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

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

Lument Finance Trust Stock Performance

Shares of NYSE LFT opened at $2.59 on Thursday. The company has a current ratio of 5.78, a quick ratio of 5.78 and a debt-to-equity ratio of 5.64. The stock has a 50 day simple moving average of $2.52 and a 200-day simple moving average of $2.45. The company has a market cap of $135.35 million, a PE ratio of 8.09 and a beta of 1.06. Lument Finance Trust has a 12-month low of $1.91 and a 12-month high of $2.75.

Lument Finance Trust (NYSE:LFT) last announced its earnings results on Monday, August 12th. The technology company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.02). Lument Finance Trust had a return on equity of 14.10% and a net margin of 16.91%. The firm had revenue of $30.64 million for the quarter, compared to the consensus estimate of $9.82 million. During the same period in the previous year, the firm earned $0.04 EPS. On average, equities research analysts forecast that Lument Finance Trust will post 0.42 EPS for the current year.

Lument Finance Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.32 annualized dividend and a yield of 12.36%. Lument Finance Trust’s payout ratio is 100.00%.

Institutional Investors Weigh In On Lument Finance Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Lument Finance Trust by 8.9% during the first quarter. Vanguard Group Inc. now owns 1,557,677 shares of the technology company’s stock worth $3,879,000 after purchasing an additional 127,887 shares in the last quarter. LSV Asset Management acquired a new stake in Lument Finance Trust during the 1st quarter valued at $41,000. Hillsdale Investment Management Inc. acquired a new stake in Lument Finance Trust during the 4th quarter valued at $83,000. Melia Wealth LLC acquired a new stake in Lument Finance Trust during the 1st quarter valued at $489,000. Finally, Sei Investments Co. purchased a new position in shares of Lument Finance Trust during the 2nd quarter valued at $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.