Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Resource Capital Corp. (NYSE:RSO) during the second quarter, Holdings Channel reports. The fund bought 13,750 shares of the company’s stock, valued at approximately $177,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. California Public Employees Retirement System boosted its position in shares of Resource Capital Corp. by 10.4% in the second quarter. California Public Employees Retirement System now owns 230,750 shares of the company’s stock valued at $2,967,000 after buying an additional 21,800 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of Resource Capital Corp. during the second quarter valued at $734,000. American Century Companies Inc. purchased a new position in shares of Resource Capital Corp. during the second quarter valued at $1,866,000. Royal Bank of Canada boosted its position in shares of Resource Capital Corp. by 143.2% in the first quarter. Royal Bank of Canada now owns 19,810 shares of the company’s stock valued at $222,000 after buying an additional 11,665 shares in the last quarter. Finally, LPL Financial LLC boosted its position in shares of Resource Capital Corp. by 8.1% in the first quarter. LPL Financial LLC now owns 86,039 shares of the company’s stock valued at $941,000 after buying an additional 6,455 shares in the last quarter. 38.91% of the stock is owned by institutional investors and hedge funds.
Shares of Resource Capital Corp. (NYSE:RSO) traded up 0.87% during midday trading on Friday, hitting $12.81. The stock had a trading volume of 163,459 shares. The firm’s 50-day moving average price is $13.08 and its 200-day moving average price is $12.54. Resource Capital Corp. has a one year low of $8.39 and a one year high of $14.06. The firm has a market capitalization of $390.81 million, a PE ratio of 25.37 and a beta of 1.04.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 30th will be given a $0.42 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.68 annualized dividend and a yield of 13.11%. Resource Capital Corp.’s payout ratio is 336.00%.
Several research analysts recently weighed in on the company. JMP Securities raised 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 note on Friday, August 19th. FBR & Co reaffirmed a “buy” rating on shares of Resource Capital Corp. in a research note on Thursday, August 4th. Keefe, Bruyette & Woods reduced their target price on Resource Capital Corp. from $12.00 to $11.00 and set a “market perform” rating for the company in a report on Wednesday, August 3rd. Finally, Zacks Investment Research raised Resource Capital Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, July 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $13.20.
In other Resource Capital Corp. news, insider David E. Bloom acquired 8,000 shares of the business’s stock in a transaction on Wednesday, August 17th. The stock was purchased at an average price of $12.87 per share, for a total transaction of $102,960.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.06% of the stock is owned by company insiders.
About Resource Capital Corp.
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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