RAIT Financial Trust (NYSE:RAS) – B. Riley lowered their FY2017 EPS estimates for shares of RAIT Financial Trust in a research note issued on Thursday. B. Riley analyst J. Levi-Ribner now expects that the real estate investment trust will earn $0.01 per share for the year, down from their prior estimate of $0.02. B. Riley has a “Neutral” rating on the stock. B. Riley also issued estimates for RAIT Financial Trust’s Q4 2017 earnings at $0.01 EPS, Q4 2018 earnings at $0.01 EPS, Q1 2019 earnings at $0.01 EPS, Q2 2019 earnings at $0.02 EPS, Q3 2019 earnings at $0.02 EPS, Q4 2019 earnings at $0.03 EPS and FY2019 earnings at $0.08 EPS.
RAS has been the subject of several other reports. Zacks Investment Research upgraded RAIT Financial Trust from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 1st. ValuEngine cut RAIT Financial Trust from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $1.78.
Shares of RAIT Financial Trust (NYSE RAS) opened at $0.41 on Friday. The firm has a market capitalization of $37.88, a PE ratio of -0.17 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. The company has a current ratio of 8.50, a quick ratio of 8.50 and a debt-to-equity ratio of 8.39.
Hedge funds have recently modified their holdings of the stock. Tricadia Capital Management LLC raised its position in RAIT Financial Trust by 0.5% during the 2nd quarter. Tricadia Capital Management LLC now owns 6,656,391 shares of the real estate investment trust’s stock valued at $14,578,000 after purchasing an additional 34,011 shares during the last quarter. State Street Corp raised its position in RAIT Financial Trust by 4.3% during the 2nd quarter. State Street Corp now owns 2,246,827 shares of the real estate investment trust’s stock valued at $4,925,000 after purchasing an additional 92,051 shares during the last quarter. Northern Trust Corp raised its position in RAIT Financial Trust by 1.6% during the 2nd quarter. Northern Trust Corp now owns 1,126,107 shares of the real estate investment trust’s stock valued at $2,467,000 after purchasing an additional 17,491 shares during the last quarter. Goldman Sachs Group Inc. raised its position in RAIT Financial Trust by 236.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 979,408 shares of the real estate investment trust’s stock valued at $2,145,000 after purchasing an additional 688,000 shares during the last quarter. Finally, Cetera Investment Advisers bought a new position in RAIT Financial Trust during the 2nd quarter valued at approximately $1,348,000. Institutional investors own 51.77% 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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