RAIT Financial Trust (fka RASFQ)

[MCArmel1]

RAIT Financial EPS of -$3.11

Feb 24 2015, 08:05 ET | About: RAIT Financial Trust (RAS) | By: Gaurav Batavia, SA News Editor

RAIT Financial (NYSE:RAS): Q4 EPS of -$3.11 may not be comparable to consensus of $0.27.
Investment interest income of $30.53M (-22.1% Y/Y) misses by $1.64M.
Press Release

http://seekingalpha.com/news/2319836-rait-financial-eps-of-3_11?auth_param=ano5b:1aeotuh:0cff4af51637901589750af8064c3f7f&uprof=45#email_link


RAIT Financial Trust Announces Fourth Quarter and Fiscal 2014 Financial Results
Tue February 24, 2015 8:00 AM|Business Wire | About: RAS

PHILADELPHIA--(BUSINESS WIRE)-- RAIT Financial Trust (RAS) (RAIT) (NYSE:RAS) today announced fourth quarter and fiscal 2014 financial results.

Financial Performance
• Total revenues grew 17.3% to $289.7 million for the year ended December 31, 2014 from $246.9 million for the year ended December 31, 2013.
• Cash Available for Distribution (CAD) per share was $0.26 for the quarter ended December 31, 2014 compared to $0.26 for the quarter ended December 31, 2013.
• CAD per share was $0.71 for the year ended December 31, 2014 inclusive of the previously announced SEC (SCUR) settlement charge pertaining to Taberna Capital Management of $21.5 million or $0.26 per share, as compared to $0.85 for the year ended December 31, 2013.
• Adjusted Book Value (ABV) was $6.16 per share at December 31, 2014.

Commercial Real Estate (CRE) Lending Business
• Investments in mortgages and loans increased 24.1% to $1.39 billion at December 31, 2014 from $1.12 billion at December 31, 2013.
• In 2014, RAIT loan originations increased 63% over 2013 to $983.8 million of loan originations consisting of $505.0 million bridge loans, $459.2 million conduit loans and $19.6 million of mezzanine loans and preferred equity. RAIT originated $602.9 million of loans for the year ended December 31, 2013 consisting of $135.0 million bridge loans, $448.1 million conduit loans and $19.8 million mezzanine loans.
• During 2014, RAIT sponsored two floating-rate CMBS securitizations providing non-recourse, matched-term financing for $415.4 million of RAIT originated first mortgage loans and participations. RAIT successfully issued and sold $337.1 million of investment grade notes with a weighted average cost of LIBOR plus 1.68% representing an advance rate of 81.2% through these securitizations. RAIT retained the subordinated interests of these securitizations totaling $78.3 million which RAIT expects to yield double digit return over their anticipated life.
• RAIT sold $427.1 million of conduit loans during the year ended December 31, 2014 which generated fee income of $9.5 million. RAIT sold $406.9 million of conduit loans during the year ended December 31, 2013 which generated fee income of $18.5 million.

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http://seekingalpha.com/pr/12609646-rait-financial-trust-announces-fourth-quarter-and-fiscal-2014-financial-results