RAIT Financial Trust [Ticker Symbol has Changed]

Symbol: RAS, new symbol: RASF
CIK: 1045425
Exchange: NYSE
Founded: 1997 (22 years)
HQ: Philadelphia, PA, United States
Type of REIT: Mortgage REIT
Listing Status: Public
Market Capitalization: Micro-Cap
REIT Sector: Mortgage

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See RAS on SEC.gov

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N/A

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

Financial Statements Overview

Balance Sheet (Quarterly)

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2018-06-30 2018-03-31 2017-12-31 2017-09-30
Total Assets 1,133,454,000.00 1,604,103,000.00 1,791,833,000.00 1,867,688,000.00
Cash and Equivalents 185,315,000.00 237,445,000.00 211,294,000.00 188,508,000.00
Investments 166,677,000.00 259,810,000.00 231,021,000.00 1,603,906,000.00
Investments Current 0.00 0.00 0.00 0.00
Investments Non-Current 0.00 0.00 0.00 0.00
Deferred Revenue 0.00 0.00 0.00 0.00
Deposit Liabilities 0.00 0.00 0.00 0.00
Property, Plant & Equipment Net 0.00 0.00 0.00 0.00
Inventory 0.00 0.00 0.00 0.00
Tax Assets 0.00 0.00 0.00 0.00
Trade and Non-Trade Receivables 0.00 0.00 0.00 0.00
Trade and Non-Trade Payables 8,756,000.00 8,211,000.00 9,641,000.00 15,201,000.00
Goodwill and Intangible Assets 4,558,000.00 4,949,000.00 5,376,000.00 8,062,000.00
Total Liabilities 1,025,295,000.00 1,383,885,000.00 1,533,703,000.00 1,606,141,000.00
Shareholders Equity 108,159,000.00 146,612,000.00 176,155,000.00 180,014,000.00
Accumulated Retained Earnings (Deficit) -2,009,327,000.00 -1,964,228,000.00 -1,921,533,000.00 -1,916,905,000.00
Accumulated Other Comprehensive Income 12,544,000.00 10,523,000.00 0.00 0.00
Current Assets 0.00 0.00 0.00 0.00
Assets Non-Current 0.00 0.00 0.00 0.00
Current Liabilities 0.00 0.00 0.00 0.00
Liabilities Non-Current 0.00 0.00 0.00 0.00
Tax Liabilities 22,902,000.00 6,350,000.00 12,116,000.00 38,217,000.00
Total Debt 934,389,000.00 1,272,006,000.00 1,390,188,000.00 1,427,947,000.00
Debt Current 0.00 0.00 0.00 0.00
Debt Non-Current 0.00 0.00 0.00 0.00

Income Statement (Quarterly)

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2018-06-30 2018-03-31 2017-12-31 2017-09-30
Revenues 16,553,000.00 18,341,000.00 22,699,000.00 24,603,000.00
Cost of Revenue 7,141,000.00 7,721,000.00 10,823,000.00 10,221,000.00
Selling, General and Administrative Expense 7,198,000.00 9,263,000.00 6,405,000.00 6,427,000.00
Research and Development Expense 0.00 0.00 0.00 0.00
Operating Expenses 49,669,000.00 30,999,000.00 34,217,000.00 21,960,000.00
Interest Expense 6,356,000.00 6,771,000.00 7,862,000.00 8,656,000.00
Income Tax Expense 0.00 0.00 -600,000.00 -34,000.00
Net Income from Discontinued Operations 0.00 0.00 0.00 0.00
Consolidated Income -57,023,000.00 -27,705,000.00 2,463,000.00 -15,843,000.00
Net Income to Non-Controlling Interests 0.00 0.00 0.00 0.00
Net Income -57,023,000.00 -27,705,000.00 2,463,000.00 -15,843,000.00
Preferred Dividends Income Statement Impact -6,861,000.00 6,389,000.00 7,086,000.00 8,387,000.00
Net Income Common Stock -50,162,000.00 -34,094,000.00 -4,623,000.00 -24,230,000.00
Earnings per Basic Share -0.55 -0.37 -0.05 -0.26
Earnings per Diluted Share -0.55 -0.37 -0.05 -0.26
Weighted Average Shares 91,991,289.00 91,874,670.00 91,601,480.00 91,559,636.00
Weighted Average Shares Diluted 91,991,289.00 91,874,670.00 91,601,480.00 91,559,636.00

Cash Flow

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2018-06-30 2018-03-31 2017-12-31 2017-09-30
Capital Expenditure 0.00 0.00 0.00 0.00
Net Cash Flow - Business Acquisitions and Disposals 0.00 0.00 0.00 0.00
Net Cash Flow - Investment Acquisitions and Disposals 64,912,000.00 86,172,000.00 -21,585,000.00 3,435,000.00
Net Cash Flow from Financing -170,407,000.00 -137,582,000.00 -32,834,000.00 -129,877,000.00
Issuance (Repayment) of Debt Securities -113,198,000.00 -121,163,000.00 -1,868,000.00 -123,603,000.00
Issuance (Purchase) of Equity Shares -3,000.00 -71,000.00 -10,000.00 -16,000.00
Payment of Dividends & Other Cash Distributions 0.00 -105,000.00 0.00 -4,574,000.00
Net Cash Flow from Investing 69,331,000.00 76,464,000.00 40,823,000.00 82,470,000.00
Net Cash Flow from Operations 48,946,000.00 87,269,000.00 -628,000.00 4,109,000.00
Effect of Exchange Rate Changes on Cash 0.00 0.00 0.00 0.00
Net Cash Flow / Change in Cash & Cash Equivalents -52,130,000.00 26,151,000.00 7,361,000.00 -43,298,000.00
Share Based Compensation 262,000.00 -539,000.00 779,000.00 779,000.00
Depreciation, Amortization & Accretion 2,887,000.00 3,443,000.00 4,461,000.00 6,139,000.00

About RAIT Financial Trust


RAIT Financial Trust ("RAIT") (NYSE: RAS) is an internally-managed real estate investment trust ("REIT") focused on providing debt financing options to owners of commercial real estate ("CRE") throughout the United States. Additionally, RAIT owns a portfolio of CRE properties located throughout the United States. Since RAIT was formed in 1997, we have built a reputation for consistently executing efficiently with borrowers and their intermediaries by maximizing our experience in commercial real estate, deal structuring, and structured finance to deliver effective property-level financing solutions. We work closely with our borrowers to meet their financing objectives. RAIT utilizes its in-house commercial real estate lending platform to originate, underwrite, close and service quality lending opportunities. These directly originated opportunities are vetted through RAIT’s credit and risk management processes. The loans we make are secured by income-producing properties, including apartment, office and light-industrial properties and neighborhood retail centers.

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