RAIT Financial Trust (NYSE:RAS) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $0.18 and last traded at $0.17, with a volume of 951593 shares traded. The stock had previously closed at $0.19.
Several research firms have issued reports on RAS. ValuEngine downgraded RAIT Financial Trust from a “hold” rating to a “sell” rating in a report on Friday. B. Riley set a $1.00 price objective on RAIT Financial Trust and gave the stock a “hold” rating in a report on Wednesday, February 21st. Finally, Zacks Investment Research raised RAIT Financial Trust from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. RAIT Financial Trust presently has a consensus rating of “Hold” and an average target price of $1.59.
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 firm has a market cap of $18.75, a price-to-earnings ratio of -0.11 and a beta of 1.99.
A number of large investors have recently bought and sold shares of RAS. Wells Fargo & Company MN lifted its holdings in RAIT Financial Trust by 23.1% during the 2nd quarter. Wells Fargo & Company MN now owns 83,247 shares of the real estate investment trust’s stock worth $182,000 after buying an additional 15,616 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in RAIT Financial Trust by 4.2% during the 2nd quarter. Alliancebernstein L.P. now owns 107,777 shares of the real estate investment trust’s stock worth $236,000 after buying an additional 4,300 shares in the last quarter. Teachers Advisors LLC lifted its holdings in RAIT Financial Trust by 5.3% during the 2nd quarter. Teachers Advisors LLC now owns 167,388 shares of the real estate investment trust’s stock worth $367,000 after buying an additional 8,449 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of RAIT Financial Trust by 166.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 214,290 shares of the real estate investment trust’s stock valued at $467,000 after acquiring an additional 134,005 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of RAIT Financial Trust by 1.6% during the 2nd quarter. Northern Trust Corp now owns 1,126,107 shares of the real estate investment trust’s stock valued at $2,467,000 after acquiring an additional 17,491 shares during the last quarter. 48.79% of the stock is currently owned by hedge funds and other institutional investors.
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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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