RAIT Financial Trust (RAS) Sees Large Volume Increase
Shares of RAIT Financial Trust (NYSE:RAS) saw an uptick in 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.
A number of research firms recently commented on RAS. TheStreet lowered shares of RAIT Financial Trust from a “hold” rating to a “sell” rating in a research report on Friday, May 27th. Zacks Investment Research lowered shares of RAIT Financial Trust from a “buy” rating to a “hold” rating in a research report on Monday, May 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $3.23.
The company’s 50-day moving average is $3.15 and its 200-day moving average is $2.90. The stock’s market cap is $287.25 million.
RAIT Financial Trust (NYSE:RAS) last posted its earnings results on Friday, August 5th. The real estate investment trust reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.21. The firm had revenue of $85.07 million for the quarter, compared to analysts’ expectations of $25.55 million. During the same period last year, the firm posted $0.37 EPS. On average, equities research analysts predict that RAIT Financial Trust will post $0.55 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 8th were paid a $0.09 dividend. The ex-dividend date was Wednesday, July 6th. This represents a $0.36 annualized dividend and a dividend yield of 11.43%.
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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