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What: Shares of real estate investment trust RAIT Financial Trust
So what: RAIT has been struggling to keep its head above water ever since the financial meltdown began, and its third-quarter results don't make a very convincing case that things are A-OK quite yet. The REIT reported $0.16 in diluted earnings per share, which was much better than the $0.38-per-share loss last year. However, the profit was driven by gains on debt extinguishment and balance sheet mark-ups, not normal operations. In addition, the bottom line badly missed analyst expectations of $0.26 per share.
Now what: Though real estate has taken a pretty broad drubbing, all real estate investment trusts are not built equal. Health Care REIT
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