RAIT Preferred Shares “Fly” on Dividend Declaration

Beleaguered REIT RAIT Trust (NYSE:RAS) has 3 high yield preferred outstanding and they had fallen into the $8/share area.  Each of the 3 issues have jumped into the $11 area today as the board of directors declared quarterly dividends.

Charts of each issue can be found here.

At one time we figured that RAIT might be a good turnaround story, but after a close review of their financials we don’t see any way for the company to remain solvent.

Common shares jumped to 39 cents from 23 cents today.

The odds we would be involved in this issue are exactly ZERO.


3 thoughts on “RAIT Preferred Shares “Fly” on Dividend Declaration”

  1. Hi James-thanks for the note. I haven’t looked it over for a few weeks, but at the time I thought that eventually they are going to go belly up and all preferreds and most debt will be ‘poof’ gone–but as I said I haven’t looked in the last few days to verify my initial thoughts.

  2. Tim:
    Thank you so much for all that you do. I hold shares of RFTA. They have a little over a year until maturity. Counting dividends, I have made a little on the investment. Do you have any thoughts on RFTA?

    1. Hi Again–I just looked and see I held RFT from 12/2016 until 8/2017 when I became concerned and sold for a slight gain.

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