Resource Capital Corp. (RSO) Shares Down 1.5%
Resource Capital Corp. (NYSE:RSO) shares were down 1.5% during trading on Thursday . The stock traded as low as $12.65 and last traded at $12.66, with a volume of 66,127 shares traded. The stock had previously closed at $12.85.
Several research analysts have commented on RSO shares. Zacks Investment Research raised Resource Capital Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 6th. Keefe, Bruyette & Woods reduced their price objective 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, August 3rd. FBR & Co reissued a “buy” rating on shares of Resource Capital Corp. in a research note on Thursday, August 4th. Finally, JMP Securities raised Resource Capital Corp. from a “market perform” rating to an “outperform” rating and set a $14.00 price objective on the stock in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $13.20.
The stock’s 50-day moving average is $12.93 and its 200 day moving average is $11.98. The stock has a market cap of $403.32 million and a price-to-earnings ratio of 26.18.
The company also recently declared a quarterly dividend, which was paid on Thursday, July 28th. Investors of record on Thursday, June 30th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, June 28th. This represents a $1.68 annualized dividend and a yield of 12.71%.
In other news, insider David E. Bloom purchased 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was acquired at an average cost of $12.87 per share, with a total value of $102,960.00. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.
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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