Shares of RAIT Financial Trust (NYSE:RAS) were down 8.1% on Tuesday . The stock traded as low as $0.34 and last traded at $0.34. Approximately 541,708 shares changed hands during mid-day trading, an increase of 17% from the average daily volume of 462,618 shares. The stock had previously closed at $0.37.
Several analysts have weighed in on RAS shares. Zacks Investment Research upgraded shares of RAIT Financial Trust from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 1st. B. Riley reiterated a “neutral” rating on shares of RAIT Financial Trust in a research note on Friday, November 3rd. Finally, ValuEngine cut shares of RAIT Financial Trust from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. RAIT Financial Trust presently has a consensus rating of “Hold” and an average target price of $1.78.
The company has a debt-to-equity ratio of 8.39, a quick ratio of 8.50 and a current ratio of 8.50. The company has a market cap of $32.28, a price-to-earnings ratio of -0.17 and a beta of 1.51.
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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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