Trade Report: The Brokerages Set RAIT Financial Trust (NYSE:RAS) PT at $3.15

The Brokerages Set RAIT Financial Trust (NYSE:RAS) PT at $3.15

Shares of RAIT Financial Trust (NYSE:RAS) have earned a consensus recommendation of “Hold” from the seven brokerages that are covering the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $3.15.

Separately, Zacks Investment Research upgraded shares of RAIT Financial Trust from a “sell” rating to a “hold” rating in a report on Thursday, September 1st.

Shares of RAIT Financial Trust (NYSE:RAS) opened at 2.96 on Thursday. RAIT Financial Trust has a 12-month low of $1.85 and a 12-month high of $5.37. The stock’s 50 day moving average price is $3.13 and its 200-day moving average price is $3.09. The firm’s market capitalization is $272.87 million.

RAIT Financial Trust (NYSE:RAS) last posted its quarterly earnings data on Friday, August 5th. The real estate investment trust reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by $0.21. The company earned $85.07 million during the quarter, compared to the consensus estimate of $25.55 million. RAIT Financial Trust had a net margin of 8.13% and a return on equity of 9.09%. During the same quarter last year, the business earned $0.37 earnings per share. On average, equities analysts expect that RAIT Financial Trust will post $0.49 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, October 7th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 12.16%. The ex-dividend date of this dividend is Wednesday, October 5th. RAIT Financial Trust’s payout ratio is -109.09%.

A number of hedge funds have recently modified their holdings of RAS. Foundry Partners LLC boosted its stake in shares of RAIT Financial Trust by 5.1% in the third quarter. Foundry Partners LLC now owns 1,508,653 shares of the real estate investment trust’s stock worth $5,099,000 after buying an additional 73,867 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of RAIT Financial Trust by 102.5% in the second quarter. Stifel Financial Corp now owns 269,019 shares of the real estate investment trust’s stock worth $842,000 after buying an additional 136,188 shares during the last quarter. A.R.T. Advisors LLC boosted its stake in shares of RAIT Financial Trust by 8.5% in the second quarter. A.R.T. Advisors LLC now owns 154,795 shares of the real estate investment trust’s stock worth $484,000 after buying an additional 12,088 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of RAIT Financial Trust by 14.2% in the second quarter. Parametric Portfolio Associates LLC now owns 377,567 shares of the real estate investment trust’s stock worth $1,182,000 after buying an additional 47,001 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of RAIT Financial Trust by 4.9% in the second quarter. State Street Corp now owns 1,471,401 shares of the real estate investment trust’s stock worth $4,604,000 after buying an additional 68,129 shares during the last quarter. Hedge funds and other institutional investors own 57.26% of the company’s stock.

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