Real Estate Management Services LLC continued to hold its stake in Resource Capital Corp. (NYSE:RSO) during the second quarter, Holdings Channel reports. The institutional investor owned 943,399 shares of the company’s stock at the end of the second quarter. Resource Capital Corp. accounts for 2.1% of Real Estate Management Services LLC’s holdings, making the stock its 20th largest position. Real Estate Management Services LLC’s holdings in Resource Capital Corp. were worth $12,132,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the stock. American Century Companies Inc. bought a new stake in Resource Capital Corp. during the second quarter worth about $1,866,000. Royal Bank of Canada raised 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 in the last quarter. LPL Financial LLC raised 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 in the last quarter. Geode Capital Management LLC raised its stake in Resource Capital Corp. by 0.4% in the first quarter. Geode Capital Management LLC now owns 208,193 shares of the company’s stock worth $2,342,000 after buying an additional 774 shares in the last quarter. Finally, Prudential Financial Inc. raised 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 in the last quarter. 38.91% of the stock is currently owned by institutional investors.
Shares of Resource Capital Corp. (NYSE:RSO) traded down 1.09% during midday trading on Monday, hitting $12.67. The stock had a trading volume of 106,107 shares. Resource Capital Corp. has a one year low of $8.39 and a one year high of $14.06. The stock has a 50 day moving average of $13.08 and a 200-day moving average of $12.54. The company has a market cap of $386.54 million, a P/E ratio of 25.09 and a beta of 1.11.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 30th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 13.26%. The ex-dividend date is Wednesday, September 28th. Resource Capital Corp.’s dividend payout ratio (DPR) is presently 336.00%.
A number of research firms have issued reports on RSO. JMP Securities raised Resource Capital Corp. from a “market perform” rating to an “outperform” rating and set a $14.00 price target on the stock in a research report on Friday, August 19th. FBR & Co reaffirmed a “buy” rating on shares of Resource Capital Corp. in a research report on Thursday, August 4th. Keefe, Bruyette & Woods reduced their price target on Resource Capital Corp. from $12.00 to $11.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 3rd. Finally, Zacks Investment Research raised 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 given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $13.20.
In other news, insider David E. Bloom purchased 8,000 shares of the stock in a transaction on Wednesday, August 17th. The stock was purchased at an average price of $12.87 per share, with a total value of $102,960.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.06% of the company’s stock.
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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