RAIT Financial Trust (NYSE:RAS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.

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. “

Separately, ValuEngine cut RAIT Financial Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $3.00.

RAIT Financial Trust (NYSE RAS) traded down 1.44% on Thursday, reaching $2.05. 1,144,819 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $2.17 and a 200 day moving average price of $2.90. RAIT Financial Trust has a one year low of $1.88 and a one year high of $3.91. The firm’s market cap is $190.02 million.

RAIT Financial Trust (NYSE:RAS) last issued its quarterly earnings data on Wednesday, May 3rd. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The firm had revenue of $29.60 million during the quarter, compared to the consensus estimate of $32.20 million. RAIT Financial Trust had a return on equity of 3.41% and a net margin of 11.06%. During the same period last year, the company earned ($0.20) EPS. On average, equities analysts anticipate that RAIT Financial Trust will post ($0.44) earnings per share for the current year.

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In other news, insider Thomas D. Wren bought 45,000 shares of the stock in a transaction on Monday, June 5th. The shares were bought at an average price of $2.29 per share, with a total value of $103,050.00. Following the completion of the acquisition, the insider now owns 45,000 shares of the company’s stock, valued at $103,050. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Several hedge funds have recently modified their holdings of RAS. Bank of America Corp DE increased its stake in shares of RAIT Financial Trust by 128.0% in the first quarter. Bank of America Corp DE now owns 32,861 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 18,448 shares in the last quarter. SG Americas Securities LLC purchased a new position in RAIT Financial Trust during the first quarter worth approximately $133,000. American International Group Inc. increased its position in RAIT Financial Trust by 7.0% in the first quarter. American International Group Inc. now owns 56,509 shares of the real estate investment trust’s stock worth $181,000 after buying an additional 3,707 shares during the period. Metropolitan Life Insurance Co. NY increased its position in RAIT Financial Trust by 14.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 60,290 shares of the real estate investment trust’s stock worth $193,000 after buying an additional 7,677 shares during the period. Finally, Russell Investments Group Ltd. purchased a new position in RAIT Financial Trust during the fourth quarter worth approximately $215,000. Institutional investors and hedge funds own 60.10% of the company’s stock.

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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