California State Teachers Retirement System lowered its position in RAIT Financial Trust (NYSE:RAS) by 0.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 192,533 shares of the real estate investment trust’s stock after selling 54 shares during the period. California State Teachers Retirement System owned about 0.21% of RAIT Financial Trust worth $603,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of RAS. Foundry Partners LLC purchased a new stake in shares of RAIT Financial Trust during the second quarter worth $4,491,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of RAIT Financial Trust during the first quarter worth $656,000. Menta Capital LLC purchased a new stake in shares of RAIT Financial Trust during the first quarter worth $314,000. Royce & Associates LP raised its stake in shares of RAIT Financial Trust by 78.3% in the first quarter. Royce & Associates LP now owns 160,545 shares of the real estate investment trust’s stock worth $504,000 after buying an additional 70,500 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of RAIT Financial Trust during the second quarter worth $110,000. 57.26% of the stock is owned by institutional investors.
RAIT Financial Trust (NYSE:RAS) traded down 1.987% during midday trading on Thursday, hitting $3.009. The company’s stock had a trading volume of 210,162 shares. The stock has a 50 day moving average of $3.14 and a 200 day moving average of $3.09. RAIT Financial Trust has a 52-week low of $1.85 and a 52-week high of $5.45. The company’s market cap is $277.39 million.
RAIT Financial Trust (NYSE:RAS) last posted its quarterly earnings results on Friday, August 5th. The real estate investment trust reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.21. RAIT Financial Trust had a return on equity of 9.09% and a net margin of 8.13%. The company earned $85.07 million during the quarter, compared to the consensus estimate of $25.55 million. During the same period in the previous year, the business earned $0.37 earnings per share. On average, equities analysts expect that RAIT Financial Trust will post $0.49 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, October 7th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 11.73%. The ex-dividend date is Wednesday, October 5th. RAIT Financial Trust’s payout ratio is currently -109.09%.
Separately, Zacks Investment Research lowered RAIT Financial Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $3.23.
About RAIT Financial Trust
RAIT Financial Trust (RAIT) is a self-managed and self-advised real estate investment trust (REIT). RAIT uses its vertically integrated platform and relationships to originate commercial real estate loans, acquire commercial real estate properties and invest in, manage and service commercial real estate assets.
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