Lument Finance Trust (NYSE:LFT) stock rating downgraded by Piper Sandler
Lument Finance Trust (NYSE: LFT – Get a rating) was downgraded by stock analysts Piper Sandler from an “overweight” rating to a “neutral” rating in a research note released Tuesday, Fly reports. They currently have a price target of $2.75 on shares of the tech company, down from their previous price target of $3.00. Piper Sandler’s target price would suggest a potential upside of 7.42% from the company’s previous close.
Separately, JMP Securities reissued a “buy” rating and set a price target of $3.25 on shares of Lument Finance Trust in a research note on Friday, August 19. Two analysts gave the stock a hold rating and three gave the stock a buy rating. According to MarketBeat.com, Lument Finance Trust currently has an average rating of “Moderate Buy” and a consensus price target of $3.56.
Lument Finance Trust trades down 1.9%
Lument Finance Trust shares opened at $2.56 on Tuesday. Lument Finance Trust has a 12 month minimum of $2.25 and a 12 month maximum of $4.19. The company has a current ratio of 11.25, a quick ratio of 11.25 and a debt ratio of 4.58. The stock has a market capitalization of $133.71 million, a PE ratio of 10.67 and a beta of 1.16. The company has a 50-day moving average of $2.53 and a 200-day moving average of $2.67.
Hedge funds weigh on Lument Finance Trust
Several hedge funds and other institutional investors have recently changed their positions in LFT. KG&L Capital Management LLC acquired a new equity position in Lument Finance Trust during Q1 worth $33,000. SVB Wealth LLC acquired a new position in Lument Finance Trust in Q2 worth $54,000. Charles Schwab Investment Management Inc. acquired a new position in Lument Finance Trust in Q1 worth $66,000. Raymond James Financial Services Advisors Inc. acquired a new position in Lument Finance Trust in Q4 worth $70,000. Finally, Northern Trust Corp increased its stake in Lument Finance Trust by 115.2% in the 1st quarter. Northern Trust Corp now owns 68,495 shares of the technology company worth $188,000 after buying 36,668 more shares last quarter. Institutional investors and hedge funds hold 48.39% of the company’s shares.
About Lument Finance Trust
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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