Zacks Investment Research upgraded shares of Resource Capital Corp. (NYSE:RSO) from a sell rating to a hold rating in a research report sent to investors on Wednesday, July 19th.
According to Zacks, “Resource Capital Corp. is a specialty finance company that began operations in March and intends to qualify to be taxed as a real estate investment trust for federal income tax purposes. RCC invests in a combination of real estate-related assets and, to a lesser extent, higher-yielding commercial finance assets, targeting the following asset classes commercial real estate-related assets such as B notes, mezzanine debt and commercial mortgage-backed securities; residential real estate-related assets such as residential mortgage-backed securities; and commercial finance assets such as other asset-backed securities, syndicated bank loans, equipment leases, trust preferred securities and private equity investments principally issued by financial institutions. “
Separately, BidaskClub lowered shares of Resource Capital Corp. from a buy rating to a hold rating in a research report on Wednesday, July 12th.
Resource Capital Corp. (NYSE:RSO) opened at 11.02 on Wednesday. The stock’s market cap is $345.90 million. Resource Capital Corp. has a 12-month low of $7.57 and a 12-month high of $13.57. The firm’s 50 day moving average price is $10.03 and its 200-day moving average price is $9.33.
Resource Capital Corp. (NYSE:RSO) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by $0.01. The company had revenue of $9.29 million for the quarter, compared to analysts’ expectations of $9.42 million. Resource Capital Corp. had a negative return on equity of 6.08% and a negative net margin of 48.78%. Equities research analysts anticipate that Resource Capital Corp. will post $0.03 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, June 30th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.81%. The ex-dividend date was Wednesday, June 28th. Resource Capital Corp.’s payout ratio is -10.93%.
A number of institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in shares of Resource Capital Corp. during the first quarter valued at about $118,000. Denver Investment Advisors LLC acquired a new position in shares of Resource Capital Corp. during the first quarter valued at about $123,000. Teza Capital Management LLC acquired a new position in shares of Resource Capital Corp. during the first quarter valued at about $144,000. UBS Asset Management Americas Inc. acquired a new position in shares of Resource Capital Corp. during the first quarter valued at about $146,000. Finally, TFS Capital LLC purchased a new position in Resource Capital Corp. during the first quarter valued at about $159,000. 46.01% of the stock is currently owned by institutional investors.
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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