Lument Finance Trust (NYSE:LFT) Announces Quarterly Earnings Results

Lument Finance Trust (NYSE:LFT) released its quarterly earnings data on Wednesday. The technology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.06), FiscalAI reports. The business had revenue of $4.75 million for the quarter, compared to analyst estimates of $8.32 million. Lument Finance Trust had a return on equity of 12.51% and a net margin of 14.50%.

Lument Finance Trust Stock Performance

Shares of Lument Finance Trust stock traded down $0.02 during mid-day trading on Wednesday, hitting $1.55. 351,001 shares of the stock were exchanged, compared to its average volume of 165,875. Lument Finance Trust has a 12 month low of $1.50 and a 12 month high of $2.84. The company has a 50-day simple moving average of $1.91 and a 200 day simple moving average of $2.20. The company has a market capitalization of $80.87 million, a P/E ratio of 8.13 and a beta of 0.79. The company has a debt-to-equity ratio of 4.35, a quick ratio of 6.41 and a current ratio of 6.41.

Lument Finance Trust Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.16 annualized dividend and a dividend yield of 10.4%. Lument Finance Trust’s dividend payout ratio (DPR) is currently 84.21%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Lument Finance Trust in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Lument Finance Trust presently has an average rating of “Hold”.

Institutional Trading of Lument Finance Trust

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in Lument Finance Trust by 132.9% in the second quarter. Geode Capital Management LLC now owns 1,058,721 shares of the technology company’s stock worth $2,340,000 after purchasing an additional 604,205 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Lument Finance Trust by 117.0% during the 1st quarter. Jane Street Group LLC now owns 124,754 shares of the technology company’s stock worth $326,000 after purchasing an additional 67,254 shares during the period. New York State Common Retirement Fund purchased a new position in shares of Lument Finance Trust in the 2nd quarter worth about $98,000. JPMorgan Chase & Co. grew its position in Lument Finance Trust by 55,468.7% during the second quarter. JPMorgan Chase & Co. now owns 37,231 shares of the technology company’s stock valued at $82,000 after buying an additional 37,164 shares during the period. Finally, Invesco Ltd. bought a new position in Lument Finance Trust during the second quarter valued at about $63,000. 19.45% of the stock is currently owned by institutional investors.

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.