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

RAS has been the subject of several other research reports. ValuEngine downgraded shares of RAIT Financial Trust from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Deutsche Bank AG dropped their price objective on shares of 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 downgraded shares of RAIT Financial Trust from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $3.00 to $1.25 in a report on Tuesday, August 15th. Finally, JMP Securities downgraded shares of 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 issued a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $1.78.

Shares of RAIT Financial Trust (NYSE:RAS) opened at 0.535 on Wednesday. The stock’s market cap is $49.81 million. RAIT Financial Trust has a 52-week low of $0.51 and a 52-week high of $3.91. The firm’s 50-day moving average price is $0.61 and its 200-day moving average price is $1.65.

RAIT Financial Trust (NYSE:RAS) last released its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.08). RAIT Financial Trust had a negative net margin of 99.46% and a positive return on equity of 0.98%. The company had revenue of $22.81 million for the quarter, compared to the consensus estimate of $28.78 million. Equities analysts predict that RAIT Financial Trust will post ($1.87) EPS for the current year.

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Large investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its holdings in shares of RAIT Financial Trust by 128.0% in the 1st quarter. Bank of America Corp DE now owns 32,861 shares of the real estate investment trust’s stock valued at $105,000 after acquiring an additional 18,448 shares during the last quarter. Bank of Montreal Can bought a new position in shares of RAIT Financial Trust in the 2nd quarter valued at about $110,000. Wells Fargo & Company MN lifted its holdings in shares of RAIT Financial Trust by 43.0% in the 3rd quarter. Wells Fargo & Company MN now owns 35,510 shares of the real estate investment trust’s stock valued at $120,000 after acquiring an additional 10,672 shares during the last quarter. Tudor Investment Corp ET AL lifted its holdings in shares of RAIT Financial Trust by 112.8% in the 2nd quarter. Tudor Investment Corp ET AL now owns 57,888 shares of the real estate investment trust’s stock valued at $127,000 after acquiring an additional 30,685 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of RAIT Financial Trust in the 1st quarter valued at about $133,000. 59.83% of the stock is owned by hedge funds and other institutional investors.

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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