RAIT Financial Trust (NYSE:RAS) has been assigned an average rating of “Hold” from the six research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $1.28.
A number of research firms recently issued reports on RAS. ValuEngine cut shares of RAIT Financial Trust from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. B. Riley set a $1.00 price objective on shares of RAIT Financial Trust and gave the stock a “hold” rating in a research report on Wednesday, February 21st.
In related news, major shareholder Charles L. Frischer acquired 3,004 shares of the stock in a transaction that occurred on Monday, May 7th. The stock was acquired at an average cost of $12.00 per share, for a total transaction of $36,048.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Charles L. Frischer acquired 3,379 shares of the stock in a transaction that occurred on Monday, April 30th. The shares were bought at an average price of $12.45 per share, with a total value of $42,068.55. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 18,983 shares of company stock valued at $217,337. 1.90% of the stock is owned by corporate insiders.
An institutional investor recently raised its position in RAIT Financial Trust stock. Millennium Management LLC raised its holdings in RAIT Financial Trust (NYSE:RAS) by 1,558.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,409,016 shares of the real estate investment trust’s stock after acquiring an additional 1,324,058 shares during the quarter. Millennium Management LLC owned approximately 1.51% of RAIT Financial Trust worth $528,000 as of its most recent SEC filing. 36.20% of the stock is owned by institutional investors and hedge funds.
RAIT Financial Trust opened at $0.16 on Wednesday, MarketBeat reports. RAIT Financial Trust has a 1 year low of $0.15 and a 1 year high of $2.44. The company has a quick ratio of 21.89, a current ratio of 21.89 and a debt-to-equity ratio of 9.30.
RAIT Financial Trust Company Profile
RAIT Financial Trust is an internally-managed real estate investment trust focused on providing debt financing options to owners of commercial real estate throughout the United States. For more information, please visit www.rait.com or call Investor Relations at 215.207.2100.
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