RAIT Financial Trust Cut to Underperform at Zacks (RAS)
RAIT Financial Trust (NYSE:RAS) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report released on Wednesday. They currently have a $7.50 price objective on the stock. Zacks‘s price target suggests a potential downside of 5.54% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Keefe, Bruyette & Woods initiated coverage on shares of RAIT Financial Trust in a research note on Monday, July 28th. They set a “market perform” rating and a $8.50 price target on the stock. Analysts at MLV & Co
initiated coverage on shares of RAIT Financial Trust in a research note on Tuesday, June 3rd. They set a “buy” rating and a $10.00 price target on the stock.
RAIT Financial Trust (NYSE:RAS) traded up 0.63% during mid-day trading on Wednesday, hitting $7.99. The stock had a trading volume of 145,539 shares. RAIT Financial Trust has a 52 week low of $6.16 and a 52 week high of $9.21. The stock’s 50-day moving average is $7.94 and its 200-day moving average is $8.10. The company’s market cap is $659.2 million.
RAIT Financial Trust (NYSE:RAS) last announced its earnings results on Thursday, July 31st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by $0.04. The company had revenue of $73.26 million for the quarter, compared to the consensus estimate of $34.91 million. Analysts expect that RAIT Financial Trust will post $1.06 EPS 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 Zacks’ official website.
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.