SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K
                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported): October 24, 2002

                              RAIT INVESTMENT TRUST
             (Exact name of registrant as specified in its charter)


                                                    
     Maryland                       1-14760                    23-2919819
- ------------------             -----------------          --------------------
(State of incorporation           (Commission               (I.R.S. Employer
 or organization)                 File Number)             Identification No.)



             1818 Walnut Street, 28th Floor, Philadelphia, PA 19103
             ------------------------------------------------------
               (Address of principal executive offices) (Zip Code)

        Registrant's telephone number, including are code (215) 861-7900

ITEM 5 OTHER EVENTS

On October 24, 2002, RAIT Investment Trust issued a press release regarding its
earnings for the third quarter of fiscal 2002.

ITEM 7 FINANCIAL STATEMENTS AND EXHIBITS

      (c)   Exhibits



            Exhibit Number            Description of Document
            --------------            -----------------------
                                   
                 99                        Press Release


                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                              RAIT INVESTMENT TRUST

                        By:  /s/  Ellen J. DiStefano
                             -------------------------------
                             Ellen J. DiStefano
                             Chief Financial Officer


Date: October 31, 2002