RAIT Financial Trust (RAS) Downgraded by ValuEngine

ValuEngine cut shares of RAIT Financial Trust (NYSE:RAS) from a buy rating to a hold rating in a research report released on Saturday morning.

A number of other research analysts also recently commented on the stock. Zacks Investment Research raised shares of RAIT Financial Trust from a strong sell rating to a hold rating in a research report on Wednesday, November 1st. B. Riley reaffirmed a neutral rating on shares of RAIT Financial Trust in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has an average rating of Hold and an average target price of $1.78.

Shares of RAIT Financial Trust (NYSE:RAS) traded up $0.02 during trading hours on Friday, hitting $0.41. 958,648 shares of the company’s stock were exchanged, compared to its average volume of 813,383. RAIT Financial Trust has a 52 week low of $0.28 and a 52 week high of $3.91. The company has a current ratio of 8.50, a quick ratio of 8.50 and a debt-to-equity ratio of 8.39.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers grew its position in shares of RAIT Financial Trust by 1.2% in the 2nd quarter. Rhumbline Advisers now owns 108,361 shares of the real estate investment trust’s stock valued at $237,000 after buying an additional 1,313 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of RAIT Financial Trust by 4.2% in the 2nd quarter. Alliancebernstein L.P. now owns 107,777 shares of the real estate investment trust’s stock valued at $236,000 after buying an additional 4,300 shares during the last quarter. Teachers Advisors LLC grew its position in shares of RAIT Financial Trust by 5.3% in the 2nd quarter. Teachers Advisors LLC now owns 167,388 shares of the real estate investment trust’s stock valued at $367,000 after buying an additional 8,449 shares during the last quarter. Voya Investment Management LLC grew its position in shares of RAIT Financial Trust by 16.9% in the 2nd quarter. Voya Investment Management LLC now owns 65,583 shares of the real estate investment trust’s stock valued at $144,000 after buying an additional 9,472 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of RAIT Financial Trust by 23.1% in the 2nd quarter. Wells Fargo & Company MN now owns 83,247 shares of the real estate investment trust’s stock valued at $182,000 after buying an additional 15,616 shares during the last quarter. 51.77% of the stock is currently owned by hedge funds and other institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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