RAIT Financial Trust (RAS) Stock Price Down 2.5%
RAIT Financial Trust (NYSE:RAS)’s share price was down 2.5% during mid-day trading on Friday . The company traded as low as $3.17 and last traded at $3.17, with a volume of 380,133 shares trading hands. The stock had previously closed at $3.25.
A number of equities analysts have issued reports on RAS shares. Zacks Investment Research upgraded shares of RAIT Financial Trust from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a research report on Thursday, April 28th. TheStreet raised shares of RAIT Financial Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, April 5th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $3.98.
The company has a 50 day moving average of $3.13 and a 200-day moving average of $2.87. The firm’s market cap is $291.23 million.
RAIT Financial Trust (NYSE:RAS) last released its quarterly earnings data on Monday, May 9th. The real estate investment trust reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The business 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 EPS for the current fiscal year.
The firm 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. The ex-dividend date is Wednesday, July 6th. This represents a $0.36 annualized dividend and a yield of 11.36%.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.