Resource Capital Corp. (RSO) Stock Rating Lowered by JMP Securities
Resource Capital Corp. (NYSE:RSO) was downgraded by equities research analysts at JMP Securities from a “market perform” rating to an “underperform” rating in a research note issued on Friday.
Other equities research analysts have also recently issued reports about the stock. FBR & Co restated a “buy” rating on shares of Resource Capital Corp. in a research note on Thursday, August 4th. Keefe, Bruyette & Woods cut their price objective on shares of 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. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.19.
Resource Capital Corp. (NYSE:RSO) opened at 9.28 on Friday. Resource Capital Corp. has a 12-month low of $7.57 and a 12-month high of $14.06. The stock has a market capitalization of $283.11 million, a price-to-earnings ratio of 18.38 and a beta of 1.18. The firm has a 50-day moving average of $11.73 and a 200-day moving average of $12.60.
The company also recently announced a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, September 30th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 18.10%. The ex-dividend date was Wednesday, September 28th. Resource Capital Corp.’s payout ratio is currently -120.00%.
In related news, Director Stephanie H. Wiggins sold 4,278 shares of Resource Capital Corp. stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $9.15, for a total transaction of $39,143.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.06% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position 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 during the last quarter. Citadel Advisors LLC purchased a new position in Resource Capital Corp. during the third quarter worth about $138,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Resource Capital Corp. during the second quarter worth about $177,000. BlackRock Advisors LLC raised its position 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 during the last quarter. Finally, BlackRock Group LTD raised its position 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 during the last quarter. 40.22% of the stock is currently owned by hedge funds and other 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.
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