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.
WARNING: “RAIT Financial Trust (RAS) Shares Down 11.4%” was first posted by Ticker Report and is the property of of Ticker Report. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this news story can be read at https://www.tickerreport.com/banking-finance/3092595/rait-financial-trust-ras-shares-down-11-4.html.
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.
Receive News & Ratings for RAIT Financial Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RAIT Financial Trust and related companies with MarketBeat.com's FREE daily email newsletter.