Tricadia Capital Management LLC Purchases 34,011 Shares of RAIT Financial Trust (RAS)
Tricadia Capital Management LLC boosted its position in shares of RAIT Financial Trust (NYSE:RAS) by 0.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,656,391 shares of the real estate investment trust’s stock after purchasing an additional 34,011 shares during the period. RAIT Financial Trust makes up 5.2% of Tricadia Capital Management LLC’s portfolio, making the stock its 7th biggest position. Tricadia Capital Management LLC owned 7.18% of RAIT Financial Trust worth $14,578,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Shell Asset Management Co. acquired a new stake in RAIT Financial Trust during the 1st quarter valued at $501,000. Acadian Asset Management LLC acquired a new stake in RAIT Financial Trust during the 1st quarter valued at $372,000. Forsta AP Fonden acquired a new stake in RAIT Financial Trust during the 2nd quarter valued at $442,000. Creative Planning grew its holdings in RAIT Financial Trust by 10.1% during the 2nd quarter. Creative Planning now owns 603,650 shares of the real estate investment trust’s stock valued at $1,322,000 after purchasing an additional 55,358 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in RAIT Financial Trust by 10.4% during the 1st quarter. Parametric Portfolio Associates LLC now owns 528,511 shares of the real estate investment trust’s stock valued at $1,691,000 after purchasing an additional 49,912 shares in the last quarter. 59.90% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on RAS. ValuEngine lowered shares of RAIT Financial Trust from a “buy” rating to a “hold” rating in a report on Friday, September 1st. FBR & Co lowered shares of RAIT Financial Trust from a “buy” rating to a “neutral” rating and lowered their price target for the company from $3.00 to $1.25 in a report on Tuesday, August 15th. Deutsche Bank AG lowered their price target on shares of RAIT Financial Trust from $2.75 to $1.60 and set a “hold” rating for the company in a report on Tuesday, August 15th. JMP Securities lowered shares of RAIT Financial Trust from a “market perform” rating to an “underperform” rating in a report on Wednesday, August 9th. Finally, Zacks Investment Research lowered shares of RAIT Financial Trust from a “hold” rating to a “sell” rating in a report on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $1.78.
RAIT Financial Trust (NYSE RAS) traded up 0.952% on Friday, reaching $0.594. 1,229,679 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $1.16 and a 200 day moving average of $2.24. RAIT Financial Trust has a 12 month low of $0.52 and a 12 month high of $3.91. The stock’s market capitalization is $55.30 million.
RAIT Financial Trust (NYSE:RAS) last announced its earnings results on Tuesday, August 8th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.08). RAIT Financial Trust had a positive return on equity of 0.98% and a negative net margin of 99.46%. The company had revenue of $22.81 million for the quarter, compared to the consensus estimate of $28.78 million. Equities analysts predict that RAIT Financial Trust will post ($1.84) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 33.97%. The ex-dividend date is Wednesday, August 23rd. RAIT Financial Trust’s dividend payout ratio (DPR) is currently -12.99%.
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.
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