In trading on Wednesday, shares of RAIT Financial Trust's 7.75% Series A Cumulative Redeemable Preferred Shares (RAS.PRA) were yielding above the 8% mark based on its quarterly dividend (annualized to $1.9375), with shares changing hands as low as $24.15 on the day. This compares to an average yield of 6.91% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, RAS.PRA was trading at a 2.40% discount to its liquidation preference amount, versus the average premium of 1.95% in the "Real Estate" category.
RAIT Financial Trust's Series A Preferred Shares Crosses Above 8% Yield Territory
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