RAIT Financial Trust (NYSE:RAS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “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. “

A number of other equities analysts have also recently issued reports on the company. ValuEngine cut RAIT Financial Trust from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Deutsche Bank AG lowered their target price on RAIT Financial Trust from $2.75 to $1.60 and set a “hold” rating for the company in a report on Tuesday, August 15th. FBR & Co cut RAIT Financial Trust from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $3.00 to $1.25 in a report on Tuesday, August 15th. Finally, JMP Securities cut RAIT Financial Trust from a “market perform” rating to an “underperform” rating in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $1.78.

RAIT Financial Trust (NYSE RAS) opened at 0.535 on Wednesday. The company has a 50-day moving average price of $0.61 and a 200 day moving average price of $1.65. RAIT Financial Trust has a 12-month low of $0.51 and a 12-month high of $3.91. The company’s market cap is $49.81 million.

RAIT Financial Trust (NYSE:RAS) last issued its earnings results 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). RAIT Financial Trust had a positive return on equity of 0.98% and a negative net margin of 99.46%. The firm had revenue of $22.81 million during the quarter, compared to analyst estimates of $28.78 million. On average, analysts forecast that RAIT Financial Trust will post ($1.87) EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. grew its position in shares of RAIT Financial Trust by 0.8% in the 1st quarter. Ameriprise Financial Inc. now owns 80,285 shares of the real estate investment trust’s stock valued at $257,000 after buying an additional 645 shares during the last quarter. Rhumbline Advisers grew its position in shares of RAIT Financial Trust by 1.2% in the 2nd quarter. Rhumbline Advisers now owns 108,361 shares of the real estate investment trust’s stock valued at $237,000 after buying an additional 1,313 shares during the last quarter. American International Group Inc. grew its position in shares of RAIT Financial Trust by 7.0% in the 1st quarter. American International Group Inc. now owns 56,509 shares of the real estate investment trust’s stock valued at $181,000 after buying an additional 3,707 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of RAIT Financial Trust by 4.2% in the 2nd quarter. Alliancebernstein L.P. now owns 107,777 shares of the real estate investment trust’s stock valued at $236,000 after buying an additional 4,300 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of RAIT Financial Trust by 8.8% in the 1st quarter. Wells Fargo & Company MN now owns 67,631 shares of the real estate investment trust’s stock valued at $217,000 after buying an additional 5,475 shares during the last quarter. Hedge funds and other institutional investors own 59.83% of the company’s stock.

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.

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