RAIT Financial (RAS) Reports Q2 Loss of $0.08

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Go back to RAIT Financial (RAS) Reports Q2 Loss of $0.08

RAIT Financial Trust Announces Second Quarter 2016 Financial Results

August 5, 2016 7:45 AM EDT

PHILADELPHIA--(BUSINESS WIRE)-- RAIT Financial Trust (RAIT) (NYSE: RAS) today announced second quarter 2016 financial results. All per share results are reported on a diluted basis.

Highlights

As part of RAITs capital recycling and debt reduction plan, RAIT sold six properties for $49.2 million during the quarter ended June 30, 2016 and eight properties totaling $65.9 million for the six-months ended June 30, 2016. RAITs indebtedness, based on principal amount, declined by $247.1 million, comprised of $34.5 million of recourse indebtedness and $212.6 million of non-recourse indebtedness, during the quarter ended June 30, 2016 from March 31, 2016.... More