RAIT Financial Trust (RAS) Trading Down 0.7%
Shares of RAIT Financial Trust (NYSE:RAS) fell 0.7% during mid-day trading on Thursday . The stock 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.
Several research firms recently issued reports on RAS. Zacks Investment Research lowered RAIT Financial Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. TheStreet lowered RAIT Financial Trust from a “hold” rating to a “sell” rating in a report on Friday, May 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. RAIT Financial Trust currently has an average rating of “Hold” and an average target price of $3.23.
The firm’s market cap is $281.17 million. The stock’s 50 day moving average is $3.13 and its 200-day moving average is $2.93.
RAIT Financial Trust (NYSE:RAS) last posted its quarterly earnings data on Friday, August 5th. The real estate investment trust reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.21. The firm earned $85.07 million during the quarter, compared to analysts’ expectations of $25.55 million. During the same period in the previous year, the business posted $0.37 earnings per share. Equities research analysts forecast that RAIT Financial Trust will post $0.54 EPS for the current fiscal 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 of this dividend was Wednesday, July 6th. This represents a $0.36 annualized dividend and a dividend yield of 11.80%.
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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