B. Riley Reiterates “Neutral” Rating for RAIT Financial Trust (RAS)

RAIT Financial Trust (NYSE:RAS)‘s stock had its “neutral” rating reiterated by B. Riley in a research report issued to clients and investors on Friday.

A number of other research firms have also weighed in on RAS. JMP Securities lowered shares of RAIT Financial Trust from a “market perform” rating to an “underperform” rating in a research note on Wednesday, August 9th. Zacks Investment Research lowered shares of RAIT Financial Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. FBR & Co lowered shares of RAIT Financial Trust from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $3.00 to $1.25 in a research note on Tuesday, August 15th. ValuEngine lowered shares of RAIT Financial Trust from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Deutsche Bank AG dropped their price objective on shares of RAIT Financial Trust from $2.75 to $1.60 and set a “hold” rating on the stock in a research note on Tuesday, August 15th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $1.78.

Shares of RAIT Financial Trust (NYSE:RAS) traded down $0.04 during midday trading on Friday, reaching $0.36. 1,498,363 shares of the company traded hands, compared to its average volume of 1,110,000. RAIT Financial Trust has a fifty-two week low of $0.36 and a fifty-two week high of $3.91. The company has a debt-to-equity ratio of 7.99, a quick ratio of 12.92 and a current ratio of 12.92.

RAIT Financial Trust (NYSE:RAS) last issued its earnings results on Tuesday, August 8th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.08). The company had revenue of $22.81 million for the quarter, compared to the consensus estimate of $28.78 million. RAIT Financial Trust had a negative return on equity of 0.59% and a negative net margin of 137.66%. equities research analysts predict that RAIT Financial Trust will post -0.09 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its holdings in RAIT Financial Trust by 128.0% during the first quarter. Bank of America Corp DE now owns 32,861 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 18,448 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of RAIT Financial Trust in the first quarter worth about $133,000. American International Group Inc. increased its stake in shares of RAIT Financial Trust by 7.0% in the first quarter. American International Group Inc. now owns 56,509 shares of the real estate investment trust’s stock worth $181,000 after purchasing an additional 3,707 shares in the last quarter. Tudor Investment Corp ET AL increased its stake in shares of RAIT Financial Trust by 112.8% in the second quarter. Tudor Investment Corp ET AL now owns 57,888 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 30,685 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of RAIT Financial Trust by 14.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 60,290 shares of the real estate investment trust’s stock worth $193,000 after purchasing an additional 7,677 shares in the last quarter. Institutional investors and hedge funds own 58.53% 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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