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

Lument Finance Trust (NYSE:LFT) issued its quarterly earnings results on Wednesday. The technology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06), FiscalAI reports. The company had revenue of $4.75 million during the quarter, compared to the consensus estimate 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 Down 3.6%

Lument Finance Trust stock traded down $0.06 during trading hours on Thursday, reaching $1.49. The stock had a trading volume of 84,588 shares, compared to its average volume of 166,647. Lument Finance Trust has a 52 week low of $1.48 and a 52 week high of $2.84. The company has a debt-to-equity ratio of 4.35, a current ratio of 6.41 and a quick ratio of 6.41. The company has a market cap of $77.72 million, a price-to-earnings ratio of 7.82 and a beta of 0.79. The business’s 50 day moving average price is $1.90 and its 200-day moving average price is $2.19.

Lument Finance Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors 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 dividend on an annualized basis and a yield of 10.8%. Lument Finance Trust’s dividend payout ratio is 84.21%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Lument Finance Trust in a report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, Lument Finance Trust currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Lument Finance Trust

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its position in shares of Lument Finance Trust by 3,989.4% during the second 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. acquired a new stake in Lument Finance Trust in the 2nd quarter valued at about $55,000. Invesco Ltd. acquired a new position in shares of Lument Finance Trust in the second quarter valued at approximately $63,000. Goldman Sachs Group Inc. purchased a new position in Lument Finance Trust during the first quarter worth approximately $66,000. Finally, JPMorgan Chase & Co. increased its position in shares of Lument Finance Trust by 55,468.7% in the second quarter. JPMorgan Chase & Co. now owns 37,231 shares of the technology company’s stock worth $82,000 after acquiring an additional 37,164 shares in the last quarter. 19.45% of the stock is owned by hedge funds and other 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.