The stock of RAIT Financial Trust (NYSE:RAS) is a huge mover today! The stock decreased 3.33% or $0.09 on November 8, hitting $2.61. About 313,109 shares traded hands. RAIT Financial Trust (NYSE:RAS) has declined 5.26% since April 6, 2016 and is downtrending. It has underperformed by 7.22% the S&P500.
The move comes after 8 months negative chart setup for the $251.77 million company. It was reported on Nov, 8 by Barchart.com. We have $2.24 PT which if reached, will make NYSE:RAS worth $35.25 million less.
RAIT Financial Trust (NYSE:RAS) Ratings Coverage
Out of 7 analysts covering RAIT Financial Trust (NYSE:RAS), 3 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 43% are positive. RAIT Financial Trust has been the topic of 9 analyst reports since August 3, 2015 according to StockzIntelligence Inc. Ladenburg Thalmann upgraded RAIT Financial Trust (NYSE:RAS) on Monday, August 3 to “Buy” rating. The stock has “Outperform” rating given by FBR Capital on Friday, February 26. JMP Securities downgraded the stock to “Mkt Perform” rating in Wednesday, December 9 report. Compass Point downgraded the shares of RAS in a report on Thursday, December 10 to “Neutral” rating. The firm earned “Buy” rating on Monday, March 14 by Deutsche Bank. The stock of RAIT Financial Trust (NYSE:RAS) has “Outperform” rating given on Friday, January 22 by FBR Capital.
According to Zacks Investment Research, “RAIT Financial Trust is an internally-managed real estate investment trust. It provides debt financing options to owners of commercial real estate and invests directly into commercial real estate properties located throughout the United States. RAIT originates secured and unsecured credit facilities including bridge and mezzanine loans, preferred equity investments, trust preferred securities and subordinated debt for private and corporate owners of commercial real estate, REITs, and real estate operating companies and their intermediaries. The Company is also an asset and property manager of real estate-related assets. RAIT Investment Trust is based in Philadelphia, Pennsylvania.”
Insitutional Activity: The institutional sentiment increased to 1.51 in 2016 Q2. Its up 0.39, from 1.12 in 2016Q1. The ratio increased, as 9 funds sold all RAIT Financial Trust shares owned while 28 reduced positions. 16 funds bought stakes while 40 increased positions. They now own 49.96 million shares or 4.49% less from 52.31 million shares in 2016Q1.
California State Teachers Retirement Systems owns 192,533 shares or 0% of their US portfolio. The New York-based Alliancebernstein Limited Partnership has invested 0% in RAIT Financial Trust (NYSE:RAS). Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in the company for 2,259 shares. The New Jersey-based Blackrock Investment Mngmt Limited Liability has invested 0% in RAIT Financial Trust (NYSE:RAS). Vanguard Gp Inc Inc holds 11.43 million shares or 0% of its portfolio. Gsa Capital Prtnrs Ltd Liability Partnership last reported 95,600 shares in the company. Clarivest Asset Lc holds 91 shares or 0% of its portfolio. The Ontario – Canada-based Manufacturers Life Communications The has invested 0% in RAIT Financial Trust (NYSE:RAS). Swiss Savings Bank last reported 0% of its portfolio in the stock. Rhumbline Advisers reported 121,632 shares or 0% of all its holdings. Bnp Paribas Arbitrage Sa holds 4,175 shares or 0% of its portfolio. Moreover, Ameriprise has 0% invested in RAIT Financial Trust (NYSE:RAS) for 80,880 shares. Menta Cap Limited Liability accumulated 0.02% or 47,995 shares. Fifth Third Fincl Bank accumulated 0% or 342 shares. Commercial Bank Of New York Mellon holds 398,946 shares or 0% of its portfolio.
More notable recent RAIT Financial Trust (NYSE:RAS) news were published by: Reuters.com which released: “BRIEF-RAIT Financial Trust enters employment agreement with Scott Davidson” on November 07, 2016, also Reuters.com with their article: “BRIEF-RAIT Financial Trust Q3 gaap earnings per share $0.00” published on November 03, 2016, Businesswire.com published: “RAIT Financial Trust Declares Fourth Quarter 2016 Preferred Dividends” on November 02, 2016. More interesting news about RAIT Financial Trust (NYSE:RAS) were released by: Reuters.com and their article: “BRIEF-Rait Financial Trust announces new independent chairman of the board…” published on October 24, 2016 as well as Businesswire.com‘s news article titled: “RAIT Financial Trust Announces Third Quarter 2016 Financial Results” with publication date: November 03, 2016.
RAS Company Profile
RAIT Financial Trust (RAIT), incorporated on August 14, 1997, is a self-managed and self-advised real estate investment trust (REIT). RAIT uses its vertically integrated platform and relationships to originate commercial real estate loans, acquire commercial real estate properties and invest in, manage and service commercial real estate assets. The Company’s divisions are real estate lending, owning and managing segment, Independence Realty Trust, Inc. (IRT) segment and Taberna Securitization segment. The Company’s real estate lending, owning and managing segment concentrates on lending, owning and managing commercial real estate assets throughout the United States. The Company’s investment may range from first mortgage loans to equity ownership of a commercial real estate property. The Firm manages its investments in-house through its asset management and property management professionals. The Company’s IRT segment concentrates on the ownership of apartment properties in opportunistic markets throughout the United States. The Company’s Taberna Securitization segment includes the ownership and management of approximately three real estate trust preferred securitizations.
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