RAIT Financial Trust reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported total revenue of $29,603,000 against $48,651,000 a year ago. Operating loss was $12,470,000 against $5,181,000 a year ago. Loss before taxes was $21,788,000 against $12,981,000 a year ago. Loss from continuing operations was $21,539,000 against $11,988,000 a year ago. Net loss available to common shares was $30,085,000 or $0.33 per basic and diluted share against $17,844,000 or $0.20 per basic and diluted share a year ago. Funds used in operations were $27,783,000 or $0.30 per basic share against $2,731,000 or $0.03 per basic share a year ago. Adjusted EBITDA was $21,224,000 against $54,443,000 a year ago.

The company reported asset impairment of $7,424,000 for the first quarter of 2017 against $3,922,000 a year ago.