RAIT Financial Trust (RAS) Trading Down 5.9%

RAIT Financial Trust (NYSE:RAS) dropped 5.9% during mid-day trading on Thursday . The stock traded as low as $0.16 and last traded at $0.16. Approximately 3,417,825 shares were traded during mid-day trading, an increase of 48% from the average daily volume of 2,313,802 shares. The stock had previously closed at $0.17.

RAS has been the subject of several research reports. ValuEngine cut shares of RAIT Financial Trust from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. B. Riley set a $1.00 price objective on shares of RAIT Financial Trust and gave the company a “hold” rating in a research report on Wednesday, February 21st. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. RAIT Financial Trust has an average rating of “Hold” and a consensus price target of $1.59.

The company has a debt-to-equity ratio of 8.39, a current ratio of 16.83 and a quick ratio of 16.83.

Large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in shares of 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 purchasing an additional 22,438 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of RAIT Financial Trust by 34.2% in the 4th quarter. California Public Employees Retirement System now owns 903,409 shares of the real estate investment trust’s stock valued at $339,000 after purchasing an additional 229,993 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of RAIT Financial Trust by 1,558.5% in the 4th quarter. Millennium Management LLC now owns 1,409,016 shares of the real estate investment trust’s stock valued at $528,000 after purchasing an additional 1,324,058 shares in the last quarter. Institutional investors and hedge funds own 40.74% 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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