RAIT Financial Trust (RAS) Price Target Cut to $1.60 by Analysts at Deutsche Bank AG
RAIT Financial Trust (NYSE:RAS) had its target price decreased by research analysts at Deutsche Bank AG from $2.75 to $1.60 in a note issued to investors on Tuesday. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Deutsche Bank AG’s target price would indicate a potential upside of 20.30% from the company’s previous close.
Several other analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of RAIT Financial Trust from a “hold” rating to a “buy” rating and set a $2.50 target price for the company in a research note on Wednesday, July 5th. ValuEngine lowered shares of RAIT Financial Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, JMP Securities lowered shares of RAIT Financial Trust from a “market perform” rating to an “underperform” rating in a research note on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $2.62.
Shares of RAIT Financial Trust (RAS) traded down 4.51% during mid-day trading on Tuesday, reaching $1.27. 224,929 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $1.95 and its 200 day moving average price is $2.66. RAIT Financial Trust has a 52-week low of $1.20 and a 52-week high of $3.91. The company’s market cap is $118.24 million.
RAIT Financial Trust (NYSE:RAS) last posted its earnings results on Tuesday, August 8th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $22.81 million during the quarter, compared to the consensus estimate of $28.78 million. On average, equities research analysts predict that RAIT Financial Trust will post ($0.35) EPS for the current year.
In other news, insider Thomas D. Wren bought 45,000 shares of RAIT Financial Trust stock in a transaction dated Monday, June 5th. The stock was purchased at an average price of $2.29 per share, for a total transaction of $103,050.00. Following the purchase, the insider now directly owns 45,000 shares in the company, valued at approximately $103,050. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of RAS. Goldman Sachs Group Inc. raised its stake in RAIT Financial Trust by 236.1% in the second quarter. Goldman Sachs Group Inc. now owns 979,408 shares of the real estate investment trust’s stock valued at $2,145,000 after buying an additional 688,000 shares during the last quarter. Royce & Associates LP raised its position in RAIT Financial Trust by 133.1% in the first quarter. Royce & Associates LP now owns 1,152,713 shares of the real estate investment trust’s stock valued at $3,689,000 after buying an additional 658,166 shares during the last quarter. Renaissance Technologies LLC raised its position in RAIT Financial Trust by 14.0% in the first quarter. Renaissance Technologies LLC now owns 4,163,100 shares of the real estate investment trust’s stock valued at $13,322,000 after buying an additional 511,400 shares during the last quarter. Forsta AP Fonden bought a new position in RAIT Financial Trust during the second quarter valued at $442,000. Finally, GSA Capital Partners LLP raised its position in RAIT Financial Trust by 162.4% in the second quarter. GSA Capital Partners LLP now owns 265,132 shares of the real estate investment trust’s stock valued at $581,000 after buying an additional 164,100 shares during the last quarter. Hedge funds and other institutional investors own 58.69% of the company’s stock.
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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