RAIT Financial Trust (RAS) Shares Down 1.9%
Shares of RAIT Financial Trust (NYSE:RAS) dropped 1.9% during mid-day trading on Thursday . The company traded as low as $3.16 and last traded at $3.18, with a volume of 143,961 shares. The stock had previously closed at $3.24.
RAS has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of RAIT Financial Trust from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a research report on Thursday, April 28th. TheStreet raised shares of RAIT Financial Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, April 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $3.98.
The stock’s market capitalization is $292.15 million. The stock’s 50 day moving average is $3.14 and its 200 day moving average is $2.85.
RAIT Financial Trust (NYSE:RAS) last announced its quarterly earnings data on Monday, May 9th. The real estate investment trust reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. The business had revenue of $89.50 million for the quarter, compared to analyst estimates of $25.73 million. On average, analysts forecast 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. Shareholders 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 dividend on an annualized basis and a yield of 11.32%.
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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