Headlines about RAIT Financial Trust (NYSE:RAS) have trended somewhat positive on Tuesday, according to Accern Sentiment. The research firm identifies positive and negative media coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. RAIT Financial Trust earned a media sentiment score of 0.22 on Accern’s scale. Accern also assigned news headlines about the real estate investment trust an impact score of 88 out of 100, meaning that recent media coverage is very likely to have an effect on the stock’s share price in the next several days.
RAIT Financial Trust (NYSE RAS) traded down 2.28% during mid-day trading on Tuesday, hitting $2.14. 707,079 shares of the stock traded hands. The firm’s 50-day moving average price is $2.41 and its 200-day moving average price is $3.08. The firm’s market cap is $198.36 million. RAIT Financial Trust has a 52 week low of $2.11 and a 52 week high of $3.91.
RAIT Financial Trust (NYSE:RAS) last issued its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. RAIT Financial Trust had a net margin of 11.06% and a return on equity of 3.41%. The company had revenue of $29.60 million during the quarter, compared to the consensus estimate of $32.20 million. During the same quarter in the prior year, the firm posted ($0.20) EPS. On average, equities analysts forecast that RAIT Financial Trust will post ($0.44) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Friday, May 26th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 16.82%. The ex-dividend date of this dividend was Wednesday, May 24th. RAIT Financial Trust’s dividend payout ratio (DPR) is presently -149.99%.
RAS has been the subject of several recent research reports. ValuEngine lowered shares of RAIT Financial Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Deutsche Bank AG lowered shares of RAIT Financial Trust from a “buy” rating to a “hold” rating and dropped their price target for the stock from $3.00 to $2.75 in a research report on Thursday, March 2nd. Zacks Investment Research raised shares of RAIT Financial Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Finally, FBR & Co reissued a “buy” rating and issued a $3.75 price target on shares of RAIT Financial Trust in a research report on Monday, February 27th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $3.25.
In related news, insider Thomas D. Wren acquired 45,000 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was acquired at an average cost of $2.29 per share, for a total transaction of $103,050.00. Following the transaction, the insider now directly owns 45,000 shares in the company, valued at $103,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.
About RAIT Financial Trust
RAIT Financial Trust (RAIT) is a real estate investment trust (REIT). The Company focuses on providing commercial real estate (CRE) financing throughout the United States. The core of its business is a full service CRE lending platform focused on first lien loans. It offers customized lending solutions to meet borrower needs and internal credit goals.
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