Whose got insight into RAIT Finanacial Trust
After reading a TMF article this morning about REIT's, I came across RAIT Financial Trust. It looked too good to be true as TMF data had this company giving a dividend of 229%. WOW! So, going to the companies website, I learned that the common share, selling at ~ $2.00 does not give a dividend. Hence the info on TMF was inaccurate. Its the A, B and C shares that give a dividend. They're trading at ~ $18-20, ~7-10% divident rate. So, aside from being bummed that info was inaccurate on TMF, I read the blogs about this company and I just don't get it. It seems like the purchasers of common stock are helping the company meet its quarterly dividend obligation to holders of A, B, and C shares. But then again, I don't totally understand what the company does to begin with.
SO...anyone out there in Fooldom willing to shed some light on this compnay for me?