RAIT Financial Trust (RAS) Shares Down 11.4%

RAIT Financial Trust (NYSE:RAS) fell 11.4% on Wednesday . The company traded as low as $0.31 and last traded at $0.31. 697,900 shares traded hands during trading, a decline of 23% from the average session volume of 909,009 shares. The stock had previously closed at $0.35.

A number of brokerages have recently weighed in on RAS. FBR & Co lowered RAIT Financial Trust from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $3.00 to $1.25 in a research note on Tuesday, August 15th. Deutsche Bank dropped their price target on RAIT Financial Trust from $2.75 to $1.60 and set a “hold” rating on the stock in a research note on Tuesday, August 15th. ValuEngine lowered RAIT Financial Trust from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded RAIT Financial Trust from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Finally, B. Riley restated a “neutral” rating on shares of RAIT Financial Trust in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $1.78.

The company has a debt-to-equity ratio of 8.39, a quick ratio of 8.50 and a current ratio of 8.50.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of RAIT Financial Trust by 1.4% during the first quarter. Vanguard Group Inc. now owns 11,292,580 shares of the real estate investment trust’s stock worth $36,135,000 after purchasing an additional 155,549 shares during the period. Tricadia Capital Management LLC lifted its holdings in shares of RAIT Financial Trust by 0.5% during the second quarter. Tricadia Capital Management LLC now owns 6,656,391 shares of the real estate investment trust’s stock worth $14,578,000 after purchasing an additional 34,011 shares during the period. State Street Corp lifted its holdings in shares of RAIT Financial Trust by 4.3% during 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 purchasing an additional 92,051 shares during the period. Northern Trust Corp lifted its holdings in shares of RAIT Financial Trust by 1.6% during the second quarter. Northern Trust Corp now owns 1,126,107 shares of the real estate investment trust’s stock worth $2,467,000 after purchasing an additional 17,491 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of RAIT Financial Trust by 236.1% during 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 purchasing an additional 688,000 shares during the period. Institutional investors and hedge funds 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.

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