Resource Capital Corp. (NYSE:RSO) – B. Riley cut their FY2017 EPS estimates for Resource Capital in a research note issued to investors on Thursday. B. Riley analyst J. Levi-Ribner now expects that the real estate investment trust will post earnings of ($0.71) per share for the year, down from their previous forecast of ($0.70). B. Riley has a “Neutral” rating on the stock. B. Riley also issued estimates for Resource Capital’s Q1 2018 earnings at $0.00 EPS, Q2 2018 earnings at ($0.01) EPS and FY2018 earnings at ($0.05) EPS.
Separately, Zacks Investment Research upgraded Resource Capital from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Resource Capital has a consensus rating of “Hold” and an average price target of $11.75.
Resource Capital (NYSE:RSO) last announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.29). Resource Capital had a net margin of 63.00% and a negative return on equity of 1.23%. The company had revenue of $10.30 million for the quarter, compared to analyst estimates of $9.34 million. The company’s revenue was down 28.0% compared to the same quarter last year.
Several institutional investors and hedge funds have recently bought and sold shares of RSO. Vivaldi Asset Management LLC boosted its position in shares of Resource Capital by 19.7% in the third quarter. Vivaldi Asset Management LLC now owns 1,359,095 shares of the real estate investment trust’s stock valued at $14,651,000 after acquiring an additional 223,753 shares during the period. Prudential Financial Inc. lifted its position in Resource Capital by 481.8% in the second quarter. Prudential Financial Inc. now owns 148,072 shares of the real estate investment trust’s stock worth $1,505,000 after purchasing an additional 122,620 shares during the period. Tahithromos L.L.C. lifted its position in Resource Capital by 24.6% in the second quarter. Tahithromos L.L.C. now owns 421,901 shares of the real estate investment trust’s stock worth $4,291,000 after purchasing an additional 83,391 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Resource Capital by 24.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 248,173 shares of the real estate investment trust’s stock worth $2,676,000 after purchasing an additional 48,333 shares during the period. Finally, GSA Capital Partners LLP lifted its position in Resource Capital by 28.2% in the third quarter. GSA Capital Partners LLP now owns 178,825 shares of the real estate investment trust’s stock worth $1,928,000 after purchasing an additional 39,300 shares during the period. 50.19% of the stock is owned by institutional investors.
In other Resource Capital news, Director Jeffrey P. Cohen acquired 3,000 shares of Resource Capital stock in a transaction dated Monday, November 6th. The stock was bought at an average cost of $9.90 per share, with a total value of $29,700.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have acquired 10,805 shares of company stock worth $104,798. Corporate insiders own 4.82% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.20 annualized dividend and a yield of 2.10%. Resource Capital’s dividend payout ratio (DPR) is presently 16.13%.
About Resource Capital
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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