RAIT Financial Trust (RAS) Trading Down 2.5%
RAIT Financial Trust (NYSE:RAS) fell 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 changing hands. The stock had previously closed at $3.25.
A number of brokerages recently issued reports on RAS. TheStreet lowered shares of RAIT Financial Trust from a “hold” rating to a “sell” rating in a report on Friday, May 27th. Zacks Investment Research lowered shares of RAIT Financial Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. RAIT Financial Trust has an average rating of “Hold” and an average price target of $3.98.
The stock 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 results on Monday, May 9th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $89.50 million for the quarter, compared to analyst estimates of $25.73 million. Equities analysts expect that RAIT Financial Trust will post $0.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 8th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 11.36%. The ex-dividend date was 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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