RAIT Financial Trust (PK:RASF)

Business Focus: Commercial REITs

Sector:  Financials Industry:  Commercial REITs
See Regulatory Filings on SEC
Company Contact
Address: 100 N 18th St Fl 23
Tel: N/A
Website: www.raitft.com
IR: See website
Key People
Michael Malter
Independent Chairman of the Board
Scott L. N. Davidson
President, Chief Executive Officer, Trustee
Alfred J. Dilmore
Interim Chief Financial Officer, Chief Accounting Officer, Interim Treasurer
John J. Reyle
General Counsel, Senior Managing Director, Chief Legal Officer
Business Overview
RAIT Financial Trust (RAIT) is a real estate investment trust (REIT). The Company focuses on providing commercial real estate (CRE) financing throughout the United States. The core of its business is a full service CRE lending platform focused on first lien loans. It offers customized lending solutions to meet borrower needs and internal credit goals. It offers personalized middle-market financing solutions and a complement of lending products for CRE. The Company may also offer mezzanine loans and preferred equity interests in limited circumstances to support first lien loans. It is engaged in floating rate securitization programs and has access to multiple sources of funding, including senior debt, convertible securities, preferred securities and common securities. The Company also owns and manages a portfolio of CRE properties, and manages real estate assets for third parties. The Company is engaged in lending, owning and managing CRE assets throughout the United States.
Financial Overview
For the fiscal year ended 31 December 2018, RAIT Financial Trust revenues decreased 43% to $80.4M. Net loss applicable to common stockholders excluding extraordinary items decreased 27% to $133.1M. Revenues reflect Property income decrease of 56% to $28.5M, Investment Interest income decrease of 30% to $48.9M, Fee and other income decrease of 51% to $3M. Lower net loss reflects Asset impairment decrease of 54% to $47.5M (expense).
Employees: 25 as of Dec 31, 2018
Reporting Currency: U.S. Dollars
Enterprise value: $584.86M as of Dec 31, 2018
Annual revenue (TTM): $80.38M as of Dec 31, 2018
EBITDA (TTM): -$33.11M as of Dec 31, 2018
Net annual income (TTM): -$133.08M as of Dec 31, 2018
Free cash flow (TTM): -$6.57M as of Dec 31, 2018
Net Debt Last Fiscal Year: $583.46M as of Dec 31, 2018
Shares outstanding: 1,849,530 as of Mar 18, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization