RAIT Financial Trust (NYSE:RAS) dropped 3.2% during mid-day trading on Thursday . The company traded as low as $3.02 and last traded at $3.04, with a volume of 214,425 shares trading hands. The stock had previously closed at $3.14.

RAS has been the subject of a number of recent research reports. TheStreet downgraded shares of RAIT Financial Trust from a “hold” rating to a “sell” rating in a research report on Friday, May 27th. Zacks Investment Research cut shares of RAIT Financial Trust from a “buy” rating to a “hold” rating in a research note on Monday, May 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. RAIT Financial Trust presently has a consensus rating of “Hold” and an average price target of $3.23.

The company has a 50 day moving average of $3.11 and a 200 day moving average of $3.01. The company’s market cap is $278.40 million.

RAIT Financial Trust (NYSE:RAS) last posted its quarterly earnings results on Friday, August 5th. The real estate investment trust reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.21. The business had revenue of $85.07 million for the quarter, compared to analyst estimates of $25.55 million. During the same period in the prior year, the company posted $0.37 earnings per share. On average, equities analysts forecast that RAIT Financial Trust will post $0.50 earnings per share 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.

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.