RAIT Financial Trust (RAS) Sets New 52-Week Low at $0.98
RAIT Financial Trust (NYSE:RAS) hit a new 52-week low during trading on Wednesday . The company traded as low as $0.98 and last traded at $0.98, with a volume of 610,624 shares changing hands. The stock had previously closed at $0.97.
A number of equities research analysts have commented on RAS shares. Zacks Investment Research raised RAIT Financial Trust from a “hold” rating to a “buy” rating and set a $2.50 price objective for the company in a research note on Wednesday, July 5th. ValuEngine cut RAIT Financial Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Deutsche Bank AG reduced their price objective on RAIT Financial Trust from $2.75 to $1.60 and set a “hold” rating for the company in a research note on Tuesday, August 15th. FBR & Co cut RAIT Financial Trust from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $3.00 to $1.25 in a research note on Tuesday, August 15th. Finally, JMP Securities cut RAIT Financial Trust from a “market perform” rating to an “underperform” rating in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $1.78.
The stock’s 50-day moving average is $1.79 and its 200 day moving average is $2.57. The company’s market cap is $91.58 million.
RAIT Financial Trust (NYSE:RAS) last issued its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by $0.08. The business had revenue of $22.81 million during the quarter, compared to the consensus estimate of $28.78 million. RAIT Financial Trust had a positive return on equity of 0.98% and a negative net margin of 99.46%. Equities analysts forecast that RAIT Financial Trust will post ($1.84) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 19.61%. The ex-dividend date is Wednesday, August 23rd. RAIT Financial Trust’s dividend payout ratio (DPR) is -23.38%.
In other RAIT Financial Trust news, insider Thomas D. Wren acquired 45,000 shares of RAIT Financial Trust stock in a transaction that occurred on Monday, June 5th. The stock was bought at an average price of $2.29 per share, with a total value of $103,050.00. Following the completion of the purchase, the insider now directly owns 45,000 shares of the company’s stock, valued at approximately $103,050. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.30% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Teachers Advisors LLC increased its position in shares of RAIT Financial Trust by 5.4% in the fourth quarter. Teachers Advisors LLC now owns 158,939 shares of the real estate investment trust’s stock worth $534,000 after buying an additional 8,144 shares during the period. Acadian Asset Management LLC acquired a new position in shares of RAIT Financial Trust during the first quarter worth about $372,000. Shell Asset Management Co. acquired a new position in shares of RAIT Financial Trust during the first quarter worth about $501,000. Wells Fargo & Company MN increased its position in shares of RAIT Financial Trust by 8.8% in the first quarter. Wells Fargo & Company MN now owns 67,631 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 5,475 shares during the last quarter. Finally, IndexIQ Advisors LLC increased its position in shares of RAIT Financial Trust by 11.7% in the first quarter. IndexIQ Advisors LLC now owns 97,731 shares of the real estate investment trust’s stock worth $313,000 after buying an additional 10,251 shares during the last quarter. 58.69% of the stock is owned by institutional investors.
RAIT Financial Trust Company Profile
RAIT Financial Trust (RAIT) is a real estate investment trust (REIT). The Company focuses on providing commercial real estate (CRE) financing throughout the United States. The core of its business is a full service CRE lending platform focused on first lien loans. It offers customized lending solutions to meet borrower needs and internal credit goals.