RAIT Financial Trust (RAS) Stock Price Down 1.9%
Shares of RAIT Financial Trust (NYSE:RAS) were down 1.9% during trading on Thursday . The company traded as low as $3.16 and last traded at $3.18, with a volume of 143,961 shares. The stock had previously closed at $3.24.
A number of analysts recently commented on RAS shares. Deutsche Bank AG reaffirmed a “buy” rating and issued a $3.60 price target on shares of RAIT Financial Trust in a research note on Wednesday, March 23rd. TheStreet raised RAIT Financial Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, April 5th. Finally, Zacks Investment Research lowered RAIT Financial Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. RAIT Financial Trust currently has a consensus rating of “Hold” and an average target price of $3.98.
The stock has a 50-day moving average of $3.14 and a 200-day moving average of $2.85. The company’s market capitalization is $286.63 million.
RAIT Financial Trust (NYSE:RAS) last released its earnings results on Monday, May 9th. The real estate investment trust reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The company had revenue of $89.50 million for the quarter, compared to the consensus estimate of $25.73 million. On average, equities research analysts expect that RAIT Financial Trust will post $0.55 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 8th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 11.54%. The ex-dividend date 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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