RAIT Financial Trust (RAS) Stock Price Down 8.1%

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.

A number of hedge funds have recently added to or reduced their stakes in RAS. Tudor Investment Corp ET AL increased its holdings in RAIT Financial Trust by 112.8% in the 2nd quarter. Tudor Investment Corp ET AL now owns 57,888 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 30,685 shares during the period. Voya Investment Management LLC increased its holdings in RAIT Financial Trust by 16.9% in the 2nd quarter. Voya Investment Management LLC now owns 65,583 shares of the real estate investment trust’s stock valued at $144,000 after buying an additional 9,472 shares during the period. Cubist Systematic Strategies LLC increased its holdings in RAIT Financial Trust by 153.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 77,390 shares of the real estate investment trust’s stock valued at $169,000 after buying an additional 46,839 shares during the period. Wells Fargo & Company MN increased its holdings in RAIT Financial Trust by 23.1% in the 2nd quarter. Wells Fargo & Company MN now owns 83,247 shares of the real estate investment trust’s stock valued at $182,000 after buying an additional 15,616 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in RAIT Financial Trust by 28.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 101,754 shares of the real estate investment trust’s stock valued at $222,000 after buying an additional 22,438 shares during the period. 51.77% of the stock is currently owned by hedge funds and other institutional investors.

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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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