Lument Finance Trust downgraded on valuation at JonesResearch

JonesResearch analyst Jason Weaver downgraded Lument Finance Trust to Hold from Buy without a price target. The firm cites valuation for the downgrade with the shares nearing its prior $2.50 price target. Lument’s potentially “inadequate” credit reserves for a deteriorating macroeconomic growth environment warrant a less sanguine view on the shares, the analyst tells investors in a research note. Jones look for stability from the portfolio and a better macro outlook surrounding secondary and tertiary multifamily markets for a reevaluation of the shares.