First Trust Advisors LP Reduces Position in Resource Capital Corp. (RSO)
First Trust Advisors LP cut its position in shares of Resource Capital Corp. (NYSE:RSO) by 6.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,133 shares of the company’s stock after selling 1,183 shares during the period. First Trust Advisors LP owned about 0.05% of Resource Capital Corp. worth $207,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. American Century Companies Inc. purchased a new stake in shares of Resource Capital Corp. during the second quarter worth approximately $1,866,000. Emerald Acquisition Ltd. purchased a new stake in shares of Resource Capital Corp. during the second quarter worth approximately $734,000. California Public Employees Retirement System raised its stake in shares of Resource Capital Corp. by 10.4% in the second quarter. California Public Employees Retirement System now owns 230,750 shares of the company’s stock worth $2,967,000 after buying an additional 21,800 shares during the period. Royal Bank of Canada raised its stake in shares of Resource Capital Corp. by 143.2% in the first quarter. Royal Bank of Canada now owns 19,810 shares of the company’s stock worth $222,000 after buying an additional 11,665 shares during the period. Finally, Nisa Investment Advisors L.L.C. raised its stake in shares of Resource Capital Corp. by 94.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 23,900 shares of the company’s stock worth $269,000 after buying an additional 11,600 shares during the period. Institutional investors own 38.91% of the company’s stock.
Shares of Resource Capital Corp. (NYSE:RSO) traded up 0.99% during trading on Tuesday, reaching $12.25. The company’s stock had a trading volume of 9,244 shares. The stock’s 50 day moving average price is $12.82 and its 200-day moving average price is $12.61. The firm has a market cap of $373.72 million, a PE ratio of 24.26 and a beta of 1.11. Resource Capital Corp. has a 12 month low of $8.39 and a 12 month high of $14.06.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.68 annualized dividend and a dividend yield of 13.85%. Resource Capital Corp.’s dividend payout ratio is presently 336.00%.
Several analysts recently issued reports on RSO shares. JMP Securities upgraded Resource Capital Corp. from a “market perform” rating to an “outperform” rating and set a $14.00 target price on the stock in a report on Friday, August 19th. Keefe, Bruyette & Woods dropped their target price on Resource Capital Corp. from $12.00 to $11.00 and set a “market perform” rating on the stock in a report on Wednesday, August 3rd. FBR & Co reiterated a “buy” rating on shares of Resource Capital Corp. in a report on Thursday, August 4th. Finally, Zacks Investment Research upgraded Resource Capital Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, July 6th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $13.00.
In other news, insider David E. Bloom bought 8,000 shares of Resource Capital Corp. stock in a transaction dated Wednesday, August 17th. The stock was bought at an average cost of $12.87 per share, for a total transaction of $102,960.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 4.06% of the stock is owned by insiders.
Resource Capital Corp. Company Profile
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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