RAIT Financial Trust (RAS) Trading Up 2.5% After Dividend Announcement
RAIT Financial Trust (NYSE:RAS)’s share price was up 2.5% during trading on Tuesday following a dividend announcement from the company. The company traded as high as $3.23 and last traded at $3.22, with a volume of 470,803 shares changing hands. The stock had previously closed at $3.14.
The newly announced dividend which will be paid on Monday, October 31st. Investors of record on Friday, October 7th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 11.46%. RAIT Financial Trust’s dividend payout ratio (DPR) is presently -109.09%.
A number of equities research analysts recently commented on RAS shares. TheStreet cut shares of RAIT Financial Trust from a “hold” rating to a “sell” rating in a report on Friday, May 27th. Zacks Investment Research raised shares of RAIT Financial Trust from a “sell” rating to a “hold” rating in a report on Thursday, September 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. RAIT Financial Trust currently has an average rating of “Hold” and a consensus target price of $3.23.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/rait-financial-trust-ras-trading-up-2-5-after-dividend-announcement.html
The firm’s market cap is $296.84 million. The stock’s 50 day moving average price is $3.07 and its 200 day moving average price is $3.06.
RAIT Financial Trust (NYSE:RAS) last posted its quarterly earnings results on Friday, August 5th. The real estate investment trust reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.21. RAIT Financial Trust had a net margin of 8.13% and a return on equity of 9.09%. The firm had revenue of $85.07 million for the quarter, compared to analysts’ expectations of $25.55 million. During the same quarter in the previous year, the company earned $0.37 EPS. Equities analysts forecast that RAIT Financial Trust will post $0.49 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the stock. Analytic Investors LLC purchased a new stake in RAIT Financial Trust during the second quarter worth approximately $106,000. Bank of Montreal Can purchased a new stake in RAIT Financial Trust during the second quarter worth approximately $110,000. American International Group Inc. boosted its stake in RAIT Financial Trust by 8.9% in the second quarter. American International Group Inc. now owns 52,857 shares of the real estate investment trust’s stock worth $165,000 after buying an additional 4,307 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in RAIT Financial Trust by 1.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 61,048 shares of the real estate investment trust’s stock worth $192,000 after buying an additional 867 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in RAIT Financial Trust by 23.9% in the first quarter. Goldman Sachs Group Inc. now owns 65,380 shares of the real estate investment trust’s stock worth $205,000 after buying an additional 12,601 shares during the last quarter. Hedge funds and other institutional investors own 57.26% of the company’s stock.
RAIT Financial Trust Company Profile
RAIT Financial Trust (RAIT) 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.
Receive News & Ratings for RAIT Financial Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RAIT Financial Trust and related companies with MarketBeat.com's FREE daily email newsletter.