RAIT Financial Trust (RAS) Sees Large Volume Increase
RAIT Financial Trust (NYSE:RAS) shares saw strong trading volume on Friday . 680,234 shares traded hands during trading, an increase of 74% from the previous session’s volume of 391,704 shares.The stock last traded at $3.23 and had previously closed at $3.22.
Several analysts recently weighed in on the company. Zacks Investment Research raised RAIT Financial Trust from a “hold” rating to a “buy” rating and set a $3.50 price target for the company in a report on Thursday, April 28th. TheStreet cut RAIT Financial Trust from a “hold” rating to a “sell” rating in a report on Friday, May 27th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $3.23.
The company has a 50-day moving average price of $3.15 and a 200-day moving average price of $2.90. The firm’s market capitalization is $289.39 million.
RAIT Financial Trust (NYSE:RAS) last released its earnings results on Friday, August 5th. The real estate investment trust reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by $0.21. The firm earned $85.07 million during the quarter, compared to the consensus estimate of $25.55 million. During the same period in the previous year, the company posted $0.37 earnings per share. Equities analysts expect that RAIT Financial Trust will post $0.55 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 8th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 11.43%. The ex-dividend date of this dividend 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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