Lument Finance Trust Stock to Reverse Split on Thursday, September 10th (NYSE:LFT)

Lument Finance Trust, Inc. (NYSE:LFT) shares are going to reverse split on the morning of Thursday, September 10th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, September 9th.

Lument Finance Trust Stock Up 1.8%

Shares of Lument Finance Trust stock opened at $0.74 on Friday. The firm has a market cap of $38.94 million, a price-to-earnings ratio of -2.06 and a beta of 0.56. The stock has a 50-day simple moving average of $0.81 and a 200-day simple moving average of $1.08. Lument Finance Trust has a 52-week low of $0.58 and a 52-week high of $2.37. The company has a debt-to-equity ratio of 6.11, a current ratio of 5.98 and a quick ratio of 5.98.

Lument Finance Trust (NYSE:LFT) last announced its quarterly earnings results on Thursday, August 13th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.16). Lument Finance Trust had a negative net margin of 18.00% and a positive return on equity of 0.86%. The firm had revenue of ($13.37) million during the quarter, compared to the consensus estimate of $4.59 million.

Lument Finance Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 21.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Lument Finance Trust’s payout ratio is currently -44.44%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Lument Finance Trust in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Institutional Trading of Lument Finance Trust

Several large investors have recently made changes to their positions in LFT. PNC Financial Services Group Inc. raised its stake in shares of Lument Finance Trust by 4,362.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 22,133 shares of the technology company’s stock valued at $28,000 after acquiring an additional 21,637 shares in the last quarter. Bank of America Corp DE lifted its holdings in 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 purchasing an additional 14,282 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Lument Finance Trust by 102.2% during the third quarter. BNP Paribas Financial Markets now owns 19,556 shares of the technology company’s stock worth $40,000 after purchasing an additional 9,882 shares during the period. Russell Investments Group Ltd. boosted its position in Lument Finance Trust by 302.0% during the fourth quarter. Russell Investments Group Ltd. now owns 32,987 shares of the technology company’s stock worth $47,000 after purchasing an additional 24,782 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Lument Finance Trust during the second quarter valued at approximately $55,000. Institutional investors own 19.45% of the company’s stock.

Lument Finance Trust Company Profile

Lument Finance Trust is a real estate investment trust that focuses on originating and acquiring senior secured loans backed by commercial real estate properties. Listed on the New York Stock Exchange under the ticker LFT, the company seeks to generate attractive risk‐adjusted returns by targeting floating‐rate, first‐mortgage loans across a broad range of property types, including multifamily, office, retail, industrial and hospitality.

The firm’s core business activity centers on deploying capital into short‐ and medium‐term financing solutions for institutional real estate owners and developers.