RAIT Financial Trust (RAS) Trading Up 2%
RAIT Financial Trust (NYSE:RAS) shares were up 2% on Wednesday . The stock 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.
Several research analysts have weighed in on RAS shares. TheStreet lowered RAIT Financial Trust from a “hold” rating to a “sell” rating in a report on Friday, May 27th. Zacks Investment Research lowered RAIT Financial Trust from a “buy” rating to a “hold” rating in a report on Monday, May 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. RAIT Financial Trust currently has a consensus rating of “Hold” and an average price target of $3.23.
The stock’s 50 day moving average price is $3.11 and its 200-day moving average price is $3.01. The company’s market cap is $278.40 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 for the quarter, missing the consensus estimate of $0.13 by $0.21. During the same quarter in the previous year, the company posted $0.37 earnings per share. The business had revenue of $85.07 million for the quarter, compared to the consensus estimate of $25.55 million. On average, analysts expect 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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