SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Amster Howard

(Last)

(First)

(Middle)

23811 CHAGRIN BLVD # 200

(Street)

BEACHWOOD

44122-5525

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
RAIT Financial Trust [ RASFN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/29/2018

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
RASFP RAIT FINANCIAL TRUST 7.75% SERIES A CUMULATIVE	11/29/2018		P		3,020	A	$3.4487	1,030,696	I	SEE EXPLANATION BELOW
RASFN RAIT FINANCIAL TRUST 8.875% SERIES C CUMULATIVE	11/29/2018		P		5,145	A	$3.4192	1,035,841	I	SEE EXPLANATION BELOW
RASFO RAIT FINANCIAL TRUST 8.375% SERIES B CUMULATIVE	11/29/2018		S		2,400	D	$3.5	1,033,441	I	SEE EXPLANATION BELOW

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

Remarks:

Howard Amster Maintains Direct Ownership of the Following Shares; RASFP RAIT Financial Trust 7.75% Series A Cumulative 234,537 RASFO RAIT Financial Trust 8.375% Series B Cumulative 132,380 RASFN RAIT Financial Trust 8.875% Series C Cumulative 60,598 Howard Amster Maintains Indirect Ownership of the Following Shares; RASFP RAIT Financial Trust 7.75% Series A Cumulative Amster L.P. Gen Prtr 18,400 Laughlin Holdings LLC Pres. Maj. Mbr 42,400 NewAx Inc. Maj. Shrhldr 1,100 Pleasant Lake Apts LLC Prs. Maj. Mbr 20,000 Pleasant Lake Apts L.P. Prs. Gen Ptnr 59,164 Ramat Securities Ltd LLC Maj Mbr 65,700 Somerset Outlet Centers L.P Pres Gen Ptnr 39,300 RASFO RAIT Financial Trust 8.375% Series B Cumulative Amster L.P. Gen Ptnr 33,677 Horizon Group Properties Inc. Maj. Shrdr 2,400 Pleasant Lake Apts Corp Sole Shrdr 3,400 Pleasant Lake Apts LLC Pres Maj Mbr 8,000 Pleasant Lake Apts L.P. Pres Gen Ptnr 144,799 Pleasant Lake Skoien Inv LLC Pres Maj Mbr 4,974 Ramat Securities Ltd LLC Maj Mbr 43,959 RASFN RAIT Financial Trust 8.875% Series C Cumulative Amster L.P. Gen Ptnr 1,300 Laughlin Holding LLC Pres Maj Mmbr 15,031 Pleasant Lake Apts L.P. Pres Gen Ptnr 65,517 Pleasant Lake Skoien Inv LLC Pres Maj Mbr 6,300 Ramat Securities Ltd LLC Maj Mbr 14,405 Somerset Outlet Centers L.P. Pres Gen Prtr 16,100

	HOWARD AMSTER	12/03/2018
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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