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RAIT Financial Trust

OTCPK:RASF
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
RASF
OTCPK
$1M
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

RAIT Financial Trust is an internally-managed real estate investment trust focused on providing debt financing options to owners of commercial real estate throughout the United States. The last earnings update was 57 days ago. More info.


Add to Portfolio Compare Print
  • RAIT Financial Trust has significant price volatility in the past 3 months.
RASF Share Price and Events
7 Day Returns
9.7%
OTCPK:RASF
1.2%
US REITs
1.6%
US Market
1 Year Returns
-82.3%
OTCPK:RASF
15.2%
US REITs
2.6%
US Market
RASF Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
RAIT Financial Trust (RASF) 9.7% -38.3% -58.2% -82.3% -99.5% -99.8%
US REITs 1.2% 2.9% 3.3% 15.2% 13.3% 25.8%
US Market 1.6% -1.7% 2.1% 2.6% 38.5% 41.4%
1 Year Return vs Industry and Market
  • RASF underperformed the REITs industry which returned 15.2% over the past year.
  • RASF underperformed the Market in United States of America which returned 2.6% over the past year.
Price Volatility
RASF
Industry
5yr Volatility vs Market

Value

 Is RAIT Financial Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of RAIT Financial Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for RAIT Financial Trust.

OTCPK:RASF Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 14.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:RASF
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (42838.45%))
121.112
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (2 * 5.96%)
14.65%

Discounted Cash Flow Calculation for OTCPK:RASF using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for RAIT Financial Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:RASF DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 14.65%)
2019 5.44 Est @ -26.45% 4.75
2020 4.48 Est @ -17.7% 3.41
2021 3.96 Est @ -11.57% 2.63
2022 3.67 Est @ -7.28% 2.13
2023 3.52 Est @ -4.28% 1.77
2024 3.44 Est @ -2.17% 1.51
2025 3.42 Est @ -0.7% 1.31
2026 3.43 Est @ 0.33% 1.15
2027 3.46 Est @ 1.05% 1.01
2028 3.52 Est @ 1.55% 0.90
Present value of next 10 years cash flows $20.57
OTCPK:RASF DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $3.52 × (1 + 2.73%) ÷ (14.65% – 2.73%)
$30.30
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $30.30 ÷ (1 + 14.65%)10
$7.72
OTCPK:RASF Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $20.57 + $7.72
$28.29
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $28.29 / 1.85
$15.3
OTCPK:RASF Discount to Share Price
Calculation Result
Value per share (USD) From above. $15.30
Current discount Discount to share price of $0.79
= -1 x ($0.79 - $15.30) / $15.30
94.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price RAIT Financial Trust is available for.
Intrinsic value
>50%
Share price is $0.79 vs Future cash flow value of $15.3
Current Discount Checks
For RAIT Financial Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • RAIT Financial Trust's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • RAIT Financial Trust's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for RAIT Financial Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are RAIT Financial Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:RASF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-72.37
OTCPK:RASF Share Price ** OTCPK (2019-05-21) in USD $0.79
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.75x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.74x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of RAIT Financial Trust.

OTCPK:RASF PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OTCPK:RASF Share Price ÷ EPS (both in USD)

= 0.79 ÷ -72.37

-0.01x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • RAIT Financial Trust is loss making, we can't compare its value to the US REITs industry average.
  • RAIT Financial Trust is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does RAIT Financial Trust's expected growth come at a high price?
Raw Data
OTCPK:RASF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.58x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for RAIT Financial Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on RAIT Financial Trust's assets?
Raw Data
OTCPK:RASF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $36.97
OTCPK:RASF Share Price * OTCPK (2019-05-21) in USD $0.79
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.89x
United States of America Market PB Ratio Median Figure of 5,202 Publicly-Listed Companies 1.84x
OTCPK:RASF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OTCPK:RASF Share Price ÷ Book Value per Share (both in USD)

= 0.79 ÷ 36.97

0.02x

* Primary Listing of RAIT Financial Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • RAIT Financial Trust is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess RAIT Financial Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. RAIT Financial Trust has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is RAIT Financial Trust expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as RAIT Financial Trust has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.9%
Expected REITs industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is RAIT Financial Trust expected to grow at an attractive rate?
  • Unable to compare RAIT Financial Trust's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare RAIT Financial Trust's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare RAIT Financial Trust's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
OTCPK:RASF Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.9%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.8%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:RASF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:RASF Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
OTCPK:RASF Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 -7 7 -133
2018-09-30 11 10 -115
2018-06-30 25 140 -113
2018-03-31 23 96 -189
2017-12-31 19 11 -185
2017-09-30 41 50 -214
2017-06-30 59 86 -194
2017-03-31 97 125 -109
2016-12-31 110 148 -98
2016-09-30 125 115 -68
2016-06-30 129 119 -98
2016-03-31 119 120 -40

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if RAIT Financial Trust is high growth as no earnings estimate data is available.
  • Unable to determine if RAIT Financial Trust is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:RASF Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from RAIT Financial Trust Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:RASF Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
OTCPK:RASF Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -72.37
2018-09-30 -62.58
2018-06-30 -61.63
2018-03-31 -102.98
2017-12-31 -100.99
2017-09-30 -117.06
2017-06-30 -106.16
2017-03-31 -59.48
2016-12-31 -53.63
2016-09-30 -37.43
2016-06-30 -54.20
2016-03-31 -22.78

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if RAIT Financial Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether RAIT Financial Trust is trading at RAIT Financial Trust'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. RAIT Financial Trust's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Real Estate companies here
  3. While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on the OTC Markets Website. If you are looking for more of a qualitative research into the company, you can access RAIT Financial Trust's filings and announcements here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess RAIT Financial Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
RAIT Financial Trust has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has RAIT Financial Trust performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare RAIT Financial Trust's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • RAIT Financial Trust does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare RAIT Financial Trust's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare RAIT Financial Trust's 1-year growth to the US REITs industry average as it is not currently profitable.
Earnings and Revenue History
RAIT Financial Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from RAIT Financial Trust Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:RASF Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 -6.72 -133.12 26.49
2018-09-30 10.67 -114.98 28.12
2018-06-30 25.19 -113.11 29.29
2018-03-31 22.67 -188.70 28.31
2017-12-31 18.56 -184.70 25.24
2017-09-30 40.98 -213.94 28.41
2017-06-30 58.82 -193.83 29.71
2017-03-31 96.55 -108.53 31.06
2016-12-31 110.08 -97.77 31.71
2016-09-30 124.65 -68.14 23.78
2016-06-30 128.62 -97.56 25.37
2016-03-31 118.81 -39.97 25.39
2015-12-31 140.48 -27.74 30.06
2015-09-30 161.54 -278.51 35.87
2015-06-30 189.04 -268.24 38.51
2015-03-31 227.20 -311.01 42.95
2014-12-31 184.84 -321.36 29.42
2014-09-30 229.11 -198.00 46.32
2014-06-30 221.07 -191.84 43.99
2014-03-31 210.20 -232.06 42.96
2013-12-31 203.58 -308.01 40.20
2013-09-30 191.98 -223.96 39.87
2013-06-30 181.60 -225.24 40.08
2013-03-31 170.06 -166.32 38.11
2012-12-31 156.38 -182.81 37.89
2012-09-30 147.62 -147.99 37.17
2012-06-30 143.06 -150.72 38.29

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if RAIT Financial Trust has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if RAIT Financial Trust has efficiently used its assets last year compared to the US REITs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if RAIT Financial Trust improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess RAIT Financial Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
RAIT Financial Trust has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is RAIT Financial Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up RAIT Financial Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • RAIT Financial Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • RAIT Financial Trust's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of RAIT Financial Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from RAIT Financial Trust Company Filings, last reported 4 months ago.

OTCPK:RASF Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 68.51 625.92 42.45
2018-09-30 84.41 814.99 98.35
2018-06-30 108.16 934.39 72.22
2018-03-31 220.22 1,272.01 84.48
2017-12-31 258.13 1,390.19 53.38
2017-09-30 261.55 1,427.95 46.11
2017-06-30 287.59 1,588.07 89.40
2017-03-31 430.48 1,623.13 96.69
2016-12-31 459.35 1,751.08 110.74
2016-09-30 799.46 1,977.61 36.07
2016-06-30 804.92 3,009.23 66.94
2016-03-31 799.60 3,271.41 94.58
2015-12-31 830.14 2,404.20 87.76
2015-09-30 832.93 3,208.94 92.69
2015-06-30 665.50 2,673.68 105.05
2015-03-31 647.13 2,704.52 92.77
2014-12-31 667.15 2,636.36 121.73
2014-09-30 835.96 2,695.32 607.44
2014-06-30 797.48 2,513.14 564.39
2014-03-31 828.21 2,360.03 597.77
2013-12-31 688.66 2,199.73 571.00
2013-09-30 847.11 2,095.53 602.55
2013-06-30 827.43 2,043.08 548.40
2013-03-31 820.31 2,030.37 563.17
2012-12-31 890.12 1,951.03 586.30
2012-09-30 833.63 1,935.55 532.65
2012-06-30 845.31 1,952.51 535.43
  • RAIT Financial Trust's level of debt (913.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (319% vs 913.7% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making RAIT Financial Trust has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making RAIT Financial Trust has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 31.8% per year.
X
Financial health checks
We assess RAIT Financial Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. RAIT Financial Trust has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is RAIT Financial Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from RAIT Financial Trust dividends.
If you bought $2,000 of RAIT Financial Trust shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate RAIT Financial Trust's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate RAIT Financial Trust's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:RASF Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2003 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:RASF Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
OTCPK:RASF Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-26 0.000 0.000
2018-11-08 0.000 0.000
2018-08-09 0.000 0.000
2018-05-10 0.000 0.000
2018-03-16 0.000 0.000
2017-11-02 0.000 0.000
2017-08-03 10.000 28.191
2017-05-05 18.000 16.490
2017-05-03 18.000 13.336
2016-12-16 18.000 10.947
2016-09-19 18.000 11.740
2016-06-15 18.000 11.598
2016-03-14 18.000 11.903
2016-03-11 31.500 21.993
2016-02-25 31.500 22.834
2015-09-17 36.000 22.103
2015-06-22 36.000 12.923
2015-03-17 36.000 10.944
2014-12-18 36.000 9.876
2014-09-16 36.000 9.805
2014-06-13 36.000 8.998
2014-03-19 34.000 8.428
2013-12-12 32.000 7.557
2013-09-10 30.000 8.092
2013-06-20 26.000 7.341
2013-03-18 24.000 5.953
2012-12-12 20.000 6.071
2012-09-18 18.000 6.730
2012-06-21 16.000 6.779
2012-03-01 16.000 6.893
2011-12-16 12.000 4.517
2011-09-13 12.000 5.764
2011-05-17 12.000 4.772
2011-01-10 4.500 1.132
2010-08-09 0.000 0.000
2010-07-23 0.000 0.000
2010-05-07 0.000 0.000
2010-04-29 0.000 0.000
2010-03-01 0.000 0.000
2010-02-19 0.000 0.000
2009-11-09 0.000 0.000
2009-11-04 0.000 0.000
2009-08-10 0.000 0.000
2009-08-06 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as RAIT Financial Trust has not reported any payouts.
  • Unable to verify if RAIT Financial Trust's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of RAIT Financial Trust's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as RAIT Financial Trust has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess RAIT Financial Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can RAIT Financial Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. RAIT Financial Trust has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of RAIT Financial Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jamie Reyle
COMPENSATION $1,036,044
AGE 39
TENURE AS CEO 1.3 years
CEO Bio

Mr. John J. Reyle, also known as Jamie, has been Chief Executive Officer, President and General Counsel at RAIT Financial Trust since June 27, 2018 and serves as its Director since July 20, 2018. He was Interim Chief Executive Officer and Interim President of RAIT Financial Trust from February 28, 2018 to June 27, 2018. Mr. Reyle was General Counsel of RAIT Financial Trust from February 2017 to June 27, 2018. Mr. Reyle served as the Senior Managing Director and Chief Legal Officer of RAIT Financial Trust since January 2015 until February 2017. He served as Senior Vice President and Corporate Counsel of RAIT Financial Trust from January 2014 to December 2014 and served as its Vice President and Corporate Counsel from May 2012 to December 2013 and Corporate Counsel from August 2009 to May 2012. Prior to joining RAIT, Mr. Reyle was an Associate in the real estate legal departments of Ledgewood, P.C., a law firm, from October 2005 to February 2009 and Cozen O’Conner, P.C., a law firm, from August 2004 to October 2005. During that time, Mr. Reyle concentrated his practice in the area of commercial real estate representing a variety of clients in connection with real estate-based financing, acquisitions and dispositions of commercial real estate, commercial leasing matters, real estate development and basic corporate transactions related to the foregoing.

CEO Compensation
  • Jamie's compensation has increased whilst company is loss making.
  • Jamie's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure of the RAIT Financial Trust management team in years:

1.8
Average Tenure
  • The average tenure for the RAIT Financial Trust management team is less than 2 years, this suggests a new team.
Management Team

Jamie Reyle

TITLE
President
COMPENSATION
$1M
AGE
39
TENURE
1.3 yrs

Alfred Dilmore

TITLE
CFO, Treasurer & Chief Accounting Officer
COMPENSATION
$748K
AGE
36
TENURE
1.8 yrs

Andres Viroslav

TITLE
VP & Director of Corporate Communications

Michael Beatty

TITLE
Senior Managing Director
TENURE
18.3 yrs

Gregory Marks

TITLE
Senior Managing Director

Anders Laren

TITLE
Secretary
Board of Directors Tenure

Average tenure and age of the RAIT Financial Trust board of directors in years:

2.3
Average Tenure
60
Average Age
  • The average tenure for the RAIT Financial Trust board of directors is less than 3 years, this suggests a new board.
Board of Directors

Michael Malter

TITLE
Chairman of the Board
COMPENSATION
$713K
AGE
60
TENURE
2.6 yrs

Jamie Reyle

TITLE
President
COMPENSATION
$1M
AGE
39
TENURE
0.8 yrs

Jon Sarkisian

TITLE
COMPENSATION
$83K
AGE
56
TENURE
7.4 yrs

Tom Wren

TITLE
COMPENSATION
$138K
AGE
66
TENURE
2.3 yrs

Justin Klein

TITLE
COMPENSATION
$122K
AGE
71
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
20. Dec 18 Buy Charles Frischer Individual 19. Dec 18 19. Dec 18 16,442 $0.62 $10,194
17. Dec 18 Buy Charles Frischer Individual 13. Dec 18 13. Dec 18 9 $0.60 $5
17. Dec 18 Buy Charles Frischer Individual 14. Dec 18 14. Dec 18 2,476 $0.84 $2,080
15. Nov 18 Buy Charles Frischer Individual 15. Nov 18 15. Nov 18 747 $2.40 $1,793
14. Nov 18 Buy Charles Frischer Individual 14. Nov 18 14. Nov 18 2,092 $2.40 $5,021
14. Nov 18 Buy Charles Frischer Individual 13. Nov 18 13. Nov 18 3,406 $2.40 $8,174
09. Nov 18 Buy Charles Frischer Individual 07. Nov 18 08. Nov 18 8,827 $2.60 $22,936
18. Sep 18 Buy Charles Frischer Individual 14. Sep 18 17. Sep 18 16,198 $2.75 $44,425
12. Sep 18 Buy Charles Frischer Individual 15. Aug 18 10. Sep 18 49,604 $2.95 $133,846
X
Management checks
We assess RAIT Financial Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. RAIT Financial Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

RAIT Financial Trust is an internally-managed real estate investment trust focused on providing debt financing options to owners of commercial real estate throughout the United States.

Details
Name: RAIT Financial Trust
RASF
Exchange: OTCPK
Founded: 1997
$1,461,108
1,849,504
Website: http://www.rait.com
Address: RAIT Financial Trust
Two Logan Square,
23rd Floor,
Philadelphia,
Pennsylvania, 19103,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OTCPK RASF Common Shares Pink Sheets LLC US USD 09. Jan 1998
OTCPK RASF.N 8.875% CUM PFD C Pink Sheets LLC US USD 11. Jul 2007
Number of employees
Current staff
Staff numbers
25
RAIT Financial Trust employees.
Industry
Diversified REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/22 03:35
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2018/03/16
Last earnings filing: 2019/03/26
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.