Emerald Acquisition Ltd. bought a new position in Resource Capital Corp. (NYSE:RSO) during the second quarter, Holdings Channel reports. The institutional investor bought 57,073 shares of the company’s stock, valued at approximately $734,000. Emerald Acquisition Ltd. owned about 0.19% of Resource Capital Corp. at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. purchased a new stake in Resource Capital Corp. during the second quarter worth $1,866,000. Royal Bank of Canada increased its stake in Resource Capital Corp. by 143.2% in the first quarter. Royal Bank of Canada now owns 19,810 shares of the company’s stock worth $222,000 after buying an additional 11,665 shares during the last quarter. LPL Financial LLC increased its stake in Resource Capital Corp. by 8.1% in the first quarter. LPL Financial LLC now owns 86,039 shares of the company’s stock worth $941,000 after buying an additional 6,455 shares during the last quarter. Prudential Financial Inc. increased its stake in Resource Capital Corp. by 7.3% in the first quarter. Prudential Financial Inc. now owns 80,377 shares of the company’s stock worth $904,000 after buying an additional 5,465 shares during the last quarter. Finally, Nisa Investment Advisors L.L.C. increased its stake in Resource Capital Corp. by 94.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 23,900 shares of the company’s stock worth $269,000 after buying an additional 11,600 shares during the last quarter. Institutional investors own 38.91% of the company’s stock.
Shares of Resource Capital Corp. (NYSE:RSO) traded down 0.82% during mid-day trading on Friday, reaching $12.05. The company’s stock had a trading volume of 88,078 shares. The company has a 50-day moving average price of $12.85 and a 200 day moving average price of $12.59. The company has a market cap of $367.62 million, a PE ratio of 23.86 and a beta of 1.11. Resource Capital Corp. has a 52-week low of $8.39 and a 52-week high of $14.06.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 13.94%. The ex-dividend date of this dividend is Wednesday, September 28th. Resource Capital Corp.’s dividend payout ratio (DPR) is currently 336.00%.
A number of research firms recently weighed in on RSO. 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 research report on Friday, August 19th. FBR & Co restated a “buy” rating on shares of Resource Capital Corp. in a research report on Thursday, August 4th. Keefe, Bruyette & Woods dropped their target price on Resource Capital Corp. from $12.00 to $11.00 and set a “market perform” rating for the company in a research report on Wednesday, August 3rd. Finally, Zacks Investment Research upgraded Resource Capital Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 6th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $13.00.
In related news, insider David E. Bloom acquired 8,000 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were purchased at an average price of $12.87 per share, with a total value of $102,960.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.06% of the stock is owned by insiders.
Resource Capital Corp. Company Profile
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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