Lument Finance Trust (NYSE:LFT) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Lument Finance Trust, Inc. (NYSE:LFT)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.61 and traded as high as $2.82. Lument Finance Trust shares last traded at $2.77, with a volume of 113,697 shares changing hands.

Lument Finance Trust Price Performance

The stock has a market capitalization of $144.63 million, a price-to-earnings ratio of 7.68 and a beta of 1.05. The company’s 50-day simple moving average is $2.70 and its 200-day simple moving average is $2.61. The company has a debt-to-equity ratio of 5.39, a current ratio of 6.29 and a quick ratio of 6.29.

Lument Finance Trust (NYSE:LFT) last released its quarterly earnings results on Wednesday, March 19th. The technology company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. Lument Finance Trust had a return on equity of 14.41% and a net margin of 18.19%. The business had revenue of $9.55 million during the quarter, compared to analysts’ expectations of $8.89 million. Research analysts forecast that Lument Finance Trust, Inc. will post 0.42 earnings per share for the current fiscal year.

Lument Finance Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 11.57%. Lument Finance Trust’s payout ratio is presently 91.43%.

Hedge Funds Weigh In On Lument Finance Trust

A number of hedge funds have recently bought and sold shares of LFT. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Lument Finance Trust by 72.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,198 shares of the technology company’s stock valued at $66,000 after purchasing an additional 11,001 shares during the period. Glenmede Trust Co. NA acquired a new stake in shares of Lument Finance Trust in the third quarter valued at approximately $85,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Lument Finance Trust in the third quarter valued at approximately $32,000. Barclays PLC acquired a new stake in Lument Finance Trust during the third quarter worth approximately $120,000. Finally, Geode Capital Management LLC increased its stake in Lument Finance Trust by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 438,953 shares of the technology company’s stock worth $1,111,000 after acquiring an additional 11,718 shares during the period. 19.45% of the stock is owned by institutional investors.

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.