Resource Capital Corp. (RSO) Lowered to Market Perform at FBR & Co
Resource Capital Corp. (NYSE:RSO) was downgraded by FBR & Co to a “market perform” rating in a research report issued to clients and investors on Tuesday.
Other equities research analysts have also issued reports about the company. JMP Securities upgraded Resource Capital Corp. from a “market perform” rating to an “outperform” rating and set a $14.00 price target for the company in a research report on Friday, August 19th. Keefe, Bruyette & Woods dropped their price target on Resource Capital Corp. from $12.00 to $11.00 and set a “market perform” rating for the company in a research report on Wednesday, August 3rd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Resource Capital Corp. has a consensus rating of “Hold” and a consensus price target of $13.00.
Resource Capital Corp. (NYSE:RSO) opened at 8.57 on Tuesday. Resource Capital Corp. has a one year low of $7.57 and a one year high of $14.06. The stock has a 50 day moving average price of $12.38 and a 200-day moving average price of $12.71. The stock has a market cap of $261.45 million, a PE ratio of 16.97 and a beta of 1.18.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, September 30th were given a $0.42 dividend. The ex-dividend date was Wednesday, September 28th. This represents a $1.68 annualized dividend and a yield of 19.60%. Resource Capital Corp.’s payout ratio is 336.00%.
In other Resource Capital Corp. news, insider David E. Bloom acquired 8,000 shares of the stock in a transaction that occurred on 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.06% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Resource Capital Corp. by 177.5% in the second quarter. BlackRock Inc. now owns 9,489 shares of the company’s stock valued at $122,000 after buying an additional 6,070 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Resource Capital Corp. during the third quarter valued at $138,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Resource Capital Corp. during the second quarter valued at $177,000. BlackRock Advisors LLC raised its position in shares of Resource Capital Corp. by 6.1% in the third quarter. BlackRock Advisors LLC now owns 16,621 shares of the company’s stock valued at $213,000 after buying an additional 949 shares during the last quarter. Finally, BlackRock Group LTD raised its position in shares of Resource Capital Corp. by 3.3% in the third quarter. BlackRock Group LTD now owns 18,560 shares of the company’s stock valued at $238,000 after buying an additional 585 shares during the last quarter. Institutional investors own 39.80% of the company’s stock.
About Resource Capital Corp.
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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