Lument Finance Trust, Inc. to Issue Quarterly Dividend of $0.06 (NYSE:LFT)

Lument Finance Trust, Inc. (NYSE:LFT – Get Rating) announced a quarterly dividend on Thursday, March 16th, Zacks reports. Stockholders of record on Friday, March 31st will be paid a dividend of 0.06 per share by the technology company on Monday, April 17th. This represents a $0.24 annualized dividend and a dividend yield of 12.37%. The ex-dividend date of this dividend is Thursday, March 30th.

Lument Finance Trust Price Performance

LFT stock opened at $1.94 on Friday. The firm has a 50 day moving average of $2.10 and a 200-day moving average of $2.12. The company has a current ratio of 9.81, a quick ratio of 9.81 and a debt-to-equity ratio of 4.66. The firm has a market capitalization of $101.33 million, a P/E ratio of 9.70 and a beta of 1.17. Lument Finance Trust has a 12 month low of $1.84 and a 12 month high of $3.05.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Jonestrading reduced their price target on shares of Lument Finance Trust from $3.50 to $3.00 in a research report on Monday, December 19th. Piper Sandler decreased their target price on Lument Finance Trust from $2.25 to $2.00 in a research note on Friday, December 16th.

Hedge Funds Weigh In On Lument Finance Trust

A number of hedge funds and other institutional investors have recently modified their holdings of LFT. SVB Wealth LLC purchased a new stake in shares of Lument Finance Trust in the 2nd quarter valued at $54,000. Charles Schwab Investment Management Inc. purchased a new stake in Lument Finance Trust during the first quarter valued at about $66,000. Northern Trust Corp grew its stake in shares of Lument Finance Trust by 115.2% during the first quarter. Northern Trust Corp now owns 68,495 shares of the technology company’s stock valued at $188,000 after buying an additional 36,668 shares during the last quarter. State Street Corp increased its holdings in shares of Lument Finance Trust by 89.5% in the second quarter. State Street Corp now owns 82,360 shares of the technology company’s stock worth $201,000 after buying an additional 38,898 shares during the period. Finally, Citigroup Inc. bought a new stake in shares of Lument Finance Trust in the 1st quarter valued at about $331,000. 20.58% of the stock is currently owned by hedge funds and other institutional investors.

About Lument Finance Trust

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Lument Finance Trust, Inc operates as a real estate investment finance company, which engages in investing, financing, and managing a portfolio of commercial real estate (CRE) debt investments. It primarily invests in transitional floating rate commercial mortgage and other CRE-related investments such as preferred equity, commercial mortgage-backed securities, mezzanine, fixed rate, and construction loans and, other CRE debt instruments.