Zacks Upgrades RAIT Financial Trust to “Neutral” (RAS)
RAIT Financial Trust (NYSE:RAS) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research note issued to investors on Tuesday, Analyst RN reports. The firm currently has a $7.30 price target on the stock. Zacks‘ target price would indicate a potential upside of 0.83% from the company’s current price.
RAIT Financial Trust (NYSE:RAS) traded down 0.28% during mid-day trading on Tuesday, hitting $7.24. 319,566 shares of the company’s stock traded hands. RAIT Financial Trust has a 1-year low of $4.65 and a 1-year high of $8.85. The stock’s 50-day moving average is $6.83 and its 200-day moving average is $7.58. The company’s market cap is $508.6 million.
RAIT Financial Trust (NYSE:RAS) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.32 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.36 by $0.04. The company had revenue of $58.60 million for the quarter, compared to the consensus estimate of $34.08 million. On average, analysts predict that RAIT Financial Trust will post $1.20 earnings per share for the current fiscal year.
RAIT Financial Trust (NYSE:RAS) is a self-managed and self-advised real estate investment trust (REIT).
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.