Lument Finance Trust Stock (NYSE:LFT), Trade Ideas

Lument Finance Trust

Lument Finance Trust Inc operates as a real estate investment trust. The company is engaged in investment, financing, and management of a portfolio of commercial real estate debt investments. It invests in transitional floating-rate commercial real estate mortgage loans, mezzanine loans, preferred equity, commercial mortgage-backed securities, fixed-rate loans, construction loans, and other CRE debt instruments.

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Mortgage REITs Are Making A Comeback

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The Dow Jones index closed higher by around 10 points on Thursday. When insiders purchase or sell shares, it indicates their confidence or concern around the company&#39;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Retractable Technologies And 3 Other Stocks Under $3 Insiders Are Buying

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The 5 Best-Performing REITs Under $5

Lument Finance Trust Inc

LAZARD FINTECH ACQUISITION CORP. I

Li-FT Power Ltd

LIFETECH SCIENTIFIC CORP by LIFETECH SCIENTIFIC CORPORATION

LifeTech Scientific Corp

Lument Finance Trust, Inc. 7.875% Series A Cumulative Redeemable Preferred Stock

BMO Capital analyst Katja Jancic maintains Nucor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) with a Market Perform and lowers the price target from $210 to $200.

Price Target

Analyst Ratings

BMO Capital Maintains Market Perform on Nucor, Lowers Price Target to $200

During the NFL Draft excitement on Thursday (April 25), Detroit&#8217;s very own Calvin Johnson Jr., affectionately known as &#8220;Megatron,&#8221; will captivate attendees at <a href="https://www.benzinga.com/nfldraft/">Benzinga Sports Business Titans event.</a> 
Set against the backdrop of downtown Detroit&#8217;s Campus Martius, Johnson will unveil how he parlayed his NFL career into a flourishing entrepreneurial venture. 
<h1 class="wp-block-heading">Johnson&#8217;s Impactful Career</h1>
Johnson, an exceptional talent on the field, played nine seasons with the Detroit Lions, where he set multiple records, including single-season receiving yards in 2012. His prowess led to his induction into the College and Pro Football Halls of Fame in 2018 and 2021, respectively. 
Johnson&#8217;s career was distinguished by his formidable combination of size, speed and catching ability, making him one of the most formidable receivers in the league.
<h1 class="wp-block-heading">Transition To Business And Philanthropy&nbsp;</h1>
Since retiring in 2015, Johnson entered the business world and engaged in various charitable efforts. His work with Primitiv Group highlights his transition from sports icon to business leader, focusing on innovative applications of cannabis for therapeutic purposes. Johnson&#8217;s dedication to community welfare is evident in his support for educational and health-related initiatives.
<h1 class="wp-block-heading">Why Attend The Event</h1>
Benzinga is a leader in the events space. It has the experience to connect its audience with speakers, panelists, and other attendees. The financial media company has organized 32 &#8220;Business Titans&#8221; events and is known globally for its popular, high-profile gatherings.
The Benzinga Sports Business Titans event features a strong lineup of speakers from the sports and business worlds. Each guest will share their journeys of entrepreneurship and investments. Athletes, social media stars, and business leaders will share advice and provide a behind-the-scenes look at how sports and business often intersect.&nbsp;<a href="https://www.benzinga.com/nfldraft/" target="_blank" rel="noreferrer noopener">Get tickets here</a>.
Photo: <a href="https://commons.wikimedia.org/wiki/File:Calvin_Johnson_at_the_Detroit_Lions_training_camp_2012_3.jpg">Kevind810</a>&nbsp;via Wikimedia Commons&nbsp;

Sports

Events

Calvin Johnson Joins Benzinga Sports Business Titans Conference: How To Convert Sports Excellence Into Corporate Triumph

<h4>Key Takeaways:</h4>
<ul>
<li>EHang said it plans to sell up to $100 million worth of new shares in New York, more than double the amount it raised in its 2019 IPO</li>
<li>The company is getting close to commercializing its self-flying aircraft, including its recent receipt of a regulatory certificate allowing it to mass-produce its flagship product</li>
</ul>
By Warren Yang
EHang Holdings Ltd.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eh#NASDAQ">EH</a>) is getting set to refuel as it makes what appears to be a final taxiing move before taking flight.
In&nbsp;<a href="https://www.sec.gov/Archives/edgar/data/1759783/000119312524102861/d759076df3asr.htm">a stock exchange filing</a>&nbsp;last Friday, the maker of autonomous aerial vehicles unveiled a plan to raise up to $100 million from a public offering of its American depository shares (ADS). That&rsquo;s a substantial amount for the company, more than three times its cash holdings as of the end of last year. It&rsquo;s also more than double the amount of funds it raised in its IPO in 2019, and nearly a tenth of its current market cap.
EHang has been busy clearing regulatory hurdles to sell its unmanned flying vehicles for commercial operations, which means that it remains reliant on external capital to fund its money-losing operations. But it&rsquo;s inching closer to bringing its products to market after receiving a critical &ldquo;type certificate&rdquo; for its main product from China&rsquo;s aviation regulator last October. As it taxis towards the finish line, the company appears to think it&rsquo;s a good time to tap investors to raise funds that it will need to mass produce its products in the not-too-distant future.
After all, despite its recent advances, it may still be a while before EHang becomes profitable enough to self-fund its own operations. So, the company appears to be striking while the iron is hot, taking advantage of positive investor sentiment to raise new funds.
EHang is no stranger to capital raising, which it has used to fund its money-losing operations since its founding in 2014. The new public equity offering comes less than a year after the company sold $23 million of shares in a private placement to a group led by South Korean music producer Lee Soo Man, who founded big-time K-pop label SM Entertainment (041510.KS).
While these fund-raising efforts are underway, EHang continues to tick more boxes required to commercialize its flying vehicles. Earlier this month, the company&nbsp;<a href="https://thebambooworks.com/fast-news-ehangs-aerial-vehicle-approved-for-production/">received a &ldquo;production certificate&rdquo;</a>for its EH216-S passenger aircraft from the Civil Aviation Administration of China, building on the type certificate it obtained about six months earlier. The production certificate allows EHang to mass-produce EH216-S. That moves it one step closer to start delivering aircraft to the companies that have placed orders &ndash; many that were contingent on the company getting necessary regulatory approvals.
EHang&rsquo;s revenue jumped 165% to 117 million yuan ($16.5 million) last year from 2022 as it delivered more units in the EH216 series. In 2023, it shipped 52 vehicles, bringing the total tally to 237 as of the end of the year, the bulk of which are the EH216-S.
The aircraft EHang has delivered so far are mostly used for trial operations in tourist sites across China. But the company is slowly building up its overseas order book as well. After winning its first overseas contracts in South Korea and Indonesia in 2021, it expanded its international customer base to 10 countries by the end of last year, including Japan, Brazil, Columbia, Saudi Arab and Qatar. Still, the total number of units sold outside China remains tiny.
<h4>Narrowing losses</h4>
Despite the surge in EHang&rsquo;s revenue, its net loss narrowed by only a modest 8% last year, as its operating expenses continued to vastly exceed its small revenue base. But its actual loss of cash from operations nearly halved to about $12 million because a large chunk of its net loss last year stemmed from non-cash expenses, such as share-based compensation.
The company&rsquo;s finances are likely to improve further once the commercialization of its aircraft gets underway and revenue growth starts to accelerate. EHang&rsquo;s revenue is projected to more than triple this year and more than double from that next year, according to a consensus of analysts put together by Seeking Alpha. Most significantly, analysts expect the company to start turning a profit in 2025.
Not everyone is so bullish on EHang, however. Last November, the company became ensnared in a short-selling attack by Hindenburg Research. The U.S. firm, which specializes in forensic research on companies it suspects of misleading investors, is perhaps best known for its 2020 campaign against Nikola Corp., an American electric truck maker. At that time, Hindenburg accused Nikola of being deceptive about its technological capabilities, eventually leading to regulatory investigations and the resignation of the company&rsquo;s founder.
As for EHang, Hindenburg claimed that the company&rsquo;s much-touted type certificate for the EH216-S included numerous flight restrictions that it didn&rsquo;t fully disclose to investors. It argued that those limitations invalidate many of the vehicle&rsquo;s potential commercial use cases, including flying in densely populated areas and shared airspace, which would require a billion-dollar redesign and a completely different type of certificate to address. Hindenburg went so far to say that more than 90% of EHang&rsquo;s pre-orders were based on &ldquo;dead&rdquo; or abandoned deals, or with failed partnerships and newly formed entities with no discernible operations.
EHang issued a relatively short statement saying the report included &ldquo;untrue statements and misinterpretation of information&rdquo; and showed Hindenburg&rsquo;s &ldquo;cursory and incomplete understanding&rdquo; of its operations. Investors seemed to take the report in stride, with Ehang shares falling for a couple days before rebounding.
EHang shares are currently up more than a third from their IPO price, no easy feat for a U.S.-listed Chinese company in the current climate where most stocks have tanked over the last two years. The company currently commands a sky-high price-to-sale (P/S) ratio of 63 due to its limited revenue base, though that figure would come down sharply if it achieves the kind of revenue growth that analysts are forecasting over the next two years.
Given that EHang is seemingly quite close to commercialization, it probably will secure the new funding it needs now without much difficulty. That may give the company enough fuel to sustain its operations until its self-flying aircraft hit the skies en masse.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Small Cap

EHang Seeks Capital Refueling As Its Self-Flying Vehicles Inch Toward Grand Takeoff

<a href="https://www.wired.com/story/arcanedoor-cyberspies-hacked-cisco-firewalls-to-access-government-networks/">https://www.wired.com/story/arcanedoor-cyberspies-hacked-cisco-firewalls-to-access-government-networks/</a>
Network security appliances like firewalls are meant to keep hackers out. Instead, digital intruders are increasingly targeting them as the weak link that lets them pillage the very systems those devices are meant to protect. In the case of one hacking campaign over recent months, Cisco is now revealing that its firewalls served as beachheads for sophisticated hackers penetrating multiple government networks around the world.
On Wednesday, Cisco <a href="https://blog.talosintelligence.com/arcanedoor-new-espionage-focused-campaign-found-targeting-perimeter-network-devices/">warned</a> that its so-called Adaptive Security Appliances—devices that integrate a firewall and VPN with other security features—had been targeted by state-sponsored spies who exploited two <a href="https://www.wired.com/2014/11/what-is-a-zero-day/">zero-day vulnerabilities</a> in the networking giant's gear to compromise government targets globally in a hacking campaign it's calling ArcaneDoor.
The hackers behind the intrusions, which Cisco's security division Talos is calling UAT4356 and which Microsoft researchers who contributed to the investigation have named STORM-1849, couldn't be clearly tied to any previous intrusion incidents the companies had tracked. Based on the group's espionage focus and sophistication, however, Cisco says the hacking appeared to be state-sponsored.
"This actor utilized bespoke tooling that demonstrated a clear focus on espionage and an in-depth knowledge of the devices that they targeted, hallmarks of a sophisticated state-sponsored actor," a blog post from Cisco's Talos researchers reads.
Cisco declined to say which country it believed to be responsible for the intrusions, but sources familiar with the investigation tell WIRED the campaign appears to be aligned with China's state interests.
&nbsp;
Cisco says the hacking campaign began as early as November 2023, with the majority of intrusions taking place between December and early January of this year, when it learned of the first victim. "The investigation that followed identified additional victims, all of which involved government networks globally," the company's report reads.
In those intrusions, the hackers exploited two newly discovered vulnerabilities in Cisco's ASA products. One, which it's calling Line Dancer, let the hackers run their own malicious code in the memory of the network appliances, allowing them to issue commands to the devices, including the ability to spy on network traffic and steal data. A second vulnerability, which Cisco is calling Line Runner, would allow the hackers' malware to maintain its access to the target devices even when they were rebooted or updated.
Cisco has released software updates to patch both vulnerabilities, and <a href="https://sec.cloudapps.cisco.com/security/center/resources/asa_ftd_attacks_event_response">advises</a> that customers implement them immediately, along with other recommendations for detecting whether they've been targeted.
The ArcaneDoor hacking campaign represents just the latest series of intrusions to target network perimeter applications sometimes referred to as "edge" devices like email servers, firewalls, and VPNs—often devices intended to provide security—whose vulnerabilities allowed hackers to obtain a staging point inside a victim's network. Cisco's Talos researchers warn of that broader trend in their report, referring to highly sensitive networks that they've seen targeted via edge devices in recent years. "Gaining a foothold on these devices allows an actor to directly pivot into an organization, reroute or modify traffic and monitor network communications," they write. "In the past two years, we have seen a dramatic and sustained increase in the targeting of these devices in areas such as telecommunications providers and energy sector organizations—critical infrastructure entities that are likely strategic targets of interest for many foreign governments."
&nbsp;
State-sponsored hackers' shift to compromising edge devices has become prevalent enough over the past year that Google-owned security firm Mandiant also <a href="https://therecord.media/chinese-russian-hackers-edge-devices">highlighted it in its annual M-Trends report</a> earlier this week, based on the company's threat intelligence and incident response findings. The report points to widely exploited vulnerabilities in network edge devices sold by Barracuda and Ivanti and notes that hackers—and specifically espionage-focused Chinese groups—are building custom malware for edge devices, in part because many networks have little or no way to monitor for compromise of the devices.
"They're systemically targeting security appliances that sit on the edge for access to the rest of the network," says John Hultquist, Mandiant's head of threat intelligence. "This is no longer an emerging trend. It's established."
Mandiant notes that it has observed Russian state-sponsored hackers targeting edge devices too: It's observed the unit of Russia's GRU military intelligence agency, known as Sandworm, <a href="https://www.wired.com/story/russia-ukraine-cyberattacks-mandiant/">repeatedly hack edge devices</a> used by Ukrainian organizations to gain and maintain access to those victim networks, often for data-destroying cyberattacks. In some cases, the lack of visibility and monitoring in those edge devices has meant that Sandworm was able to wipe a victim network while holding on to its control of an edge device—then hit the same network again.
Hultquist notes, however, that China is unmatched in its discovery and use of network appliance zero days, like the ones it has used to run rampant through Cisco firewalls over the past several months. He expects more to come, as China's cyberspies continue to turn devices meant to protect target networks against their owners. "It's unlikely these zero days are being produced haphazardly. We suspect a well-resourced, coordinated effort is underway to find and exploit these vulnerabilities," Hultquist says. "Unfortunately, we'll almost certainly see several more zero-days in security&nbsp;appliances this year."

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CSCO

"'ArcaneDoor' Cyberspies Hacked Cisco Firewalls To Access Government Networks; Sources Suspect China Is Behind The Targeted Exploitation Of Two Zero-Day Vulnerabilities In Cisco's Security Appliances" - Wired

Stephens &amp; Co. analyst Justin Long reiterates Canadian National Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) with a Equal-Weight and maintains $140 price target.

Reiteration

Stephens & Co. Reiterates Equal-Weight on Canadian National Railway, Maintains $140 Price Target

BMO Capital analyst Etienne Ricard reiterates Invesco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVZ#NYSE">IVZ</a>) with a Market Perform and lowers the price target from $18 to $17.

BMO Capital Reiterates Market Perform on Invesco, Lowers Price Target to $17

Owens Corning Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>) reported a <a href="https://www.benzinga.com/pressreleases/24/04/b38398246/owens-corning-delivers-net-sales-of-2-3-billion-generates-net-earnings-of-299-million-and-adjusted" target="_blank" rel="noreferrer noopener">first-quarter fiscal 2024</a> net sales decline of 1% year-over-year to $2.3 billion, beating the consensus of $2.28 billion.
<ul>
<li>Sales by segments: Composites $523 million (-11% Y/Y), Insulation $904 million (-2% Y/Y), and Roofing $957 million (+7% Y/Y).</li>
<li>Adjusted EPS was $3.59, up from $2.80 a year ago, above the consensus of $3.08.</li>
<li>Adjusted EBIT increased 21.3% Y/Y to $438 million, with margin expanding to 19% from 15% prior year quarter.</li>
<li>Adjusted EBITDA rose by 16% Y/Y to $565 million, and the margin expanded to 25% from 21% a year ago.</li>
<li>Operating Cash Flow for the quarter was $24 million compared to an outflow of $164 million a year ago, and free cash outflow stood at $128 million.</li>
</ul>
<h3 class="wp-block-heading">Owens Corning Outlook</h3>
During the year, the company paid dividends of $52 million and repurchased 0.9 million shares of common stock for $130 million.
Owens Corning maintains its commitment to innovation, unveiling 13 new or enhanced products in the first quarter to bolster customer support and foster further growth.
For the second quarter of 2024, the company expects overall performance to result in net sales in line with the second quarter of 2023 while generating ~20% EBIT margins for its existing businesses.
For 2024, Owens Corning expects general corporate expenses of $240 million-$250 million and capital additions of ~$550 million.
Price Action: OC shares are trading lower by 0.82 % at $166.24 at the last check Wednesday.
Now Read: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/04/38405106/us-economy-expected-to-grow-2-5-in-q1-not-a-hard-landing-and-hardly-a-soft-one">US Economy Expected To Grow 2.5% In Q1 &#8211; Not &#8216;A Hard Landing And Hardly A Soft One&#8217;</a>

Earnings

Guidance

Owens Corning Credits Margin Expansion, Enhanced Product Lineup For Q1 Performance

Mullen Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MULN#NASDAQ">MULN</a>) shares are trading higher Wednesday. The company announced the first phase completion of battery line integration at its <a href="https://www.benzinga.com/pressreleases/24/04/g38356943/mullens-new-high-energy-facility-marks-phase-one-completion-of-battery-pack-assembly-line">high energy facility on Monday</a>.
The Details:
Mullen said the phase one project culminated in the successful startup, debugging, and early-stage commissioning of the initial two battery assembly lines. Production line start is currently targeted for early 2025 and at volume production, Mullen expects to hire over 200 people for both battery production and operational support.
&#8220;Our new battery assembly plant is not just an investment in Mullen Automotive&#8217;s future, but also a testament to our commitment towards U.S. battery production,&#8221; said David Michery, CEO of Mullen Automotive. &#8220;Battery packs are a critical part of our supply chain as it strengthens our market position and supports the transition to American-made battery components.&#8221;
Last week, Mullen <a href="https://www.benzinga.com/pressreleases/24/04/g38312416/mullen-achieves-manufacturing-milestone-with-500th-commercial-vehicle-produced">announced</a> the production of its 500th commercial electric vehicle.&nbsp;
"We have increased requests for our vehicles internationally, and as a result, we plan to launch an expansion into Europe next month,&#8221; said Michery. &#8220;In addition to international growth, we plan to expand U.S. distribution, adding new dealer points to support commercial EV market penetration.&#8221;
According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, nearly 10 million shares have already been traded in the session and 25.04% of shares are being sold short. High short interest can contribute to large price moves when combined with heavy trading volume.&nbsp;
Related News: <a href="https://www.benzinga.com/news/24/04/38360358/whats-going-on-with-luxury-ev-maker-lucids-stock">What&#8217;s Going On With Luxury EV-Maker Lucid&#8217;s Stock?</a>
<h2 class="wp-block-heading">How To Buy MULN Stock:</h2>
By now you're likely curious about how to participate in the market for Mullen Automotive &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stocks, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so. 
In the the case of Mullen Automotive, which is trading at $3.93 as of publishing time, $100 would buy you 25.77 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
MULN Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Mullen Automotive shares are up 44% at $3.93 at the time of publication Wednesday.
Image: Courtesy of Mullen Automotive, Inc.&nbsp;

Movers

MULN

What's Going On With EV-Maker Mullen Automotive's Stock?

WIIM

PepsiCo shares are trading higher, reversing after falling Tuesday on Q1 earnings.

Bitcoin&#39;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)&nbsp;fourth halving event may have resulted in the digital asset decisively surpassing gold in terms of issuance scarcity, according to Glassnode analysts. &quot;The fourth halving marks a significant milestone in the comparison of bitcoin to Gold, as for the first time in history, bitcoin&#39;s steady-state issuance rate (0.83%) becomes lower than Gold ( around 2.3%), marking a historic handover in the title of scarcest asset&quot; Glassnode analysts said.
Read the <a href="https://www.theblock.co/post/290633/bitcoins-issuance-rate-drops-below-golds-after-recent-halving-glassnode?utm_source=benzinga&amp;utm_medium=rss&amp;utm_campaign=Bitcoin%27s+issuance+rate+drops+below+gold%27s+after+recent+halving%3A+Glassnode">full story</a> at The Block.

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

Bitcoin's Issuance Rate Drops Below Gold's After Recent Halving: Glassnode

Stephens &amp; Co. analyst Charles Nabhan reiterates Fiserv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>) with a Equal-Weight and maintains $165 price target.

Stephens & Co. Reiterates Equal-Weight on Fiserv, Maintains $165 Price Target

Humana (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hum#NYSE">HUM</a>) came out with quarterly earnings of $7.23 per share, beating the Zacks Consensus Estimate of $6.02 per share. This compares to earnings of $9.38 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 20.10%. A quarter ago, it was expected that this health insurer would post a loss of $0.07 per share when it actually produced a loss of $0.11, delivering a surprise of -57.14%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Humana, which belongs to the Zacks Medical - HMOs industry, posted revenues of $29.33 billion for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 2.55%. This compares to year-ago revenues of $26.74 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Humana shares have lost about 28.4% since the beginning of the year versus the S&amp;P 500&#39;s gain of 6.3%.
What&#39;s Next for Humana?
While Humana has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Humana: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $5.74 on $28.06 billion in revenues for the coming quarter and $16.06 on $112.26 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - HMOs is currently in the bottom 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Centene (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cnc#NYSE">CNC</a>), is yet to report results for the quarter ended March 2024. The results are expected to be released on April 26.
This healthcare company is expected to post quarterly earnings of $2.09 per share in its upcoming report, which represents a year-over-year change of -1%. The consensus EPS estimate for the quarter has been revised 5.4% higher over the last 30 days to the current level.
Centene&#39;s revenues are expected to be $36.41 billion, down 6.4% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2260830/humana-hum-tops-q1-earnings-and-revenue-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2260830">To read this article on Zacks.com click here.</a>

Humana Tops Q1 Earnings and Revenue Estimates

Boston Scientific (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bsx#NYSE">BSX</a>) came out with quarterly earnings of $0.56 per share, beating the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $0.47 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 9.80%. A quarter ago, it was expected that this medical device manufacturer would post earnings of $0.51 per share when it actually produced earnings of $0.55, delivering a surprise of 7.84%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Boston Scientific, which belongs to the Zacks Medical - Products industry, posted revenues of $3.86 billion for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 4.85%. This compares to year-ago revenues of $3.39 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Boston Scientific shares have added about 19.3% since the beginning of the year versus the S&amp;P 500&#39;s gain of 6.3%.
What&#39;s Next for Boston Scientific?
While Boston Scientific has outperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Boston Scientific: unfavorable. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.56 on $3.93 billion in revenues for the coming quarter and $2.25 on $15.55 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Products is currently in the bottom 40% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, BioLife Solutions, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blfs#NASDAQ">BLFS</a>), has yet to report results for the quarter ended March 2024.
This company is expected to post quarterly loss of $0.26 per share in its upcoming report, which represents a year-over-year change of +18.8%. The consensus EPS estimate for the quarter has been revised 40.9% lower over the last 30 days to the current level.
BioLife Solutions, Inc.&#39;s revenues are expected to be $29.3 million, down 22.3% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2260824/boston-scientific-bsx-q1-earnings-and-revenues-top-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2260824">To read this article on Zacks.com click here.</a>

BLFS

Boston Scientific Q1 Earnings and Revenues Top Estimates

<div>The U.S. Postal Service plans to shift daily air cargo volumes to UPS before the contract with FedEx expires in September to ensure no service interruption for customers heading into the busy holiday shipping season, the agency and company officials said Tuesday. </div>

UPS' (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ups#NYSE">UPS</a>) ability to leverage its integrated air-and-ground network and bypass its main sort hub in Louisville, Kentucky, will enable the integrated express carrier to better profit from transporting domestic airmail for the U.S. Postal Service than its predecessor, executives said during an earnings briefing for analysts.

Atlanta-based UPS wrested the Postal Service's primary air cargo business from FedEx earlier this month and is working to transition all the first-class mail, Priority Mail and Priority Express volume to its network before the FedEx (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdx#NYSE">FDX</a>) contract ends Sept. 29, management said.

The Postal Service next month will implement a detailed plan to begin migrating the business from FedEx to UPS, spokeswoman Sue Brennan said in an emailed statement.

"The process will continue to evolve throughout the summer and be completed in advance of the contract expiration. UPS is currently an active air cargo supplier and has been moving packages for the Postal Service for many years" she said.

CEO Carol Tomé said the U.S. Postal Service contract "fits beautifully with our strategy to grow our B2B business" and will immediately contribute to top-line growth with minimal need for additional investments. The postal contract has a five-and-a-half year minimum base term that is projected to generate about $1.5 billion in annual revenue. 

The world's largest parcel carrier expects to support the Postal Service with existing assets and move the majority of mail volume within the current domestic daytime flight operation. It said its meshed network will allow some packages to move locally and regionally, reducing the distance traveled.

"In contrast to traditional hub-and-spoke models, we don't have to run all of the air volume through our main air hub. Of course, we will use Worldport [in Louisville], but we will also use our regional gateways. That allows for splits to occur outside of the network. So containers will be built at origin and then we will bypass the main hub and go point to point" said Tomé. "This is an integrated solution that's very different I think than what the former provider offered."

FedEx Express' daytime flights connect through its global hub in Memphis, Tennessee.

UPS will also use its extensive ground network for packages that can be delivered more cheaply and still meet service commitments, something FedEx had limited ability to do because it ran separate Express and Ground parcel networks. FedEx was stuck with too many aircraft dedicated to daytime routes as postal volumes shrank in recent years, making it difficult to turn a profit.

The chief executive said UPS will hire fewer than 200 pilots to support the postal business but won't need to purchase any aircraft. FreightWaves first reported that UPS was recruiting more pilots. A UPS spokesperson on April 1 said the company had job openings for 170 pilots. The union representing flight crews said it was told that more than 300 pilots could eventually be hired.

Adding Postal Service cargo volume to the existing network will improve operating and consolidated margins by increasing density without requiring extra infrastructure, sending revenue to the bottom line, management said. Most of the network costs will be allocated to the Supply Chain Solutions unit. 

The contract has minimum guarantees to ensure Postal Service parcels feed the network.

UPS is working to onboard the postal volume by the peak holiday shipping season this fall. "Our operators and engineers are already planning the network to support the complete transition to UPS in the third quarter" CFO Brian Newman said. The company is meeting weekly with the agency in Washington to smooth the transition for the busy period, added Matt Guffey, chief commercial and strategy officer.

The Postal Service contract is a nice pick up for UPS, said Tom Nightingale, CEO of AFS Logistics, which specializes in parcel, less-than-truckload, freight audit and payment, and transportation management. 

"It likely is not exceptionally profitable, but is what we would refer to as ballast — keeping the ship upright. The USPS is a good-paying customer, with its predictable, consistent freight. As an intelligent pricing organization, UPS probably priced it very smartly" he told FreightWaves last week. "They know what they're getting into. Large government contracts such as this have plenty of transparency in the bidding process, so UPS would not be getting into this contract foolishly or haphazardly."

Some investors remain skeptical "that a breakeven (at best) contract at FedEx became a double digit margin contract at UPS" Morgan Stanley analyst Ravi Shanker said in a research note.  

In another development related to UPS' airline, Tomé announced that UPS last quarter launched next-day flights between Shenzhen, China, and Sydney to grow premium international business. The additional flights will speed up transit times between 11 Asian markets and Australia, mostly benefiting shippers in high tech, manufacturing and health care. 

Results get better after Q1

The parcel market continues to face decreasing demand, with FedEx and UPS prioritizing operational efficiency, including large network adjustments and cost reduction. 

UPS reported a sharp decline in first-quarter profit, but the results were better than expected as efficiency gains offset continued declines in parcel and freight volumes. Adjusted operating profit fell 31.5% to $1.75 billion, or $1.43 per share. Revenue of $21.7 billion was 5.3% lower than the same period last year and $180 million below analysts' target. At least one analyst noted that expectations have been lowered so much in the past nine months that beating Wall Street isn't a major turning point. 

Management signaled in March that the first quarter would be the worst period and that results will improve as the year progresses, in part because the initial increase of the new Teamsters labor contract is being heavily absorbed in the first 12 months of the deal.

Management continues to expect earnings before interest and taxes to decline 20 to 30% year over year in the first half and grow by a similar amount in the second half of 2024. Revenue guidance for the year remains at $92 billion to $94.5 billion.

Domestic revenue declined 5% to $14.2 billion, with operating profit plunging 43.7% to $825 million, mostly due to a 3.2% reduction in average daily volume and some softening in yields. The 5.8% operating margin beat estimates. Next Day Air and deferred air volumes fell more than 8%, continuing the shift from air to ground as customers prioritize cost savings over transit times. 

UPS said the rate of decline in daily volumes slowed as the quarter progressed, ending with March volumes only down 1% year over year. Sequentially, volume declines were much better than in the fourth quarter of 2023 as the company was able to win new business.

The international business unit posted a 15.4% operating margin as a 5.8% decrease in daily volume brought revenue down 6.3%. Two-thirds of the decline came from lower domestic volumes, led by declines in Canada and Europe. Weak manufacturing in Europe helped to push down export volume by 3.6%. Asia exports were down 4.8%, an improvement from the prior quarter as shipments from China to the U.S. increased nearly 13%.

Supply Chain Solutions, which encompasses all of UPS' nonpackage operations, saw revenues slide 5.3% to $3.2 billion, with operating profit of $132 million down 46.5% year over year. The decline was primarily due to a 15% decline in freight forwarding revenue related to the recovery of the airfreight and ocean markets. 

Areas UPS is targeting for growth include premium segments such as health care, small business, returns and oversized products.

During the quarter, UPS launched a delivery service for big and bulky items, like grills and furniture, that don't fit in the small package network through its Roadie subsidiary, a crowdsourced delivery platform. The big and bulky segment is highly fragmented and has a market value of $60 billion.

UPS was able to cut domestic operating expenses by 8% by closing 18 sort centers, lowering flight hours by 15%, eliminating about 5,400 positions and reducing purchased transportation by 17%, Newman said. The company revealed plans at Investor Day last month to close 200 sort centers over five years. Earlier this year, it said it planned to eliminate 12,000 jobs.

The post <a href="https://www.freightwaves.com/news/us-postal-service-to-migrate-air-cargo-to-ups-during-summer">US Postal Service to migrate air cargo to UPS during summer</a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.

US Postal Service to Migrate Air Cargo to UPS During Summer

Otis Worldwide Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OTIS#NYSE">OTIS</a>) reported&nbsp;first-quarter fiscal 2024&nbsp;sales growth of 2.7% year-over-year to $3.437 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38398442/otis-reports-first-quarter-2024-results" rel="noreferrer noopener">missing the consensus of $3.455 billion.</a>
Adjusted operating profit increased to $561 million from $518 million, and the margin expanded by 80 bps to 16.3%, led by favorable segment performance and mix.
New Equipment sales of $1.28 billion fell 2.1% Y/Y. Operating margin expanded 20 bps to 5.5%. New Equipment orders declined 10% Y/Y at constant currency due to weakness in the Americas and China. The&nbsp;new&nbsp;equipment backlog fell by 2% in the quarter.
Service sales increased 5.8% Y/Y to $2.157 billion, and the operating margin expanded 70 bps to 24.2%
The Farmington, Connecticut-based company&#8217;s maintenance portfolio units increased by 4.1%; Mod orders were up 13% Y/Y, and backlog was up 15% Y/Y at constant currency.
Adjusted EPS improved to $0.88 from $0.80 a year ago,&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beating the consensus of $0.87.</a>
Otis&#8217;s cash flow from operations of $171 million for the quarter decreased by $107 million Y/Y, and the adjusted free cash flow was $155 million. The company repurchased shares of $300 million during the quarter.
&#8220;After delivering a strong first quarter, we are raising our EPS outlook driven by operational performance and increasing our share repurchase target to $1 billion for the year. With confidence in our long-term strategy, we have raised the quarterly dividend 14.7%, reinforcing our commitment to creating shareholder value,&#8221; commented Judy Marks, Chair, CEO &amp; President.
Yesterday, Otis declared a quarterly dividend of&nbsp;$0.39&nbsp;per share of common stock, representing a&nbsp;14.7%&nbsp;increase. The dividend will be payable on&nbsp;June 7&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38389988" rel="noreferrer noopener">to shareholders of record on&nbsp;May 17.</a>
2024 Outlook: Otis revised its outlook for adjusted EPS to $3.83-$3.90 (prior $3.80-$3.90) versus the consensus $3.87; continues to see net sales of $14.5 billion-$14.8 billion versus the consensus of $14.70 billion, and <a href="https://www.benzinga.com/calendars/guidance">organic sales up 3%-5%</a>.
The company sees adjusted operating profit of $2.40 billion-$2.45 billion and adjusted free cash flow of ~$1.6 billion.
Price Action:&nbsp;OTIS shares are trading lower by 4.47% at $93.11 at&nbsp;the last check Wednesday.

Equities

Dividends

OTIS

What's Going On With Otis Worldwide Stock Today?

<a href="https://www.nytimes.com/2024/04/24/well/live/ozempic-cost-senate.html?searchResultPosition=1">https://www.nytimes.com/2024/04/24/well/live/ozempic-cost-senate.html?searchResultPosition=1</a>
&nbsp;

Biotech

General

"Senate Committee Investigates Ozempic And Wegovy Costs; Senator Bernie Sanders Is Pressing The Drugmaker Novo Nordisk For Details On Its Pricing Of The Popular Diabetes And Weight Loss Medications" - NY Times

UBS analyst Timothy Chiodo maintains Fiserv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>) with a Buy and raises the price target from $170 to $185.

UBS Maintains Buy on Fiserv, Raises Price Target to $185

Stephens &amp; Co. analyst Russell Gunther reiterates Wesbanco (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WSBC#NASDAQ">WSBC</a>) with a Equal-Weight and maintains $30 price target.

WSBC

Stephens & Co. Reiterates Equal-Weight on Wesbanco, Maintains $30 Price Target

BMO Capital analyst Jackie Przybylowski maintains First Quantum Minerals (TSX:<a class="ticker" href="https://www.benzinga.com/stock/FM#TSX">FM</a>) with a Outperform and lowers the price target from C$17.5 to C$17.

TSX:FM

BMO Capital Maintains Outperform on First Quantum Minerals, Lowers Price Target to C$17

Analysts' ratings for Old National (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>) over the last quarter vary from bullish to bearish, as provided by 4 analysts.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $19.75, along with a high estimate of $21.00 and a low estimate of $18.00. A 1.25% drop is evident in the current average compared to the previous average price target of $20.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1713974492_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
The standing of Old National among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jared Shaw</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$21.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Jon Arfstrom</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$18.00</td>
<td>-</td>
</tr>
<tr>
<td>Christopher Mcgratty</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$20.00</td>
<td>-</td>
</tr>
<tr>
<td>Jared Shaw</td>
<td>Barclays</td>
<td>Announces</td>
<td>Overweight</td>
<td>$20.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Old National. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Old National compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Old National's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Old National's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/ONB/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Old National analyst ratings.</a>
<h2>About Old National</h2>
Old National Bancorp with almost $10 billion in assets following its latest acquisition, Old National Bancorp is a financial services bank holding company headquartered in Indiana. Based in Evansville, Ind., Old National owns multiple financial services operations in Indiana, Illinois, and Kentucky. The company provides a group of similar community banking services, including such products and services as commercial, real estate, and consumer loans; deposits; and brokerage, trust, and investment advisory services.
<h3>A Deep Dive into Old National's Financials</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Negative Revenue Trend: Examining Old National's financials over 3 months reveals challenges. As of 31 December, 2023, the company experienced a decline of approximately -16.48% in revenue growth, reflecting a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Old National's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 27.65%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Old National's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 2.48%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 0.26%, the company showcases effective utilization of assets.
Debt Management: Old National's debt-to-equity ratio stands notably higher than the industry average, reaching 0.95. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>How Are Analyst Ratings Determined?</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Peeling Back The Layers: Exploring Old National Through Analyst Insights

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	The post <a href="https://investorplace.com/earning-results/2024/03/lft-stock-earnings-lument-finance-trust-for-q4-of-2023/">LFT Stock Earnings: Lument Finance Trust Misses EPS, Misses Revenue for Q4 2023</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

LFT Stock Earnings: Lument Finance Trust Misses EPS, Misses Revenue for Q4 2023

These Real Estate stocks are trading higher:-Re/Max Holdings Inc (RMAX) stock is trading at $8.81, a rise of $1.03, or 13.17%, on moderate volume.  Re/Max Holdings Inc gets a Sentiment Score of Neutral from InvestorsObserver and receives an average analyst recommendation of Hold with a price target of $10.75.  -Ohmyhome Lt

Real Estate Stocks Moving Thursday: RMAX, OMH, CIO, LFT, BNL, EQIX, MPW, BEKE

Lument Finance Trust Inc (LFT) is the highest overall rated company in the REIT - Mortgage industry with an overall score of 59. LFT is up 22.33% so far this year after the company closed yesterday at $2.52.  The overall score measures the company's performance based-off both short and long term indicators and means that L

Is Lument Finance Trust Inc (LFT) Stock Near the Top of the REIT - Mortgage Industry?

Lument Finance Trust Inc (LFT) leads the REIT - Mortgage industry with an overall score of 60. LFT is up 26.77% so far this year after the company closed yesterday at $2.51.  The overall score measures the company's performance based-off both short and long term indicators and means that LFT scores better than 60% of the o

Is Lument Finance Trust Inc (LFT) a Winner in the REIT - Mortgage Industry?

Despite facing challenges from rising interest rates, a potential rate cut this year should provide a favorable outlook for the mortgage real estate sector. So, fundamentally solid mortgage REITs KKR Real Estate Finance (KREF), BrightSpire Capital (BRSP), Lument Finance (LFT), and Rithm Capital (RITM) might be ideal buys for solid returns. Read more... MREITs, or mortgage real estate investment trusts, operate similarly to traditional REITs but focus on purchasing individual mortgages and mortgage-backed securities instead of physical properties. They mitigate duration risk and primarily rely on mortgage spreads for returns.
In this article, let us analyze robust mortgage REITs KKR Real Estate Finance Trust Inc. (<a href="https://stocknews.com/stock/KREF/">KREF</a>), BrightSpire Capital, Inc. (<a href="https://stocknews.com/stock/BRSP/">BRSP</a>), Lument Finance Trust, Inc. (<a href="https://stocknews.com/stock/LFT/">LFT</a>), and Rithm Capital Corp. (<a href="https://stocknews.com/stock/RITM/">RITM</a>), which could be ideal buys for massive returns.
REITs offer investors reliable income and growth potential by investing in income-producing commercial real estate. However, what makes MREITs stand out is its dividend yield. Mortgage REITs typically distribute a significant portion of their earnings as dividends, making them an attractive option for income-seeking investors.
Additionally, as the Fed holds steady on the benchmark rate and <a href="https://www.nytimes.com/live/2024/03/20/business/fed-meeting-interest-rates">hints at a potential three-quarter-percentage-point cut</a> by year-end, now is an opportune time to invest in REITs. This favorable environment, with projections for lower interest rates, boosts the rate-sensitive REIT industry. Besides, a resilient economy supports leasing activity, driving demand for real estate and strengthening REITs' earnings and dividends.
Further, the <a href="https://www.freddiemac.com/research/forecast/20240320-us-economy-remains-robust">decline in mortgage rates,</a> from an average of 7.4% in November 2023 to 6.8% and 6.6% in December 2023 and January 2024, respectively, contributed to the recovery of home sales from the lows of 2023.
Considering the industry tailwinds, let us now analyze the top <a href="https://stocknews.com/category/reits-mortgage/">REITs – Mortgage</a> stocks, starting with the fourth choice:
Stock #4: KKR Real Estate Finance Trust Inc. (<a href="https://stocknews.com/stock/KREF/">KREF</a>)
KREF primarily deals in transitional senior loans secured by commercial real estate (CRE) assets. It focuses on originating and acquiring these loans and other credit investments related to CRE, including leveraged and unleveraged commercial real estate loans.
On February 1, 2024, KREF declared a dividend of $0.40625 per each issued and outstanding share of the company's 6.50% Series A Cumulative Redeemable Preferred Stock, which represents an annual dividend of $1.625 per share. The dividend is payable on March 15, 2024. Its annual dividend yields 10.14% on the prevailing price level.
In the fiscal year that ended December 31, 2023, KREF's interest income increased 51.8% from the previous year to $640.41 million. Its total net interest income stood at $181.61 million. Its total other income rose 10.4% year-over-year to $21.20 million. Moreover, during the year, the company reported it had $101.02 million in real estate-owned assets held for sale.
KREF's EPS is estimated to rise 16.9% year-over-year to $0.97 in the fiscal year 2024.
The stock declined 2% intraday to close the last trading session at $9.86.
KREF's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its promising outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
It also has a B for Growth and Sentiment. It is ranked #4 in the 27-stock <a href="https://stocknews.com/category/reits-mortgage/">REITs – Mortgage</a> industry.
Click <a href="https://stocknews.com/stock/KREF/">here</a> to access KREF's Value, Momentum, Stability, and Quality.
Stock #3: BrightSpire Capital, Inc. (<a href="https://stocknews.com/stock/BRSP/">BRSP</a>)
BRSP operates as a commercial REIT in the United States. The company engages in originating, acquiring, financing, and managing a portfolio of CRE senior mortgage loans, mezzanine loans, preferred equity, debt securities, and net leased properties.
On March 15, BRSP declared a quarterly dividend of $0.20 per share on its class A common stock, which is payable to shareholders on April 15, 2024. Its annual dividend of $0.80 yields 12.12% on prevailing prices, higher than its four-year average dividend yield of 9.84%.
During the fiscal year that ended December 31, BRSP's interest income increased 26.5% year-over-year to $298.70 million. Its <a href="https://www.investopedia.com/terms/n/net-interest-income.asp">net interest income</a> stood at $125.39 million. Adjusted distributable earnings attributable to common stockholders amounted to $138.18 million and $1.06 per share.
BRSP's EPS is expected to grow 200% year-over-year to $0.9 in the fiscal first quarter ended March 2024. It has surpassed revenue estimates in three of the trailing four quarters, which is impressive.
The stock has gained 11.9% over the past year to close its last trading session at $6.60.
It is no surprise that BRSP has an overall B rating, which translates to Buy in our POWR Rating system.
The stock also has a B grade in Growth and Sentiment. Within the same industry, it is ranked #3.
To see BRSP's additional Momentum, Value, Stability, and Quality grades, click <a href="https://stocknews.com/stock/BRSP/">here</a>.
Stock #2: Lument Finance Trust, Inc. (<a href="https://stocknews.com/stock/LFT/">LFT</a>)
LFT specializes in investing in, financing, and managing commercial real estate (CRE) debt investments across the United States. Its portfolio includes transitional floating rate CRE mortgage loans on middle-market multi-family assets, as well as various other CRE-related investments such as mezzanine loans, preferred equity, and commercial mortgage-backed securities.
On March 16, 2024, LFT declared a cash dividend of $0.07 per share of common stock for the first quarter of 2024, payable on April 15, 2024. Additionally, a cash dividend of $0.4921875 per share was declared for the 7.875% Cumulative Redeemable Series A Preferred Stock, payable on the same day as above.
LFT pays an annual dividend of $0.28, which translates to a yield of 11.24% at the current share price. Its four-year average dividend yield is 11.96%.
During the fiscal year that ended December 31, 2023, LFT's net interest income increased 44.1% year-over-year to $34.39 million. Its net income improved 99.9% and 163.6%from the previous year to $19.72 million and $0.29 per share.
Street expects LFT's revenue for the fiscal second quarter (ending June 2024) to increase 23.2% year-over-year to $9.47 million, and its EPS is expected to grow 150% year-over-year to $0.10 for the current quarter.
LFT's shares have gained 24.3% over the past year to close the last trading session at $2.51.
LFT's robust fundamentals are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
The stock has a B grade for Quality. Within the same industry, LFT is ranked #2.
In addition to the POWR Ratings highlighted above, one can check LFT's ratings for Growth, Value, Sentiment, Stability, and Momentum <a href="https://stocknews.com/stock/LFT/">here</a>.
Stock #1: Rithm Capital Corp. (<a href="https://stocknews.com/stock/RITM/">RITM</a>)
RITM is an asset manager specializing in real estate, credit, and financial services. Its operations include origination, servicing, investment portfolios, mortgage loans, and asset management. The company's investment portfolio includes mortgage servicing rights, real estate securities, residential mortgage loans, consumer and business loans, and asset management-related investments.
On March 20, RITM declared dividends for the first quarter of 2024. Common stockholders will receive $0.25 per share, payable on April 26, 2024. Preferred stockholders of Series A will receive $0.4687500 per share, Series B will receive $0.4453125 per share, Series C will receive $0.3984375 per share, and Series D will receive $0.4375000 per share, payable on May 15, 2024.
It pays an annual dividend of $1, which yields 8.96% on the prevailing price level. The REIT has raised its dividend payouts at a CAGR of 15.4% over the past three years.
On March 18, RITM announced the early tender results of its cash tender offer to purchase up to $275 million of its outstanding 6.250% Senior Unsecured Notes due 2025. As of the early tender deadline, $483,626,000 of the notes' aggregate principal amount had been tendered. Due to exceeding the tender cap, RITM will accept notes for purchase on a prorated basis.
Moreover, the company's approved new stock repurchase programs totaling $300 million, comprising a $200 million common stock repurchase program and a $100 million preferred stock repurchase program, effective until December 31, 2024.
During the fiscal year ended December 31, 2023, GLPI's net servicing revenue stood at $1.29 billion. Its interest income grew 55.8% year-over-year to $1.68 billion. Net income attributable to common stockholders amounted to $532.68 million and $1.10 per share.
Analysts expect GLPI's EPS for the fiscal first quarter (ending March 2024) to increase 12.2% year-over-year to $0.39, and its revenue is expected to grow 33% year-over-year to $1.04 billion. Moreover, the company has topped the consensus EPS estimates in each of the trailing four quarters, which is impressive.
Shares of RITM have soared 36.6% over the past year and 17.7% over the past six months, closing the last trading session at $10.93.
RITM's POWR Ratings reflect its bright prospects. The stock has an overall rating of B, which equates to a Buy in our proprietary rating system.
RITM has an A grade for Sentiment and a B for Value and Quality. It is ranked first in the same industry.
Beyond the POWR Ratings highlighted above, we have also rated RITM for Growth, Value, and Momentum. Get all the RITM ratings <a href="https://stocknews.com/stock/RITM/">here</a>.
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RITM shares were trading at $10.87 per share on Tuesday afternoon, down $0.06 (-0.55%). Year-to-date, RITM has gained 4.08%, versus a 9.23% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Kritika Sarmah</h2> <img src='https:/wp-content/uploads/2022/08/Kritika-Sarmah_Image-3.jpg' style="float:left; padding:5px;width:125px;">Her interest in risky instruments and passion for writing made Kritika an analyst and financial journalist. She earned her bachelor's degree in commerce and is currently pursuing the CFA program. With her fundamental approach, she aims to help investors identify untapped investment opportunities.<a href="https://stocknews.com/authors/?author=kritika-sarmah">More...</a>The post <a href=https://stocknews.com/news/ritm-brsp-kref-lft-4-mortgage-reits-generating-solid-returns/>4 Mortgage REITs Generating Solid Returns</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>