Shares of RAIT Financial Trust (NYSE:RAS) were down 3.9% on Wednesday . The stock traded as low as $2.93 and last traded at $2.99, with a volume of 190,632 shares changing hands. The stock had previously closed at $3.11.

Several analysts have weighed in on RAS shares. Deutsche Bank AG reissued a “buy” rating and issued a $3.60 target price on shares of RAIT Financial Trust in a report on Wednesday, March 23rd. Zacks Investment Research raised RAIT Financial Trust from a “sell” rating to a “hold” rating in a report on Friday, March 18th. Finally, TheStreet raised RAIT Financial Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, April 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $3.98.

The firm has a 50-day moving average of $3.16 and a 200-day moving average of $2.81. The firm’s market cap is $276.53 million.

RAIT Financial Trust (NYSE:RAS) last announced its quarterly earnings results on Monday, May 9th. The real estate investment trust reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company earned $89.50 million during the quarter, compared to analyst estimates of $25.73 million. Analysts predict that RAIT Financial Trust will post $0.55 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 8th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, July 6th. This represents a $0.36 annualized dividend and a dividend yield of 11.96%.

An institutional investor recently bought a new position in RAIT Financial Trust stock. Tricadia Capital Management LLC acquired a new stake in RAIT Financial Trust (NYSE:RAS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,402,088 shares of the real estate investment trust’s stock, valued at approximately $3,786,000. RAIT Financial Trust comprises about 0.9% of Tricadia Capital Management LLC’s holdings, making the stock its 24th largest position. Tricadia Capital Management LLC owned about 1.54% of RAIT Financial Trust as of its most recent SEC filing.

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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