Resource Capital Corp. (RSO) Trading Down 11.2%
Shares of Resource Capital Corp. (NYSE:RSO) fell 11.2% during mid-day trading on Tuesday . The stock traded as low as $11.68 and last traded at $12.11, with a volume of 670,787 shares traded. The stock had previously closed at $13.64.
Separately, Zacks Investment Research upgraded shares of Resource Capital Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $14.30.
The company has a 50-day moving average price of $12.95 and a 200-day moving average price of $11.71. The company’s market capitalization is $379.13 million.
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 28th. Investors of record on Thursday, June 30th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 13.43%. The ex-dividend date was Tuesday, June 28th.
In related news, SVP Jeffrey D. Blomstrom sold 14,721 shares of the business’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $12.58, for a total value of $185,190.18. Following the sale, the senior vice president now owns 53,107 shares in the company, valued at $668,086.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
A hedge fund recently raised its stake in Resource Capital Corp. stock. California Public Employees Retirement System raised its stake in Resource Capital Corp. (NYSE:RSO) by 13.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 171,250 shares of the company’s stock after buying an additional 20,600 shares during the period. California Public Employees Retirement System owned about 0.54% of Resource Capital Corp. worth $2,185,000 at the end of the most recent reporting period.
Resource Capital Corp. is a real estate finance company. The Company invests in asset classes, which include commercial real estate-related assets, residential real estate-related assets and commercial finance assets. Its investments in commercial real estate-related assets include first mortgage loans (referred as whole loans); first priority interests in first mortgage loans; subordinated interests in first mortgage loans, and commercial mortgage-backed securities.
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