RAIT Financial Trust (RAS) Receives Consensus Recommendation of “Hold” from Analysts

Shares of RAIT Financial Trust (NYSE:RAS) have received an average recommendation of “Hold” from the six brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $1.43.

A number of equities analysts have recently issued reports on RAS shares. Zacks Investment Research upgraded shares of RAIT Financial Trust from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 1st. ValuEngine lowered shares of RAIT Financial Trust from a “buy” rating to a “hold” rating in a research report on Saturday, January 13th. Finally, B. Riley restated a “neutral” rating on shares of RAIT Financial Trust in a research report on Friday, November 3rd.

RAIT Financial Trust (NYSE:RAS) opened at $0.49 on Thursday. The company has a current ratio of 8.50, a quick ratio of 8.50 and a debt-to-equity ratio of 8.39. The stock has a market cap of $44.27, a P/E ratio of -0.27 and a beta of 1.99. RAIT Financial Trust has a 1 year low of $0.28 and a 1 year high of $3.91.

Several institutional investors and hedge funds have recently made changes to their positions in RAS. Millennium Management LLC grew its position in shares of RAIT Financial Trust by 1,558.5% during the fourth quarter. Millennium Management LLC now owns 1,409,016 shares of the real estate investment trust’s stock worth $528,000 after acquiring an additional 1,324,058 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of RAIT Financial Trust by 236.1% during the second quarter. Goldman Sachs Group Inc. now owns 979,408 shares of the real estate investment trust’s stock worth $2,145,000 after acquiring an additional 688,000 shares during the last quarter. California Public Employees Retirement System grew its position in shares of RAIT Financial Trust by 34.2% during the fourth quarter. California Public Employees Retirement System now owns 903,409 shares of the real estate investment trust’s stock worth $339,000 after acquiring an additional 229,993 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of RAIT Financial Trust by 166.9% during the second quarter. Ameriprise Financial Inc. now owns 214,290 shares of the real estate investment trust’s stock worth $467,000 after acquiring an additional 134,005 shares during the last quarter. Finally, State Street Corp grew its position in shares of RAIT Financial Trust by 4.3% during the second quarter. State Street Corp now owns 2,246,827 shares of the real estate investment trust’s stock worth $4,925,000 after acquiring an additional 92,051 shares during the last quarter. Institutional investors and hedge funds own 52.22% of the company’s stock.

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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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