RAIT Financial Trust (RAS) Lowered to “Hold” at ValuEngine
RAIT Financial Trust (NYSE:RAS) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Friday.
Several other equities analysts have also commented on RAS. Zacks Investment Research raised shares of RAIT Financial Trust from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a report on Wednesday, July 5th. JMP Securities lowered shares of RAIT Financial Trust from a “market perform” rating to an “underperform” rating in a report on Wednesday, August 9th. Deutsche Bank AG reduced their target price on shares of RAIT Financial Trust from $2.75 to $1.60 and set a “hold” rating on the stock in a report on Tuesday, August 15th. Finally, FBR & Co lowered shares of RAIT Financial Trust from a “buy” rating to a “neutral” rating and reduced their target price for the company from $3.00 to $1.25 in a report on Tuesday, August 15th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. RAIT Financial Trust has an average rating of “Hold” and a consensus price target of $1.78.
RAIT Financial Trust (NYSE RAS) opened at 0.83 on Friday. The company has a 50-day moving average of $1.50 and a 200 day moving average of $2.41. RAIT Financial Trust has a 12-month low of $0.79 and a 12-month high of $3.91. The firm’s market cap is $77.28 million.
RAIT Financial Trust (NYSE:RAS) last released its earnings results on Tuesday, August 8th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.08. RAIT Financial Trust had a negative net margin of 99.46% and a positive return on equity of 0.98%. The business had revenue of $22.81 million for the quarter, compared to the consensus estimate of $28.78 million. Equities analysts expect that RAIT Financial Trust will post ($1.84) EPS for the current fiscal year.
In other news, insider Thomas D. Wren purchased 45,000 shares of the company’s stock in a transaction on Monday, June 5th. The stock was acquired at an average price of $2.29 per share, with a total value of $103,050.00. Following the transaction, the insider now directly owns 45,000 shares of the company’s stock, valued at approximately $103,050. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Shell Asset Management Co. purchased a new stake in shares of RAIT Financial Trust during the first quarter valued at $501,000. Acadian Asset Management LLC purchased a new stake in shares of RAIT Financial Trust during the first quarter valued at $372,000. Forsta AP Fonden purchased a new stake in shares of RAIT Financial Trust during the second quarter valued at $442,000. Creative Planning boosted its stake in shares of RAIT Financial Trust by 10.1% in the second quarter. Creative Planning now owns 603,650 shares of the real estate investment trust’s stock valued at $1,322,000 after buying an additional 55,358 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of RAIT Financial Trust by 10.4% in the first quarter. Parametric Portfolio Associates LLC now owns 528,511 shares of the real estate investment trust’s stock valued at $1,691,000 after buying an additional 49,912 shares during the last quarter. 59.90% of the stock is owned by institutional investors and hedge funds.
About RAIT Financial Trust
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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