Zacks Investment Research upgraded shares of RAIT Financial Trust (NYSE:RAS) from a strong sell rating to a hold rating in a research report released on Wednesday, November 1st.
According to Zacks, “RAIT Financial Trust is an internally-managed real estate investment trust. It provides debt financing options to owners of commercial real estate and invests directly into commercial real estate properties located throughout the United States. RAIT originates secured and unsecured credit facilities including bridge and mezzanine loans, preferred equity investments, trust preferred securities and subordinated debt for private and corporate owners of commercial real estate, REITs, and real estate operating companies and their intermediaries. The Company is also an asset and property manager of real estate-related assets. RAIT Investment Trust is based in Philadelphia, Pennsylvania. “
Several other analysts also recently weighed in on the company. JMP Securities downgraded RAIT Financial Trust from a market perform rating to an underperform rating in a research note on Wednesday, August 9th. FBR & Co downgraded RAIT Financial Trust from a buy rating to a neutral rating and lowered their target price for the company from $3.00 to $1.25 in a research note on Tuesday, August 15th. Deutsche Bank AG lowered their target price 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. Finally, ValuEngine downgraded RAIT Financial Trust from a buy rating to a hold rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. RAIT Financial Trust presently has a consensus rating of Hold and a consensus target price of $1.78.
RAIT Financial Trust (RAS) opened at $0.40 on Wednesday. The company has a debt-to-equity ratio of 7.99, a current ratio of 12.92 and a quick ratio of 12.92. RAIT Financial Trust has a 52-week low of $0.36 and a 52-week high of $3.91.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in RAS. Bank of America Corp DE raised its holdings 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 valued at $105,000 after buying an additional 18,448 shares during the last quarter. Tudor Investment Corp ET AL raised its holdings in shares of RAIT Financial Trust by 112.8% during the second 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 last quarter. SG Americas Securities LLC bought a new stake in shares of RAIT Financial Trust during the first quarter valued at approximately $133,000. Voya Investment Management LLC raised its holdings in shares of RAIT Financial Trust by 16.9% during the second 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 last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of RAIT Financial Trust by 153.3% during the second 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 last quarter. 57.88% of the stock is currently owned by institutional investors.
RAIT Financial Trust Company Profile
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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