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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1045425	Rait Financial Trust	RAS	Real Estate Investment Trusts (6798)	232919819

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1168783	S Edward Brown	C/O Rait Financial Trust Cira Centre, 2929 Arch St., 17Th Fl. Philadelphia PA 19104		No	No	No	Yes

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Shares Of Beneficial Interest	Acquisiton	2012-02-14	5,250	$5.67	33,598	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Shares Of Beneficial Interest	3,333	Indirect	By Brown Family Limited Partnership

Footnotes

The purchases reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person as of February 14, 2012.
The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions on the transaction date at prices ranging from $5.63 to $5.72, inclusive. The reporting person undertakes to provide to RAIT Financial Trust ("RAIT"), any security holder of RAIT or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
This amount has been adjusted for the 1-for-3 reverse stock split of the issuer's common shares of beneficial interest that became effective June 30, 2011.
The sole limited partners of this limited partnership are trusts for the benefit of the children of the reporting person. The sole general partner of this limited partnership is a limited liability company whose sole members are these trusts and whose sole manager is an individual who is not a member of the reporting person's family. None of the reporting person's children share the reporting person's household at this time. The reporting person disclaims beneficial ownership of these common shares, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such common shares for purposes of Section 16 or for any other purpose.