Insider Buying: Resource Capital Corp. (RSO) Director Acquires $29,700.00 in Stock
Resource Capital Corp. (NYSE:RSO) Director Jeffrey P. Cohen acquired 3,000 shares of the business’s stock in a transaction on Monday, November 6th. The shares were bought at an average price of $9.90 per share, for a total transaction of $29,700.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Jeffrey P. Cohen also recently made the following trade(s):
- On Wednesday, August 16th, Jeffrey P. Cohen acquired 5,312 shares of Resource Capital Corp. stock. The shares were bought at an average price of $10.30 per share, for a total transaction of $54,713.60.
- On Thursday, August 17th, Jeffrey P. Cohen acquired 15,000 shares of Resource Capital Corp. stock. The shares were bought at an average price of $10.26 per share, for a total transaction of $153,900.00.
Shares of Resource Capital Corp. (NYSE:RSO) traded down $0.13 on Friday, hitting $9.70. The stock had a trading volume of 77,681 shares, compared to its average volume of 317,411. Resource Capital Corp. has a one year low of $7.57 and a one year high of $12.65. The company has a debt-to-equity ratio of 1.52, a quick ratio of 169.89 and a current ratio of 169.88.
Resource Capital Corp. (NYSE:RSO) last issued its earnings results on Wednesday, November 1st. The real estate investment trust reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.29). The business had revenue of $10.30 million during the quarter, compared to analyst estimates of $9.34 million. Resource Capital Corp. had a net margin of 63.00% and a negative return on equity of 1.24%. The company’s revenue for the quarter was down 28.0% on a year-over-year basis. sell-side analysts expect that Resource Capital Corp. will post -0.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, September 29th were issued a $0.05 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.06%. Resource Capital Corp.’s dividend payout ratio is 16.13%.
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Several analysts have issued reports on the company. FBR & Co boosted their price objective on Resource Capital Corp. from $9.75 to $11.50 and gave the stock a “market perform” rating in a report on Tuesday, August 8th. Zacks Investment Research downgraded Resource Capital Corp. from a “buy” rating to a “hold” rating in a report on Saturday, September 23rd. ValuEngine upgraded Resource Capital Corp. from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, B. Riley restated a “neutral” rating on shares of Resource Capital Corp. in a report on Friday, November 3rd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Resource Capital Corp. has a consensus rating of “Hold” and an average price target of $10.83.
Several institutional investors and hedge funds have recently modified their holdings of RSO. Vivaldi Asset Management LLC increased its holdings in shares of Resource Capital Corp. by 606.4% in the 2nd quarter. Vivaldi Asset Management LLC now owns 1,135,342 shares of the real estate investment trust’s stock valued at $11,546,000 after purchasing an additional 974,618 shares during the period. Kennedy Capital Management Inc. grew its stake in shares of Resource Capital Corp. by 119.8% in the 2nd quarter. Kennedy Capital Management Inc. now owns 575,246 shares of the real estate investment trust’s stock valued at $5,850,000 after buying an additional 313,581 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Resource Capital Corp. by 315.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 301,627 shares of the real estate investment trust’s stock valued at $2,946,000 after buying an additional 229,052 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of Resource Capital Corp. by 481.8% in the 2nd quarter. Prudential Financial Inc. now owns 148,072 shares of the real estate investment trust’s stock valued at $1,505,000 after buying an additional 122,620 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Resource Capital Corp. in the 1st quarter valued at approximately $920,000. Institutional investors own 45.25% of the company’s stock.
About Resource Capital Corp.
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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