RAIT Financial Trust (RAS) Given Consensus Rating of “Hold” by Brokerages
Shares of RAIT Financial Trust (NYSE:RAS) have been assigned a consensus rating of “Hold” from the seven brokerages that are covering the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $3.15.
Separately, Zacks Investment Research upgraded shares of RAIT Financial Trust from a “sell” rating to a “hold” rating in a report on Thursday, September 1st.
Shares of RAIT Financial Trust (NYSE:RAS) opened at 2.94 on Thursday. RAIT Financial Trust has a 52 week low of $1.85 and a 52 week high of $4.58. The stock’s market capitalization is $270.99 million. The company’s 50-day moving average is $3.03 and its 200 day moving average is $3.09.
RAIT Financial Trust (NYSE:RAS) last issued its quarterly earnings results on Thursday, November 3rd. The real estate investment trust reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. RAIT Financial Trust had a net margin of 11.18% and a return on equity of 9.61%. On average, equities analysts forecast that RAIT Financial Trust will post $0.47 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Friday, October 7th were given a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, October 5th. This represents a $0.36 annualized dividend and a dividend yield of 12.24%. RAIT Financial Trust’s dividend payout ratio is presently -138.46%.
Large investors have recently added to or reduced their stakes in the company. Analytic Investors LLC bought a new stake in RAIT Financial Trust during the second quarter valued at about $106,000. American International Group Inc. boosted its stake in RAIT Financial Trust by 8.9% in the second quarter. American International Group Inc. now owns 52,857 shares of the real estate investment trust’s stock valued at $165,000 after buying an additional 4,307 shares in the last quarter. Alliancebernstein L.P. boosted its stake in RAIT Financial Trust by 47.8% in the second quarter. Alliancebernstein L.P. now owns 114,657 shares of the real estate investment trust’s stock valued at $359,000 after buying an additional 37,057 shares in the last quarter. BlackRock Fund Advisors boosted its stake in RAIT Financial Trust by 21.5% in the second quarter. BlackRock Fund Advisors now owns 4,380,612 shares of the real estate investment trust’s stock valued at $13,711,000 after buying an additional 775,569 shares in the last quarter. Finally, BlackRock Investment Management LLC boosted its position in shares of RAIT Financial Trust by 7.3% in the second quarter. BlackRock Investment Management LLC now owns 365,801 shares of the real estate investment trust’s stock worth $1,145,000 after buying an additional 25,018 shares during the period. 57.07% of the stock is currently owned by institutional investors and hedge funds.
About RAIT Financial Trust
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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