Lument Finance Trust (NYSE:LFT) Posts Quarterly Earnings Results, Misses Estimates By $0.16 EPS

Lument Finance Trust (NYSE:LFT) issued its earnings results on Thursday. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.16), FiscalAI reports. Lument Finance Trust had a positive return on equity of 0.84% and a negative net margin of 18.00%.The business had revenue of ($13.37) million for the quarter, compared to the consensus estimate of $4.59 million.

Lument Finance Trust Trading Down 5.8%

Shares of NYSE:LFT opened at $0.66 on Friday. Lument Finance Trust has a 12-month low of $0.62 and a 12-month high of $2.37. The business has a 50 day moving average of $0.89 and a 200-day moving average of $1.13. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 6.16. The stock has a market cap of $34.35 million, a PE ratio of -1.82 and a beta of 0.56.

Shares of Lument Finance Trust are scheduled 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 Announces Dividend

The company 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 24.4%. The ex-dividend date was Tuesday, June 30th. Lument Finance Trust’s payout ratio is currently -123.08%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Lument Finance Trust

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its position in Lument Finance Trust by 4.2% during the 4th quarter. State Street Corp now owns 454,684 shares of the technology company’s stock worth $659,000 after buying an additional 18,122 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Lument Finance Trust by 71.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 112,804 shares of the technology company’s stock valued at $159,000 after acquiring an additional 46,936 shares during the period. Jane Street Group LLC acquired a new position in shares of Lument Finance Trust in the fourth quarter valued at about $139,000. JPMorgan Chase & Co. grew its stake in shares of Lument Finance Trust by 65.1% in the third quarter. JPMorgan Chase & Co. now owns 61,457 shares of the technology company’s stock valued at $124,000 after acquiring an additional 24,226 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new position in Lument Finance Trust during the second quarter worth about $98,000. 19.45% of the stock is owned by institutional investors and hedge funds.

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.