RAIT Financial Trust (NYSE:RAS) Position Reduced by California Public Employees Retirement System

California Public Employees Retirement System cut its position in RAIT Financial Trust (NYSE:RAS) by 5.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 710,400 shares of the real estate investment trust’s stock after selling 42,500 shares during the period. California Public Employees Retirement System owned 0.77% of RAIT Financial Trust worth $2,273,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Foundry Partners LLC increased its position in RAIT Financial Trust by 14.5% in the first quarter. Foundry Partners LLC now owns 1,728,103 shares of the real estate investment trust’s stock worth $5,530,000 after buying an additional 219,450 shares during the period. State Street Corp increased its position in RAIT Financial Trust by 8.5% in the fourth quarter. State Street Corp now owns 1,714,275 shares of the real estate investment trust’s stock valued at $5,759,000 after buying an additional 134,427 shares during the period. Parametric Portfolio Associates LLC increased its position in RAIT Financial Trust by 10.4% in the first quarter. Parametric Portfolio Associates LLC now owns 528,511 shares of the real estate investment trust’s stock valued at $1,691,000 after buying an additional 49,912 shares during the period. Bank of New York Mellon Corp increased its position in RAIT Financial Trust by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 446,648 shares of the real estate investment trust’s stock valued at $1,429,000 after buying an additional 14,880 shares during the period. Finally, Teachers Advisors LLC increased its position in RAIT Financial Trust by 5.4% in the fourth quarter. Teachers Advisors LLC now owns 158,939 shares of the real estate investment trust’s stock valued at $534,000 after buying an additional 8,144 shares during the period. Hedge funds and other institutional investors own 58.69% of the company’s stock.

Shares of RAIT Financial Trust (NYSE RAS) traded down 9.17% during midday trading on Wednesday, hitting $1.09. The stock had a trading volume of 1,925,637 shares. RAIT Financial Trust has a 52-week low of $1.06 and a 52-week high of $3.91. The stock’s market cap is $101.48 million. The firm has a 50 day moving average price of $1.92 and a 200-day moving average price of $2.65.

RAIT Financial Trust (NYSE:RAS) last released its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by $0.08. RAIT Financial Trust had a positive return on equity of 0.98% and a negative net margin of 99.46%. The business had revenue of $22.81 million during the quarter, compared to analyst estimates of $28.78 million. Equities analysts predict that RAIT Financial Trust will post ($0.42) EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 16.67%. The ex-dividend date of this dividend is Wednesday, August 23rd. RAIT Financial Trust’s payout ratio is currently -23.38%.

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RAS has been the topic of several analyst reports. JMP Securities downgraded RAIT Financial Trust from a “market perform” rating to an “underperform” rating in a research report on Wednesday, August 9th. Zacks Investment Research downgraded RAIT Financial Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. FBR & Co downgraded RAIT Financial Trust from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $3.00 to $1.25 in a research report on Tuesday. Deutsche Bank AG lowered their price objective on RAIT Financial Trust from $2.75 to $1.60 and set a “hold” rating on the stock in a research report on Tuesday. Finally, ValuEngine downgraded RAIT Financial Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. RAIT Financial Trust currently has an average rating of “Hold” and a consensus target price of $1.78.

In other RAIT Financial Trust news, insider Thomas D. Wren acquired 45,000 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was bought at an average price of $2.29 per share, with a total value of $103,050.00. Following the completion of the transaction, the insider now directly owns 45,000 shares of the company’s stock, valued at $103,050. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.

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.

Institutional Ownership by Quarter for RAIT Financial Trust (NYSE:RAS)

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