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

Lument Finance Trust, Inc. (NYSE:LFT)’s stock is 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 market closes on Wednesday, September 9th.

Lument Finance Trust Price Performance

NYSE LFT opened at $0.72 on Friday. Lument Finance Trust has a 12 month low of $0.58 and a 12 month high of $2.37. The firm has a market capitalization of $37.89 million, a PE ratio of -2.01 and a beta of 0.57. The company’s 50 day simple moving average is $0.78 and its 200 day simple moving average is $1.06. The company has a debt-to-equity ratio of 6.11, a current ratio of 5.98 and a quick ratio of 5.98.

Lument Finance Trust (NYSE:LFT) last announced its earnings results on Thursday, August 13th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.16). The firm had revenue of ($13.37) million for the quarter, compared to the consensus estimate 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 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 paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 22.2%. The ex-dividend date of this dividend was Tuesday, June 30th. Lument Finance Trust’s payout ratio is currently -44.44%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Lument Finance Trust

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Lument Finance Trust by 0.7% in the third quarter. Vanguard Group Inc. now owns 1,907,084 shares of the technology company’s stock worth $3,852,000 after buying an additional 12,624 shares during the last quarter. Melia Wealth LLC bought a new position in shares of Lument Finance Trust in the second quarter valued at $1,308,000. Geode Capital Management LLC lifted its position in shares of Lument Finance Trust by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 1,099,134 shares of the technology company’s stock valued at $1,550,000 after acquiring an additional 30,855 shares during the last quarter. State Street Corp lifted its position in shares of Lument Finance Trust by 4.2% during the 4th quarter. State Street Corp now owns 454,684 shares of the technology company’s stock valued at $659,000 after acquiring an additional 18,122 shares during the last quarter. Finally, BlackRock Inc. bought a new stake in shares of Lument Finance Trust during the 2nd quarter worth $344,000. 19.45% of the stock is currently owned by institutional investors.

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.