The stock has a market cap of $138.48 million, a price-to-earnings ratio of 8.28 and a beta of 1.06.

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

Lument Finance Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders 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 dividend on an annualized basis and a yield of 12.08%. Lument Finance Trust’s dividend payout ratio is presently 100.00%.

Institutional Trading of Lument Finance Trust

Several hedge funds and other institutional investors have recently modified their holdings of the business. Melia Wealth LLC purchased a new position in Lument Finance Trust in the 1st quarter valued at approximately $489,000. Vanguard Group Inc. grew its position 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 purchasing an additional 127,887 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake in shares of Lument Finance Trust by 110.7% during the 1st quarter. Hillsdale Investment Management Inc. now owns 75,000 shares of the technology company’s stock valued at $187,000 after purchasing an additional 39,396 shares during the period. Acadian Asset Management LLC purchased a new stake in Lument Finance Trust during the 2nd quarter worth about $55,000. Finally, Sei Investments Co. bought a new position in Lument Finance Trust in the 2nd quarter worth about $54,000. Institutional investors own 19.45% of the company’s stock.

About Lument Finance Trust

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.