RAIT Financial Trust (NYSE:RAS) Cut to Hold at ValuEngine

RAIT Financial Trust (NYSE:RAS) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Sunday, December 31st.

A number of other research firms also recently issued reports on RAS. Zacks Investment Research upgraded shares of RAIT Financial Trust from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 1st. B. Riley reiterated a “neutral” rating on shares of RAIT Financial Trust in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $1.78.

Shares of RAIT Financial Trust (NYSE:RAS) opened at $0.35 on Friday. 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 P/E ratio of -0.15 and a beta of 1.51. RAIT Financial Trust has a fifty-two week low of $0.28 and a fifty-two week high of $3.91.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in shares of RAIT Financial Trust by 128.0% in 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 purchasing 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% in 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 purchasing an additional 30,685 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of 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 valued at $144,000 after purchasing an additional 9,472 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of RAIT Financial Trust by 153.3% in 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 purchasing an additional 46,839 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of RAIT Financial Trust by 23.1% in the second quarter. Wells Fargo & Company MN now owns 83,247 shares of the real estate investment trust’s stock valued at $182,000 after purchasing an additional 15,616 shares during the last quarter. Institutional investors own 51.77% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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