RAIT Financial Trust (RAS) Trading Up 2%
RAIT Financial Trust (NYSE:RAS) was up 2% on Wednesday . The company traded as high as $3.11 and last traded at $3.10, with a volume of 355,716 shares. The stock had previously closed at $3.04.
A number of equities research analysts have weighed in on RAS shares. Zacks Investment Research cut shares of RAIT Financial Trust from a “buy” rating to a “hold” rating in a report on Monday, May 16th. TheStreet cut shares of RAIT Financial Trust from a “hold” rating to a “sell” rating in a report on Friday, May 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $3.23.
The company’s 50 day moving average price is $3.12 and its 200-day moving average price is $3.01. The stock’s market cap is $284.86 million.
RAIT Financial Trust (NYSE:RAS) last released its quarterly earnings results on Friday, August 5th. The real estate investment trust reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by $0.21. The company had revenue of $85.07 million for the quarter, compared to analysts’ expectations of $25.55 million. During the same period in the previous year, the company posted $0.37 earnings per share. On average, equities analysts forecast that RAIT Financial Trust will post $0.50 EPS for the current year.
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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