RAIT Financial Trust (RAS) Trading Down 1.9%
RAIT Financial Trust (NYSE:RAS)’s share price was down 1.9% during trading on Thursday . The company traded as low as $3.12 and last traded at $3.14, with a volume of 136,127 shares traded. The stock had previously closed at $3.20.
A number of equities analysts have commented on RAS shares. Deutsche Bank AG reaffirmed a “buy” rating and issued a $3.60 price target on shares of RAIT Financial Trust in a research note on Wednesday, March 23rd. Zacks Investment Research raised RAIT Financial Trust from a “sell” rating to a “hold” rating in a research note 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. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $3.98.
The firm’s market cap is $284.80 million. The firm has a 50 day moving average price of $3.15 and a 200 day moving average price of $2.83.
RAIT Financial Trust (NYSE:RAS) last released its quarterly earnings data 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 business earned $89.50 million during the quarter, compared to the consensus estimate of $25.73 million. Equities research analysts anticipate that RAIT Financial Trust will post $0.55 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, July 8th will be given a dividend of $0.09 per share. The ex-dividend date is Wednesday, July 6th. This represents a $0.36 dividend on an annualized basis and a yield of 11.61%.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.