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

Lument Finance Trust, Inc. (NYSE:LFT) shares are scheduled 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 closing bell on Wednesday, September 9th.

Lument Finance Trust Price Performance

Lument Finance Trust stock opened at $0.72 on Wednesday. The stock has a market capitalization of $37.59 million, a P/E ratio of -1.99 and a beta of 0.57. Lument Finance Trust has a 12-month low of $0.58 and a 12-month 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. The firm’s 50-day moving average is $0.80 and its two-hundred day moving average is $1.07.

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

Lument Finance Trust Dividend Announcement

The business 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 annualized dividend and a dividend yield of 22.3%. The ex-dividend date was Tuesday, June 30th. Lument Finance Trust’s dividend payout ratio is presently -44.44%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed 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 an average rating of “Sell”.

Hedge Funds Weigh In On Lument Finance Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Lument Finance Trust by 0.7% during the 3rd 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 during the period. Melia Wealth LLC purchased a new position in Lument Finance Trust in the second quarter valued at approximately $1,308,000. Geode Capital Management LLC lifted its position in Lument Finance Trust by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 1,099,134 shares of the technology company’s stock valued at $1,550,000 after buying an additional 30,855 shares in the last quarter. State Street Corp lifted its position in Lument Finance Trust by 4.2% during the fourth quarter. State Street Corp now owns 454,684 shares of the technology company’s stock valued at $659,000 after buying an additional 18,122 shares in the last quarter. Finally, BlackRock Inc. purchased a new stake in Lument Finance Trust during the second quarter worth approximately $344,000. 19.45% of the stock is owned by institutional investors and hedge funds.

About Lument Finance Trust

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.