RAIT Financial Trust (RAS) Stock Price Down 1.9%
RAIT Financial Trust (NYSE:RAS)’s share price dropped 1.9% on Thursday . The stock traded as low as $3.12 and last traded at $3.14, with a volume of 136,127 shares traded. The stock had previously closed at $3.20.
RAS has been the subject of several recent research reports. Deutsche Bank AG reiterated a “buy” rating and issued a $3.60 target price on shares of RAIT Financial Trust in a research note on Wednesday, March 23rd. Zacks Investment Research upgraded shares of RAIT Financial Trust from a “sell” rating to a “hold” rating in a research note on Friday, March 18th. Finally, TheStreet upgraded shares of RAIT Financial Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, April 5th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $3.98.
The company’s market capitalization is $287.55 million. The stock’s 50 day moving average is $3.16 and its 200 day moving average is $2.83.
RAIT Financial Trust (NYSE:RAS) last issued its quarterly earnings results on Monday, May 9th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company earned $89.50 million during the quarter, compared to the consensus estimate of $25.73 million. Equities research analysts anticipate that RAIT Financial Trust will post $0.55 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 8th will be given a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, July 6th. This represents a $0.36 dividend on an annualized basis and a yield of 11.50%.
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.
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