Lument Finance Trust (NYSE:LFT) Cut to “Market Perform” at Raymond James

Lument Finance Trust (NYSE:LFT) was downgraded by research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a report released on Thursday, MarketBeat reports.

Lument Finance Trust Stock Performance

LFT opened at $2.55 on Thursday. The company has a quick ratio of 5.78, a current ratio of 5.78 and a debt-to-equity ratio of 5.64. The firm has a market cap of $133.26 million, a PE ratio of 7.97 and a beta of 1.06. The business has a fifty day simple moving average of $2.52 and a 200-day simple moving average of $2.45. Lument Finance Trust has a fifty-two week low of $1.91 and a fifty-two week high of $2.75.

Lument Finance Trust (NYSE:LFT) last released its quarterly earnings results on Monday, August 12th. The technology company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). The company had revenue of $30.64 million during the quarter, compared to analyst estimates of $9.82 million. Lument Finance Trust had a net margin of 16.91% and a return on equity of 14.10%. During the same quarter last year, the business earned $0.04 EPS. As a group, equities analysts predict that Lument Finance Trust will post 0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Lument Finance Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. purchased a new stake in shares of Lument Finance Trust in the second quarter valued at $54,000. Mercer Global Advisors Inc. ADV acquired a new position in Lument Finance Trust during the second quarter valued at $27,000. Acadian Asset Management LLC purchased a new stake in Lument Finance Trust in the 2nd quarter worth about $55,000. Hillsdale Investment Management Inc. boosted its position in Lument Finance Trust by 110.7% during the 1st quarter. Hillsdale Investment Management Inc. now owns 75,000 shares of the technology company’s stock worth $187,000 after acquiring an additional 39,396 shares during the period. Finally, Vanguard Group Inc. boosted its position in Lument Finance Trust by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 1,557,677 shares of the technology company’s stock worth $3,879,000 after acquiring an additional 127,887 shares during the period. Institutional investors and hedge funds own 19.45% of the company’s stock.

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.