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  <TITLE> RAIT Investment Trust (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	October 24, 2006
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  	RAIT Investment Trust
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	&nbsp;
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  	Maryland
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  	1-14760
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  	23-2919819
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	c/o RAIT Partnership, L.P., 1818 Market Street, 28th Floor, Philadelphia, Pennsylvania
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  	&nbsp;
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  	19103
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	(215) 861-7900
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
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  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  	Item 1.01 Entry into a Material Definitive Agreement.
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        At a meeting of the compensation committee (the "Compensation Committee") of the board of trustees of RAIT Investment Trust ("RAIT") held on October 24, 2006, the Compensation Committee adopted a Form of Unit Award to Cover Grants to Section 16 Officers to evidence grants approved on that date to two RAIT officers who are required to file reports pursuant to Section 16 of the Securities Exchange Act of 1934.  These grants were made, and this form was adopted under, the RAIT Investment Trust 2005 Equity Compensation Plan (the "Plan").  A copy of this form is attached to this current report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.  This form of unit award differs from the Form of Unit Award to Cover Grants to Section 16 Officers adopted by the Compensation Committee on January 24, 2006 (the "January Form") under the Plan with respect to its vesting provisions.  The Compensation Committee intends to continue to use the January Form for future grants.<br><br><br>
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  	Item 9.01 Financial Statements and Exhibits.
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  (d)      Exhibits<br><br>Exhibit<br>Number       Exhibit Description<br>-------      -------------------<br>10.1         Form of Unit Award to Cover Grants to Section 16 Officers on 10/24/2006.<br><br>
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  	SIGNATURES
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  	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.
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  	RAIT Investment Trust
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  	&nbsp;&nbsp;
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  <I>
  	October 27, 2006
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  <I>
  	By:
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  	&nbsp;
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  <I>
  	/s/  Ellen J. DiStefano
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  	&nbsp;
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  <I>
  	Name: Ellen J. DiStefano
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  <I>
  	Title: Executive Vice President and Chief Financial Officer
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	Description
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  	10.1
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  	&nbsp;
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  Form of Unit Award to Cover Grants to Section 16 Officers on 10/24/2006.
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_15880.htm", "description": "LIVE FILING", "secsgml_size_bytes": 10954}]
metadata_filer: {"company-data": {"conformed-name": "RAIT INVESTMENT TRUST", "cik": "0001045425", "assigned-sic": "6798", "irs-number": "232919819", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-14760", "film-number": "061170735"}, "business-address": {"street1": "1818 MARKET ST", "street2": "28TH FL", "city": "PHILADELPHIA", "state": "PA", "zip": "19103", "phone": "2155465119"}, "mail-address": {"street1": "1521 LOCUST ST", "street2": "6TH FL", "city": "PHILADELPHIA", "state": "PA", "zip": "19102"}, "former-company": {"former-conformed-name": "RESOURCE ASSET INVESTMENT TRUST", "date-changed": "19970904"}}
text: RAIT Investment Trust (Form: 8-K)
  UNITED STATES
  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, 2006
  RAIT Investment Trust
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Maryland
  1-14760
  23-2919819
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  c/o RAIT Partnership, L.P., 1818 Market Street, 28th Floor, Philadelphia, Pennsylvania
  19103
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  (215) 861-7900
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 1.01 Entry into a Material Definitive Agreement.
  At a meeting of the compensation committee (the "Compensation Committee") of the board of trustees of RAIT Investment Trust ("RAIT") held on October 24, 2006, the Compensation Committee adopted a Form of Unit Award to Cover Grants to Section 16 Officers to evidence grants approved on that date to two RAIT officers who are required to file reports pursuant to Section 16 of the Securities Exchange Act of 1934.  These grants were made, and this form was adopted under, the RAIT Investment Trust 2005 Equity Compensation Plan (the "Plan").  A copy of this form is attached to this current report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.  This form of unit award differs from the Form of Unit Award to Cover Grants to Section 16 Officers adopted by the Compensation Committee on January 24, 2006 (the "January Form") under the Plan with respect to its vesting provisions.  The Compensation Committee intends to continue to use the January Form for future grants.
  Item 9.01 Financial Statements and Exhibits.
  (d)      Exhibits
  Exhibit
  Number       Exhibit Description
  -------      -------------------
  10.1         Form of Unit Award to Cover Grants to Section 16 Officers on 10/24/2006.
  Top of the Form
  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
  October 27, 2006
  By:
  /s/  Ellen J. DiStefano
  Name: Ellen J. DiStefano
  Title: Executive Vice President and Chief Financial Officer
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  10.1
  Form of Unit Award to Cover Grants to Section 16 Officers on 10/24/2006.