Resource Capital Corp. (RSO) Shares Down 11.2%
Resource Capital Corp. (NYSE:RSO) shares dropped 11.2% during mid-day trading on Tuesday . The company 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.
RSO has been the topic of several analyst reports. Zacks Investment Research downgraded Resource Capital Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, April 19th. Keefe, Bruyette & Woods lowered their target price on Resource Capital Corp. from $12.00 to $11.00 and set a “market perform” rating on the stock in a research note on Wednesday. Finally, FBR & Co reiterated a “buy” rating on shares of Resource Capital Corp. in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $13.80.
The firm has a market capitalization of $379.21 million and a price-to-earnings ratio of 24.61. The company’s 50 day moving average is $12.94 and its 200-day moving average is $11.74.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 28th. Shareholders of record on Thursday, June 30th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 13.53%. The ex-dividend date of this dividend was Tuesday, June 28th.
In other Resource Capital Corp. news, SVP Jeffrey D. Blomstrom sold 14,721 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $12.58, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available at this link.
A hedge fund recently raised its stake in Resource Capital Corp. stock. California Public Employees Retirement System increased its stake in shares of Resource Capital Corp. (NYSE:RSO) by 13.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 approximately 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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