RAIT Financial Trust (NYSE:RAS) – Equities researchers at B. Riley reduced their FY2017 earnings per share estimates for shares of RAIT Financial Trust in a note issued to investors on Thursday, according to Zacks Investment Research. B. Riley analyst J. Levi-Ribner now expects that the real estate investment trust will post earnings of $0.01 per share for the year, down from their previous forecast 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.
RAIT Financial Trust (NYSE:RAS) last posted its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $24.60 million during the quarter, compared to analyst estimates of $21.12 million. RAIT Financial Trust had a negative return on equity of 0.66% and a negative net margin of 137.66%.
A number of other research firms have also issued reports on RAS. Zacks Investment Research upgraded RAIT Financial Trust from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 1st. ValuEngine lowered RAIT Financial Trust from a “buy” rating to a “hold” rating in a research report on Saturday, January 13th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $1.78.
RAIT Financial Trust (NYSE RAS) traded down $0.02 during mid-day trading on Friday, hitting $0.46. The stock had a trading volume of 943,800 shares, compared to its average volume of 1,075,225. The company has a quick ratio of 8.50, a current ratio of 8.50 and a debt-to-equity ratio of 8.39. The stock has a market capitalization of $44.69, a price-to-earnings ratio of -0.26 and a beta of 1.99. RAIT Financial Trust has a 1-year low of $0.28 and a 1-year high of $3.91.
A number of institutional investors have recently modified their holdings of the stock. Cetera Investment Advisers purchased a new position in RAIT Financial Trust in the second quarter worth approximately $1,348,000. The Manufacturers Life Insurance Company grew its position in RAIT Financial Trust by 28.3% in the second quarter. The Manufacturers Life Insurance Company now owns 101,754 shares of the real estate investment trust’s stock worth $222,000 after acquiring an additional 22,438 shares during the period. Cubist Systematic Strategies LLC grew its position in 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 worth $169,000 after acquiring an additional 46,839 shares during the period. State Street Corp grew its position in RAIT Financial Trust by 4.3% in the second quarter. State Street Corp now owns 2,246,827 shares of the real estate investment trust’s stock worth $4,925,000 after acquiring an additional 92,051 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in RAIT Financial Trust by 236.1% in the second quarter. Goldman Sachs Group Inc. now owns 979,408 shares of the real estate investment trust’s stock worth $2,145,000 after acquiring an additional 688,000 shares during the period. Institutional investors own 52.01% 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.
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