Jeffrey P. Cohen Buys 2,000 Shares of Resource Capital Corp. (RSO) Stock
Resource Capital Corp. (NYSE:RSO) Director Jeffrey P. Cohen bought 2,000 shares of the stock in a transaction on Wednesday, November 16th. The shares were acquired at an average cost of $9.00 per share, for a total transaction of $18,000.00. Following the purchase, the director now owns 2,000 shares in the company, valued at $18,000. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Resource Capital Corp. (NYSE:RSO) traded up 1.28% during midday trading on Friday, reaching $9.47. The company had a trading volume of 619,722 shares. Resource Capital Corp. has a 52-week low of $7.57 and a 52-week high of $14.06. The company’s 50-day moving average is $11.92 and its 200 day moving average is $12.63. The company has a market cap of $288.91 million, a PE ratio of 18.75 and a beta of 1.18.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Friday, September 30th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 17.74%. The ex-dividend date was Wednesday, September 28th. Resource Capital Corp.’s dividend payout ratio is currently -120.00%.
Several equities research analysts recently commented on RSO shares. Keefe, Bruyette & Woods lowered 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 note on Wednesday, August 3rd. FBR & Co restated a “buy” rating on shares of Resource Capital Corp. in a report on Thursday, August 4th. Finally, JMP Securities upgraded Resource Capital Corp. from a “market perform” rating to an “outperform” rating and set a $14.00 target price for the company in a report on Friday, August 19th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company has a consensus rating of “Hold” and an average target price of $12.19.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Resource Capital Corp. by 177.5% in the second quarter. BlackRock Inc. now owns 9,489 shares of the company’s stock worth $122,000 after buying an additional 6,070 shares in the last quarter. Citadel Advisors LLC acquired a new stake in Resource Capital Corp. during the third quarter worth approximately $138,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Resource Capital Corp. during the second quarter worth approximately $177,000. BlackRock Advisors LLC raised its stake in Resource Capital Corp. by 6.1% in the third quarter. BlackRock Advisors LLC now owns 16,621 shares of the company’s stock worth $213,000 after buying an additional 949 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in Resource Capital Corp. by 3.3% in the third quarter. BlackRock Group LTD now owns 18,560 shares of the company’s stock worth $238,000 after buying an additional 585 shares in the last quarter. 39.80% of the stock is currently owned by institutional investors.
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.
Receive News & Stock Ratings for Resource Capital Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Resource Capital Corp. and related stocks with our FREE daily email newsletter.