Lument Finance Trust (NYSE:LFT) Issues Earnings Results, Misses Estimates By $0.06 EPS

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

Lument Finance Trust Trading Down 1.0%

Lument Finance Trust stock traded down $0.02 during midday trading on Wednesday, reaching $1.55. The stock had a trading volume of 369,626 shares, compared to its average volume of 166,729. The company has a quick ratio of 6.41, a current ratio of 6.41 and a debt-to-equity ratio of 4.35. The firm has a market cap of $80.87 million, a price-to-earnings ratio of 8.13 and a beta of 0.79. Lument Finance Trust has a 52-week low of $1.50 and a 52-week high of $2.84. The company has a fifty day moving average of $1.91 and a 200 day moving average of $2.20.

Lument Finance Trust Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.04 dividend. 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 is currently 84.21%.

Institutional Trading of Lument Finance Trust

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Lument Finance Trust by 0.7% in the third quarter. Vanguard Group Inc. now owns 1,907,084 shares of the technology company’s stock worth $3,852,000 after purchasing an additional 12,624 shares in the last quarter. JPMorgan Chase & Co. raised its position in Lument Finance Trust by 65.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 61,457 shares of the technology company’s stock valued at $124,000 after purchasing an additional 24,226 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Lument Finance Trust by 3,989.4% in the 2nd quarter. Bank of America Corp DE now owns 14,640 shares of the technology company’s stock worth $32,000 after buying an additional 14,282 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Lument Finance Trust during the 2nd quarter worth $55,000. Finally, Invesco Ltd. purchased a new position in shares of Lument Finance Trust during the second quarter valued at $63,000. 19.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.