Shares of RAIT Financial Trust (NYSE:RAS) were down 3.9% during mid-day trading 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 issued reports on RAS shares. Deutsche Bank AG reduced their price target on shares of RAIT Financial Trust from $6.50 to $3.60 and set a “buy” rating on the stock in a report on Monday, March 14th. Zacks Investment Research raised shares of 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. Finally, TheStreet downgraded shares of RAIT Financial Trust from a “hold” rating to a “sell” rating in a report on Friday, May 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. RAIT Financial Trust has an average rating of “Hold” and a consensus price target of $3.98.

The company’s market capitalization is $278.36 million. The company has a 50-day moving average of $3.16 and a 200 day moving average of $2.81.

RAIT Financial Trust (NYSE:RAS) last announced its quarterly earnings data on Monday, May 9th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The business earned $89.50 million during the quarter, compared to analyst estimates of $25.73 million. On average, equities research analysts expect 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. Stockholders of record on Friday, July 8th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, July 6th. This represents a $0.36 annualized dividend and a dividend yield of 12.00%.

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 13F filing with the Securities and Exchange Commission. The firm acquired 1,402,088 shares of the real estate investment trust’s stock, valued at approximately $3,786,000. RAIT Financial Trust makes up about 0.9% of Tricadia Capital Management LLC’s holdings, making the stock its 24th largest position. Tricadia Capital Management LLC owned approximately 1.54% of RAIT Financial Trust at the end of the most recent reporting period.

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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