RAIT Financial Trust (RAS) Stock Price Down 0.7%
Shares of RAIT Financial Trust (NYSE:RAS) were down 0.7% during trading on Thursday . The company traded as low as $2.88 and last traded at $3.02, with a volume of 433,928 shares traded. The stock had previously closed at $3.04.
A number of analysts recently commented on RAS shares. Zacks Investment Research upgraded RAIT Financial Trust from a “hold” rating to a “buy” rating and set a $3.50 price target on the stock in a report on Thursday, April 28th. TheStreet downgraded RAIT Financial Trust from a “hold” rating to a “sell” rating in a research report on Friday, May 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. RAIT Financial Trust presently has an average rating of “Hold” and a consensus target price of $3.23.
The company’s market capitalization is $273.57 million. The firm’s 50-day moving average is $3.14 and its 200 day moving average is $2.92.
RAIT Financial Trust (NYSE:RAS) last posted its quarterly earnings results on Friday, August 5th. The real estate investment trust reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.13 by $0.21. The company earned $85.07 million during the quarter, compared to the consensus estimate of $25.55 million. During the same quarter in the prior year, the firm earned $0.37 EPS. On average, equities analysts anticipate that RAIT Financial Trust will post $0.54 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 8th were paid a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, July 6th. This represents a $0.36 annualized dividend and a dividend yield of 12.00%.
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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