RAIT Financial Trust Posts Narrower Negative FFO In Q4

(RTTNews) - RAIT Financial Trust (RAS) Thursday announced fourth quarter negative FFO of $6.950 million or $0.08 per share, narrower than negative FFO of $243.63 million of $2.97 per share in the prior year.

Net profit available to commons shares was $1.831 million, compared to a loss of $255 million last year. Earnings per share were $0.02, compared to loss of $3.11 a year ago.

On, average, 5 analysts polled by Thomson Reuters expected to be in a range of $0.22 per share. Analysts estimates usually exclude special items.

Revenue for the quarter increased to $94.344 million, from $73.83 million in the prior year. Wall Street expects $25.37 million.

Looking ahead to 2016, the company expects full year net income allocable to common shares in a range of $22.79 to $31.89 million. CAD per share is expected to be in a range of $0.85 to $0.95 per share.

Street project for full year is $0.79 per share on revenue of $107.60 million.