Key Points
- Director William Houlihan purchased 20,000 Lument Finance Trust shares at an average price of $0.60, increasing his stake by 7.12% to 300,732 shares.
- Lument Finance Trust plans a 1-for-10 reverse stock split effective September 10, with shareholder holdings adjusted after the September 9 market close.
- The company reported a quarterly EPS loss of $0.10, missing estimates by $0.16, while its shares traded near their 12-month low. Analysts maintain a “Sell” consensus rating.
Lument Finance Trust, Inc. (NYSE:LFT - Get Free Report) Director William Houlihan purchased 20,000 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were bought at an average cost of $0.60 per share, for a total transaction of $12,000.00. Following the completion of the transaction, the director directly owned 300,732 shares in the company, valued at $180,439.20. This trade represents a 7.12% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.
Lument Finance Trust Price Performance
Shares of Lument Finance Trust stock opened at $0.61 on Friday. The firm has a market cap of $32.08 million, a PE ratio of -1.70 and a beta of 0.56. The business has a 50-day moving average price of $0.85 and a 200 day moving average price of $1.11. The company has a quick ratio of 5.98, a current ratio of 5.98 and a debt-to-equity ratio of 6.11. Lument Finance Trust, Inc. has a twelve month low of $0.58 and a twelve month high of $2.37.
Lument Finance Trust shares are going to reverse split 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 - Get Free Report) last announced its earnings results on Thursday, August 13th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.16). Lument Finance Trust had a negative net margin of 18.00% and a positive return on equity of 0.86%. The company had revenue of ($13.37) million during the quarter, compared to analyst estimates of $4.59 million.
Lument Finance Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.16 dividend on an annualized basis and a yield of 26.2%. Lument Finance Trust's dividend payout ratio (DPR) is presently -44.44%.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Lument Finance Trust in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Lument Finance Trust presently has an average rating of "Sell".
Check Out Our Latest Stock Analysis on LFT
Institutional Trading of Lument Finance Trust
Institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its position in Lument Finance Trust by 4,362.3% in the first quarter. PNC Financial Services Group Inc. now owns 22,133 shares of the technology company's stock valued at $28,000 after purchasing an additional 21,637 shares during the period. Bank of America Corp DE grew its stake in shares of Lument Finance Trust by 3,989.4% in the second quarter. Bank of America Corp DE now owns 14,640 shares of the technology company's stock valued at $32,000 after buying an additional 14,282 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Lument Finance Trust by 102.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 19,556 shares of the technology company's stock valued at $40,000 after buying an additional 9,882 shares during the period. Russell Investments Group Ltd. lifted its stake in Lument Finance Trust by 302.0% during the 4th quarter. Russell Investments Group Ltd. now owns 32,987 shares of the technology company's stock worth $47,000 after acquiring an additional 24,782 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Lument Finance Trust during the 2nd quarter valued at about $55,000. Institutional investors and hedge funds own 19.45% of the company's stock.
About Lument Finance Trust
(
Get Free Report)
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.
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