Lument Finance Trust, Inc. (NYSE: LFT – Get a rating) saw strong growth in short-term interest during the month of August. As of August 31, there were short interests totaling 77,200 shares, a growth of 38.4% from the total of 55,800 shares as of August 15. Based on an average daily volume of 48,000 shares, the short interest ratio is currently 1.6 days.
Analysts set new price targets
Several equity research analysts have published reports on LFT stocks. Piper Sandler cut shares of Lument Finance Trust from an “overweight” rating to a “neutral” rating and lowered her price target for the stock from $3.00 to $2.75 in a research note from the Tuesday August 30. JMP Securities reaffirmed a “buy” rating and set a price target of $3.25 on shares of Lument Finance Trust in a Friday, August 19 research note. Finally, B. Riley cut his price target on shares of Lument Finance Trust from $4.50 to $3.50 and set a “buy” rating on the stock in a Thursday, September 8 report. Two research analysts gave the stock a hold rating and three gave the stock a buy rating. According to MarketBeat, Lument Finance Trust currently has an average rating of “Moderate Buy” and a consensus price target of $3.31.
Lument Finance Trust trades up 3.4%
Shares of LFT rose $0.08 during Friday trading hours, hitting $2.43. 160,926 shares of the company were traded, against an average volume of 31,697. The company has a market capitalization of $126.92 million, a PE ratio of 10.13 and a beta of 1.16. Lument Finance Trust has a 1 year minimum of $2.25 and a 1 year maximum of $4.18. The company has a quick ratio of 11.25, a current ratio of 11.25 and a leverage ratio of 4.58. The company has a fifty-day moving average of $2.53 and a 200-day moving average of $2.61.
Lument Finance Trust announces dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17. Shareholders of record on Friday, September 30 will receive a dividend of $0.06 per share. The ex-date of this dividend is Thursday, September 29. This represents an annualized dividend of $0.24 and a dividend yield of 9.88%. Lument Finance Trust’s payout ratio is currently 100.00%.
Institutional entries and exits
Several large investors have recently changed their LFT holdings. KG&L Capital Management LLC acquired a new position in Lument Finance Trust in the first quarter worth approximately $33,000. SVB Wealth LLC bought a new position in Lument Finance Trust in the second quarter worth approximately $54,000. Charles Schwab Investment Management Inc. acquired a new position in Lument Finance Trust in the first quarter worth approximately $66,000. Raymond James Financial Services Advisors Inc. acquired a new position in Lument Finance Trust in the fourth quarter worth approximately $70,000. Finally, Northern Trust Corp increased its stake in Lument Finance Trust by 115.2% in the first quarter. Northern Trust Corp now owns 68,495 shares of the technology company valued at $188,000 after buying an additional 36,668 shares during the period. 48.39% of the shares are currently held by hedge funds and other institutional investors.
Lument Finance Trust Company Profile
Lument Finance Trust, Inc, a real estate investment trust, is focused on investing, financing and managing a portfolio of commercial real estate (CRE) investments in the United States. The Company invests primarily in transitional variable rate commercial mortgages on mid-market multi-family assets; and other CRE-related investments, including mezzanine loans, preferred stocks, commercial mortgage-backed securities, fixed rate loans, construction loans, and other CRE debt instruments.
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