Highland Capital Management LP decreased its position in shares of RAIT Financial Trust (NYSE:RAS) by 5.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,577,647 shares of the real estate investment trust’s stock after selling 329,100 shares during the period. Highland Capital Management LP owned 6.05% of RAIT Financial Trust worth $18,741,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in RAS. Dynamic Technology Lab Private Ltd acquired a new position in RAIT Financial Trust during the fourth quarter worth about $176,000. Royce & Associates LP increased its position in RAIT Financial Trust by 2.3% in the fourth quarter. Royce & Associates LP now owns 494,547 shares of the real estate investment trust’s stock worth $1,662,000 after buying an additional 11,000 shares during the last quarter. 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 worth $5,759,000 after buying an additional 134,427 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in RAIT Financial Trust during the fourth quarter worth about $215,000. Finally, Analytic Investors LLC increased its position in RAIT Financial Trust by 433.0% in the third quarter. Analytic Investors LLC now owns 180,081 shares of the real estate investment trust’s stock worth $609,000 after buying an additional 146,294 shares during the last quarter. 57.91% of the stock is currently owned by hedge funds and other institutional investors.
Shares of RAIT Financial Trust (NYSE:RAS) traded down 1.31% during trading on Tuesday, reaching $3.78. 310,956 shares of the company’s stock traded hands. The company has a 50 day moving average price of $3.61 and a 200-day moving average price of $3.22. The stock’s market cap is $348.43 million. RAIT Financial Trust has a one year low of $2.23 and a one year high of $3.84.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 31st. Stockholders of record on Tuesday, January 10th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, January 6th. This represents a $0.36 annualized dividend and a dividend yield of 9.52%. RAIT Financial Trust’s dividend payout ratio (DPR) is currently -138.46%.
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A number of equities analysts recently issued reports on RAS shares. Zacks Investment Research raised shares of RAIT Financial Trust from a “sell” rating to a “hold” rating in a report on Wednesday, December 28th. JMP Securities reissued a “hold” rating on shares of RAIT Financial Trust in a report on Monday, November 21st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $3.45.
RAIT Financial Trust Company Profile
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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