Alliancebernstein L.P. Cuts Position in Resource Capital Corp. (NYSE:RSO)
Alliancebernstein L.P. cut its position in shares of Resource Capital Corp. (NYSE:RSO) by 24.9% during the first quarter, Holdings Channel reports. The firm owned 33,560 shares of the real estate investment trust’s stock after selling 11,112 shares during the period. Alliancebernstein L.P.’s holdings in Resource Capital Corp. were worth $328,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of Resource Capital Corp. during the first quarter worth approximately $118,000. Denver Investment Advisors LLC bought a new position in shares of Resource Capital Corp. during the first quarter worth approximately $123,000. Teza Capital Management LLC bought a new position in shares of Resource Capital Corp. during the first quarter worth approximately $144,000. UBS Asset Management Americas Inc. bought a new position in shares of Resource Capital Corp. during the first quarter worth approximately $146,000. Finally, TFS Capital LLC bought a new position in shares of Resource Capital Corp. during the first quarter worth approximately $159,000. Institutional investors and hedge funds own 46.02% of the company’s stock.
Shares of Resource Capital Corp. (NYSE RSO) traded down 0.66% on Friday, reaching $10.58. 351,564 shares of the company were exchanged. The firm’s market capitalization is $326.21 million. Resource Capital Corp. has a 12-month low of $7.57 and a 12-month high of $13.57. The company’s 50 day moving average is $10.24 and its 200 day moving average is $9.45.
Resource Capital Corp. (NYSE:RSO) last issued its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by $0.01. Resource Capital Corp. had a negative return on equity of 6.09% and a negative net margin of 48.78%. The business had revenue of $9.29 million during the quarter, compared to the consensus estimate of $9.42 million. Analysts forecast that Resource Capital Corp. will post $0.03 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, June 30th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Wednesday, June 28th. Resource Capital Corp.’s dividend payout ratio (DPR) is presently -10.93%.
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A number of research analysts recently commented on the stock. FBR & Co upped their price target on shares of Resource Capital Corp. from $9.75 to $11.50 and gave the company a “market perform” rating in a research note on Tuesday, August 8th. BidaskClub lowered shares of Resource Capital Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Zacks Investment Research upgraded shares of Resource Capital Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th.
Resource Capital Corp. Company Profile
Resource Capital Corp. is a real estate finance company. The Company operates through four segments: Commercial Real Estate Debt Investments, Commercial Finance, Residential Mortgage Lending and Corporate & Other. The Commercial Real Estate Debt Investments segment includes the Company’s activities and operations related to commercial real estate loans, commercial real estate-related securities and investments in real estate.
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