Zacks Investment Research upgraded shares of Resource Capital Corp. (NYSE:RSO) from a sell rating to a hold rating in a research report report published on Thursday, September 7th.
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. “
A number of other research firms also recently weighed in on RSO. FBR & Co raised their price target on shares of Resource Capital Corp. from $9.75 to $11.50 and gave the stock a market perform rating in a research report on Tuesday, August 8th. ValuEngine raised shares of Resource Capital Corp. from a sell rating to a hold rating in a research report on Friday, September 1st. Finally, BidaskClub downgraded shares of Resource Capital Corp. from a buy rating to a hold rating in a research report on Wednesday, July 12th. Five equities research analysts have rated the stock with a hold rating, The stock has a consensus rating of Hold and a consensus target price of $10.25.
Shares of Resource Capital Corp. (NYSE:RSO) traded down 1.37% during mid-day trading on Thursday, reaching $10.06. 148,092 shares of the company’s stock traded hands. The company’s market cap is $310.18 million. The company’s 50 day moving average is $10.42 and its 200 day moving average is $9.75. Resource Capital Corp. has a 12-month low of $7.57 and a 12-month high of $13.44.
Resource Capital Corp. (NYSE:RSO) last issued its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). Resource Capital Corp. had a negative net margin of 48.78% and a negative return on equity of 6.09%. The firm had revenue of $9.29 million during the quarter, compared to analyst estimates of $9.42 million. On average, analysts predict that Resource Capital Corp. will post ($0.31) EPS for the current fiscal year.
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In other news, Director Jeffrey P. Cohen acquired 5,312 shares of Resource Capital Corp. stock in a transaction that occurred on Wednesday, August 16th. The shares were purchased at an average cost of $10.30 per share, for a total transaction of $54,713.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.82% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd bought a new stake in shares of Resource Capital Corp. during the first quarter valued at about $163,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Resource Capital Corp. during the first quarter valued at about $216,000. Denver Investment Advisors LLC bought a new stake in shares of Resource Capital Corp. during the first quarter valued at about $123,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Resource Capital Corp. by 17.3% during the first quarter. Metropolitan Life Insurance Co. NY now owns 23,019 shares of the real estate investment trust’s stock valued at $225,000 after purchasing an additional 3,397 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Resource Capital Corp. by 315.6% during the first quarter. Goldman Sachs Group Inc. now owns 301,627 shares of the real estate investment trust’s stock valued at $2,946,000 after purchasing an additional 229,052 shares in the last quarter. Institutional investors own 45.93% 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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