RAIT Financial Trust (RAS) Shares Up 2.9%
RAIT Financial Trust (NYSE:RAS) shot up 2.9% on Monday . The stock traded as high as $3.22 and last traded at $3.19, with a volume of 402,183 shares changing hands. The stock had previously closed at $3.10.
Several brokerages have weighed in on RAS. TheStreet cut shares of RAIT Financial Trust from a “hold” rating to a “sell” rating in a research report on Friday, May 27th. Zacks Investment Research cut shares of RAIT Financial Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $3.60 price target on shares of RAIT Financial Trust in a research report on Wednesday, March 23rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $3.98.
The stock has a 50-day moving average of $3.15 and a 200 day moving average of $2.84. The firm’s market capitalization is $297.66 million.
RAIT Financial Trust (NYSE:RAS) last announced its quarterly earnings results on Monday, May 9th. The real estate investment trust reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. The business 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 earnings per share for the current year.
The firm 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. This represents a $0.36 annualized dividend and a yield of 11.29%. 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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