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Rait Financial Trust (RAS)This is an EDITABLE stock research wiki. You can contribute by clicking on the EDIT PAGE link above or on the page icons that appear when you roll over one of the category subtitles below. From 1Table of contents
Company Information:Company Address: 1818 Market Street 28th Floor Philadelphia, PA 19103
Company’s Web Address: http://www.raitinvestmenttrust.com/
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RAIT Financial Trust is a real estate investment trust (REIT) primarily engaged in the lending and investment aspects of the real estate business. RAS attempts to generate returns for shareholders by investing in the following asset classes 1) commercial mortgages and mezzanine loans, 2) trust preferred securities, 3) residential mortgage loans, 4) mortgage backed securities, 5) real estate investments, and 6) preferred equity in entities that own real estate. RAS generates income for shareholders from interest and dividend income from its investment portfolio, origination fees, and asset management fees. The company's income is generated from net investment income, the difference between interest income on their investment portfolio and the cost of financing the portfolio. Most of the company's portfolio is financed by borrowings and securitizations. RAS uses warehouse agreements, CDOs, and lines of credit to finance the majority of its investments. At the end of 1Q08, the company's investment portfolio (based on amortized costs) stood at $10.6 billion, including $3.5 billion relating to trust preferred securities ("TruPS") and subordinated debentures $2.2 billion in commercial mortgages and mezzanine loans $4.0 billion in residential mortgages and mortgage-related receivables and $0.3 billion of other real estate related investments. The underlying property types of the company's real estate loans are broken down as follows: 50.9% multifamily, 24.7% office properties, 18.7% retail, and 5.7% other assets.
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