Melia Wealth LLC Buys Shares of 1,421,909 Lument Finance Trust, Inc. $LFT

Melia Wealth LLC purchased a new position in shares of Lument Finance Trust, Inc. (NYSE:LFT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,421,909 shares of the technology company’s stock, valued at approximately $1,308,000. Lument Finance Trust comprises 0.8% of Melia Wealth LLC’s investment portfolio, making the stock its 16th biggest holding. Melia Wealth LLC owned about 2.71% of Lument Finance Trust as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LFT. New York State Common Retirement Fund acquired a new stake in Lument Finance Trust during the 2nd quarter worth about $98,000. JPMorgan Chase & Co. lifted its stake in shares of Lument Finance Trust by 55,468.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 37,231 shares of the technology company’s stock valued at $82,000 after purchasing an additional 37,164 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Lument Finance Trust by 46.2% in the 4th quarter. Wells Fargo & Company MN now owns 51,170 shares of the technology company’s stock valued at $72,000 after purchasing an additional 16,179 shares during the period. Goldman Sachs Group Inc. bought a new stake in shares of Lument Finance Trust during the 1st quarter valued at about $66,000. Finally, Invesco Ltd. bought a new stake in shares of Lument Finance Trust during the 2nd quarter valued at about $63,000. Institutional investors and hedge funds own 19.45% of the company’s stock.

Analyst Ratings Changes

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

Lument Finance Trust Trading Down 0.5%

Shares of Lument Finance Trust stock opened at $0.73 on Friday. The company has a debt-to-equity ratio of 6.11, a quick ratio of 5.98 and a current ratio of 5.98. Lument Finance Trust, Inc. has a 52 week low of $0.58 and a 52 week high of $2.37. The stock has a 50 day moving average price of $0.82 and a two-hundred day moving average price of $1.08. The stock has a market capitalization of $38.32 million, a PE ratio of -2.03 and a beta of 0.56.

Shares of Lument Finance Trust are set to reverse split before the market opens on Thursday, September 10th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, September 9th.

Lument Finance Trust (NYSE:LFT) last issued its earnings results on Thursday, August 13th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.16). Lument Finance Trust had a positive return on equity of 0.86% and a negative net margin of 18.00%.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 disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 21.9%. The ex-dividend date was Tuesday, June 30th. Lument Finance Trust’s dividend payout ratio (DPR) is currently -44.44%.

Lument Finance Trust 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.