Seeking Alpha

RAIT Financial tumbles post-earnings

  • Adjusted FFO of $0.34 gained 3% from a year ago, but missed estimates by $0.02. Adjusted book value per share of $6.23.
  • For the full year, AFFO of $1.29 per share increased 17% from 2012. Fee income of $28.8M up 125%. Total revenue of $246.9M up 23%. Loan originations of $602.9M up 61%.
  • Average effective rent in multifamily portfolio increased 4% to $756.
  • RAS -5.1%.
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