California Public Employees Retirement System boosted its holdings in shares of Resource Capital Corp. (NYSE:RSO) by 8.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 249,603 shares of the real estate investment trust’s stock after acquiring an additional 20,359 shares during the quarter. California Public Employees Retirement System’s holdings in Resource Capital were worth $2,339,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of RSO. Tahithromos L.L.C. lifted its holdings in shares of Resource Capital by 7.9% in the 3rd quarter. Tahithromos L.L.C. now owns 455,088 shares of the real estate investment trust’s stock worth $4,906,000 after buying an additional 33,187 shares during the period. OxFORD Asset Management LLP lifted its holdings in shares of Resource Capital by 46.7% in the 3rd quarter. OxFORD Asset Management LLP now owns 42,823 shares of the real estate investment trust’s stock worth $459,000 after buying an additional 13,624 shares during the period. Perritt Capital Management Inc. purchased a new stake in shares of Resource Capital in the 4th quarter worth $1,546,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Resource Capital by 24.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 248,173 shares of the real estate investment trust’s stock worth $2,676,000 after buying an additional 48,333 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in shares of Resource Capital by 32.1% in the 3rd quarter. Prudential Financial Inc. now owns 195,672 shares of the real estate investment trust’s stock worth $2,110,000 after buying an additional 47,600 shares during the period. Institutional investors own 52.64% of the company’s stock.
Shares of Resource Capital stock opened at $9.48 on Thursday. Resource Capital Corp. has a 1-year low of $8.51 and a 1-year high of $11.38. The firm has a market capitalization of $300.66, a price-to-earnings ratio of 49.89 and a beta of 1.02. The company has a debt-to-equity ratio of 1.73, a current ratio of 141.52 and a quick ratio of 134.66.
Resource Capital (NYSE:RSO) last issued its quarterly earnings data on Wednesday, March 7th. The real estate investment trust reported ($0.15) earnings per share for the quarter. The company had revenue of $11.03 million for the quarter. Resource Capital had a negative return on equity of 1.36% and a net margin of 76.28%. sell-side analysts predict that Resource Capital Corp. will post 0.18 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, March 30th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Wednesday, March 28th. Resource Capital’s dividend payout ratio (DPR) is currently 105.26%.
Several equities research analysts have weighed in on the company. ValuEngine upgraded Resource Capital from a “sell” rating to a “hold” rating in a report on Wednesday, March 14th. JMP Securities upgraded Resource Capital from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 14th. Finally, Zacks Investment Research cut Resource Capital from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $11.75.
In related news, CEO Robert C. Lieber acquired 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The stock was purchased at an average cost of $4.56 per share, for a total transaction of $91,200.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey P. Cohen acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The shares were bought at an average price of $9.26 per share, with a total value of $92,600.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 35,775 shares of company stock valued at $236,737 over the last 90 days. 4.82% of the stock is currently owned by company insiders.
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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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