RAIT Financial Trust (RAS) Shares Down 2.5%

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.

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in shares of RAIT Financial Trust by 128.0% during the first quarter. Bank of America Corp DE now owns 32,861 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 18,448 shares during the last quarter. American International Group Inc. raised its stake in shares of RAIT Financial Trust by 7.0% during the first quarter. American International Group Inc. now owns 56,509 shares of the real estate investment trust’s stock worth $181,000 after purchasing an additional 3,707 shares during the last quarter. Tudor Investment Corp ET AL raised its position in RAIT Financial Trust by 112.8% in the second quarter. Tudor Investment Corp ET AL now owns 57,888 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 30,685 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in RAIT Financial Trust by 14.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 60,290 shares of the real estate investment trust’s stock worth $193,000 after acquiring an additional 7,677 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in RAIT Financial Trust by 16.9% in the second quarter. Voya Investment Management LLC now owns 65,583 shares of the real estate investment trust’s stock worth $144,000 after acquiring an additional 9,472 shares in the last quarter. Institutional investors and hedge funds own 57.88% of the company’s stock.

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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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