RAIT Financial Trust’s (RAS) Hold Rating Reaffirmed at JMP Securities
RAIT Financial Trust (NYSE:RAS)‘s stock had its “hold” rating restated by equities researchers at JMP Securities in a report issued on Monday.
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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $3.23.
RAIT Financial Trust (NYSE:RAS) traded down 1.64% during midday trading on Monday, reaching $3.00. 144,037 shares of the company traded hands. The stock’s market capitalization is $276.52 million. RAIT Financial Trust has a one year low of $1.85 and a one year high of $4.45. The company has a 50 day moving average price of $2.98 and a 200-day moving average price of $3.09.
RAIT Financial Trust (NYSE:RAS) last released its earnings results on Thursday, November 3rd. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. RAIT Financial Trust had a net margin of 11.18% and a return on equity of 9.61%. Analysts forecast that RAIT Financial Trust will post $0.47 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Friday, October 7th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 11.80%. The ex-dividend date of this dividend was Wednesday, October 5th. RAIT Financial Trust’s dividend payout ratio (DPR) is -138.46%.
A number of hedge funds and other institutional investors have recently bought and sold shares of RAS. Analytic Investors LLC acquired a new position in RAIT Financial Trust during the second quarter worth approximately $106,000. American International Group Inc. increased its position 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 worth $165,000 after buying an additional 4,307 shares during the period. Alliancebernstein L.P. increased its position 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 worth $359,000 after buying an additional 37,057 shares during the period. BlackRock Fund Advisors increased its position 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 worth $13,711,000 after buying an additional 775,569 shares during the period. Finally, BlackRock Investment Management LLC increased its position in 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. 57.74% 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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