RAIT Financial Trust (NYSE:RAS) shares were down 10.5% during mid-day trading on Friday . The stock traded as low as $0.34 and last traded at $0.34. Approximately 9,123,000 shares changed hands during mid-day trading, an increase of 917% from the average daily volume of 896,762 shares. The stock had previously closed at $0.38.
Several research analysts have issued reports on RAS shares. Zacks Investment Research raised RAIT Financial Trust from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 1st. ValuEngine cut RAIT Financial Trust from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. B. Riley reaffirmed a “neutral” rating on shares of RAIT Financial Trust in a research note on Friday, November 3rd. Deutsche Bank decreased their price objective on RAIT Financial Trust from $2.75 to $1.60 and set a “hold” rating on the stock in a research note on Tuesday, August 15th. Finally, FBR & Co downgraded RAIT Financial Trust from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $3.00 to $1.25 in a research note on Tuesday, August 15th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $1.78.
The company has a debt-to-equity ratio of 8.39, a current ratio of 8.50 and a quick ratio of 8.50.
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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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