RAIT Financial Trust (NYSE:RAS)’s share price gapped up before the market opened on Friday . The stock had previously closed at $0.20, but opened at $0.21. RAIT Financial Trust shares last traded at $0.22, with a volume of 2194687 shares traded.
A number of equities analysts recently commented on RAS shares. ValuEngine downgraded shares of RAIT Financial Trust from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. B. Riley set a $1.00 target price on shares of RAIT Financial Trust and gave the stock a “hold” rating in a research note on Wednesday, February 21st. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. RAIT Financial Trust 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 16.83 and a debt-to-equity ratio of 8.39.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC lifted its position in RAIT Financial Trust by 1,558.5% in the fourth quarter. Millennium Management LLC now owns 1,409,016 shares of the real estate investment trust’s stock valued at $528,000 after acquiring an additional 1,324,058 shares during the last quarter. California Public Employees Retirement System lifted its position in RAIT Financial Trust by 34.2% in the fourth quarter. California Public Employees Retirement System now owns 903,409 shares of the real estate investment trust’s stock valued at $339,000 after acquiring an additional 229,993 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in RAIT Financial Trust by 28.3% in the second quarter. The Manufacturers Life Insurance Company now owns 101,754 shares of the real estate investment trust’s stock valued at $222,000 after acquiring an additional 22,438 shares during the last quarter. State Street Corp lifted its position in RAIT Financial Trust by 4.3% in the second quarter. State Street Corp now owns 2,246,827 shares of the real estate investment trust’s stock valued at $4,925,000 after acquiring an additional 92,051 shares during the last quarter. Finally, Northern Trust Corp lifted its position in RAIT Financial Trust by 1.6% in the second 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. 40.74% of the stock is 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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