RAIT Financial Trust (RAS) Stock Price Up 2.9%
RAIT Financial Trust (NYSE:RAS)’s share price rose 2.9% during trading on Monday . The company traded as high as $3.22 and last traded at $3.19, with a volume of 402,183 shares. The stock had previously closed at $3.10.
RAS has been the subject of a number of recent research reports. Zacks Investment Research raised shares of RAIT Financial Trust from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a research note on Thursday, April 28th. TheStreet lowered shares of RAIT Financial Trust from a “hold” rating to a “sell” rating in a report on Friday, May 27th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $3.60 target price on shares of RAIT Financial Trust in a report on Wednesday, March 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. RAIT Financial Trust currently has a consensus rating of “Hold” and an average price target of $3.98.
The company’s market capitalization is $293.98 million. The firm’s 50 day moving average price is $3.15 and its 200 day moving average price is $2.84.
RAIT Financial Trust (NYSE:RAS) last posted its quarterly earnings data on Monday, May 9th. The real estate investment trust reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. The company had revenue of $89.50 million for the quarter, compared to analyst estimates of $25.73 million. Equities research analysts forecast that RAIT Financial Trust will post $0.55 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, July 8th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 11.25%. The ex-dividend date of this dividend is Wednesday, July 6th.
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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