RAIT Financial Trust jumps on strong Q2 results
Shares of RAIT Financial Trust (NYSE: RAS) got a jolt in pre-market trading this morning after the diversified real estate finance company reported robust second-quarter results late Wednesday night.
For the three months ended June 30, the Philadelphia-based firm recorded earnings of $53.4 million, or $0.87 per diluted share, compared with earnings of $18.6 million, or $0.66 per diluted share for the second quarter last year.
Net investment income was $52.4 million, compared with $17.1 million for the same quarter last year
Shares of RAIT Financial gained 12.73%, or $1.25, to $11.07 in pre-market trading.
