RAIT Financial Trust (NYSE:RAS) dropped 2.5% on Tuesday . The company traded as low as $0.37 and last traded at $0.39. Approximately 420,500 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 857,831 shares. The stock had previously closed at $0.40.
RAS has been the subject of a number of research reports. Deutsche Bank AG reduced their price objective on RAIT Financial Trust from $2.75 to $1.60 and set a “hold” rating for the company in a research note on Tuesday, August 15th. Zacks Investment Research upgraded RAIT Financial Trust from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 1st. ValuEngine cut RAIT Financial Trust from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. FBR & Co cut RAIT Financial Trust from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $3.00 to $1.25 in a research note on Tuesday, August 15th. Finally, B. Riley reiterated a “neutral” rating on shares of RAIT Financial Trust in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. RAIT Financial Trust presently has a consensus rating of “Hold” and a consensus target price of $1.78.
The company has a debt-to-equity ratio of 7.99, a quick ratio of 12.92 and a current ratio of 12.92.
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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