RAIT Financial Trust (NYSE:RAS)’s share price shot up 2.7% during mid-day trading on Tuesday . The stock traded as high as $0.60 and last traded at $0.57. 1,798,572 shares changed hands during mid-day trading, an increase of 64% from the average session volume of 1,095,940 shares. The stock had previously closed at $0.59.
Several equities research analysts have recently commented on RAS shares. Zacks Investment Research downgraded RAIT Financial Trust from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. JMP Securities downgraded RAIT Financial Trust from a “market perform” rating to an “underperform” rating in a report on Wednesday, August 9th. FBR & Co downgraded RAIT Financial Trust from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $3.00 to $1.25 in a report on Tuesday, August 15th. Deutsche Bank AG decreased their price objective on RAIT Financial Trust from $2.75 to $1.60 and set a “hold” rating for the company in a report on Tuesday, August 15th. Finally, ValuEngine downgraded RAIT Financial Trust from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $1.78.
The stock’s market capitalization is $51.89 million. The company’s 50 day moving average is $1.31 and its 200-day moving average is $2.30.
RAIT Financial Trust (NYSE:RAS) last released its earnings results on Tuesday, August 8th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.08). The firm had revenue of $22.81 million during the quarter, compared to analysts’ expectations of $28.78 million. RAIT Financial Trust had a negative net margin of 99.46% and a positive return on equity of 0.98%. Analysts expect that RAIT Financial Trust will post ($1.84) EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 34.06%. The ex-dividend date of this dividend is Wednesday, August 23rd. RAIT Financial Trust’s payout ratio is presently -12.99%.
A number of large investors have recently made changes to their positions in RAS. Goldman Sachs Group Inc. raised its stake in RAIT Financial Trust by 236.1% during the second quarter. Goldman Sachs Group Inc. now owns 979,408 shares of the real estate investment trust’s stock valued at $2,145,000 after buying an additional 688,000 shares during the last quarter. Royce & Associates LP raised its stake in RAIT Financial Trust by 133.1% during the first quarter. Royce & Associates LP now owns 1,152,713 shares of the real estate investment trust’s stock valued at $3,689,000 after buying an additional 658,166 shares during the last quarter. Cetera Investment Advisers purchased a new position in RAIT Financial Trust during the second quarter valued at $1,348,000. Renaissance Technologies LLC raised its stake in RAIT Financial Trust by 14.0% during the first quarter. Renaissance Technologies LLC now owns 4,163,100 shares of the real estate investment trust’s stock valued at $13,322,000 after buying an additional 511,400 shares during the last quarter. Finally, Forsta AP Fonden purchased a new position in RAIT Financial Trust during the second quarter valued at $442,000. Institutional investors and hedge funds own 59.90% of the company’s stock.
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RAIT Financial Trust Company Profile
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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