Creative Planning held its stake in shares of RAIT Financial Trust (NYSE:RAS) during the third quarter, Holdings Channel reports. The firm owned 545,300 shares of the real estate investment trust’s stock at the end of the third quarter. Creative Planning owned about 0.59% of RAIT Financial Trust worth $1,843,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in RAS. Analytic Investors LLC acquired a new stake in shares of RAIT Financial Trust during the second quarter worth $106,000. Bank of Montreal Can acquired a new stake in shares of RAIT Financial Trust during the second quarter worth $110,000. American International Group Inc. boosted its stake in shares of RAIT Financial Trust by 8.9% in the second quarter. American International Group Inc. now owns 52,857 shares of the real estate investment trust’s stock worth $165,000 after buying an additional 4,307 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of RAIT Financial Trust during the second quarter worth $299,000. Finally, Alliancebernstein L.P. boosted its stake in shares of RAIT Financial Trust by 47.8% in the second quarter. Alliancebernstein L.P. now owns 114,657 shares of the real estate investment trust’s stock worth $359,000 after buying an additional 37,057 shares during the period. Institutional investors and hedge funds own 57.74% of the company’s stock.
Shares of RAIT Financial Trust (NYSE:RAS) traded down 0.32% during midday trading on Friday, reaching $3.08. 131,495 shares of the company traded hands. The company’s market capitalization is $283.91 million. RAIT Financial Trust has a 1-year low of $1.85 and a 1-year high of $4.45. The company has a 50 day moving average price of $2.97 and a 200 day moving average price of $3.09.
RAIT Financial Trust (NYSE:RAS) last posted its quarterly earnings results on Thursday, November 3rd. The real estate investment trust reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. RAIT Financial Trust had a net margin of 11.18% and a return on equity of 9.61%. On average, analysts expect that RAIT Financial Trust will post $0.47 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Friday, October 7th were issued a $0.09 dividend. The ex-dividend date was Wednesday, October 5th. This represents a $0.36 annualized dividend and a dividend yield of 11.69%. RAIT Financial Trust’s dividend payout ratio is currently -138.46%.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of RAIT Financial Trust from a “sell” rating to a “hold” rating in a report on Friday. JMP Securities reiterated a “hold” rating on shares of RAIT Financial Trust in a report on Monday, November 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. RAIT Financial Trust presently has an average rating of “Hold” and a consensus price target of $3.23.
About RAIT Financial Trust
RAIT Financial Trust (RAIT) is a self-managed and self-advised real estate investment trust (REIT). RAIT uses its vertically integrated platform and relationships to originate commercial real estate loans, acquire commercial real estate properties and invest in, manage and service commercial real estate assets.