RAIT Financial Trust (NYSE:RAS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.
According to Zacks, “RAIT Financial Trust is an internally-managed real estate investment trust. It provides debt financing options to owners of commercial real estate and invests directly into commercial real estate properties located throughout the United States. RAIT originates secured and unsecured credit facilities including bridge and mezzanine loans, preferred equity investments, trust preferred securities and subordinated debt for private and corporate owners of commercial real estate, REITs, and real estate operating companies and their intermediaries. The Company is also an asset and property manager of real estate-related assets. RAIT Investment Trust is based in Philadelphia, Pennsylvania. “
Separately, JMP Securities restated a “hold” rating on shares of RAIT Financial Trust in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $3.23.
Shares of RAIT Financial Trust (NYSE:RAS) traded down 0.97% during midday trading on Friday, reaching $3.06. The company had a trading volume of 32,664 shares. RAIT Financial Trust has a one year low of $1.85 and a one year high of $4.45. The firm’s market capitalization is $282.06 million. 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 announced its earnings results on Thursday, November 3rd. The real estate investment trust reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. RAIT Financial Trust had a return on equity of 9.61% and a net margin of 11.18%. On average, analysts anticipate that RAIT Financial Trust will post $0.47 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Friday, October 7th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, October 5th. This represents a $0.36 dividend on an annualized basis and a yield of 11.65%. RAIT Financial Trust’s payout ratio is -138.46%.
A number of large investors have recently modified their holdings of RAS. LPL Financial LLC boosted its stake in shares of RAIT Financial Trust by 3.6% in the third quarter. LPL Financial LLC now owns 32,746 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 1,150 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of RAIT Financial Trust by 4.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,375 shares of the real estate investment trust’s stock worth $583,000 after buying an additional 8,100 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of RAIT Financial Trust during the third quarter worth about $231,000. Analytic Investors LLC boosted its stake in shares of RAIT Financial Trust by 433.0% in the third quarter. Analytic Investors LLC now owns 180,081 shares of the real estate investment trust’s stock worth $609,000 after buying an additional 146,294 shares during the last quarter. Finally, SECOR Capital Advisors LP acquired a new stake in shares of RAIT Financial Trust during the third quarter worth about $259,000. 57.74% of the stock is currently owned by institutional investors and hedge funds.
RAIT Financial Trust Company Profile
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.