Cetera Investment Advisers Takes $1.35 Million Position in RAIT Financial Trust (RAS)
Cetera Investment Advisers acquired a new stake in RAIT Financial Trust (NYSE:RAS) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 620,031 shares of the real estate investment trust’s stock, valued at approximately $1,348,000. Cetera Investment Advisers owned approximately 0.67% of RAIT Financial Trust as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Wells Fargo & Company MN lifted its position in RAIT Financial Trust by 8.8% during the first quarter. Wells Fargo & Company MN now owns 67,631 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 5,475 shares during the period. Bank of New York Mellon Corp lifted its position in RAIT Financial Trust by 3.4% during the first quarter. Bank of New York Mellon Corp now owns 446,648 shares of the real estate investment trust’s stock worth $1,429,000 after buying an additional 14,880 shares during the period. Ameriprise Financial Inc. lifted its position in RAIT Financial Trust by 0.8% during the first quarter. Ameriprise Financial Inc. now owns 80,285 shares of the real estate investment trust’s stock worth $257,000 after buying an additional 645 shares during the period. Parametric Portfolio Associates LLC lifted its position in RAIT Financial Trust by 10.4% during the first quarter. Parametric Portfolio Associates LLC now owns 528,511 shares of the real estate investment trust’s stock worth $1,691,000 after buying an additional 49,912 shares during the period. Finally, SG Americas Securities LLC purchased a new position in RAIT Financial Trust during the first quarter worth about $133,000. Institutional investors and hedge funds own 59.89% of the company’s stock.
RAS has been the topic of several recent analyst reports. Zacks Investment Research upgraded RAIT Financial Trust from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a research report on Wednesday, July 5th. JMP Securities lowered RAIT Financial Trust from a “market perform” rating to an “underperform” rating in a research note on Wednesday, August 9th. Deutsche Bank AG dropped their price target on RAIT Financial Trust from $2.75 to $1.60 and set a “hold” rating for the company in a research note on Tuesday, August 15th. 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. Finally, ValuEngine lowered RAIT Financial Trust from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company currently has an average rating of “Hold” and an average target price of $1.78.
Shares of RAIT Financial Trust (RAS) traded down 5.7973% during midday trading on Monday, reaching $0.5736. The company’s stock had a trading volume of 549,097 shares. RAIT Financial Trust has a 52 week low of $0.52 and a 52 week high of $3.91. The stock’s market capitalization is $53.41 million. The stock has a 50-day moving average price of $0.68 and a 200 day moving average price of $1.87.
RAIT Financial Trust (NYSE:RAS) last released its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The firm had revenue of $22.81 million for the quarter, compared to analyst estimates of $28.78 million. RAIT Financial Trust had a negative net margin of 99.46% and a positive return on equity of 0.98%. Equities analysts forecast that RAIT Financial Trust will post ($1.84) earnings per share for the current year.
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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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