Shares of Resource Capital Corp. (NYSE:RSO) were up 6% during trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $9.68 and last traded at $9.52. Approximately 674,448 shares were traded during mid-day trading, an increase of 218% from the average daily volume of 212,313 shares. The stock had previously closed at $8.98.
Specifically, Director Jeffrey P. Cohen bought 10,000 shares of the firm’s stock in a transaction on Tuesday, March 13th. The stock was purchased at an average price of $9.26 per share, with a total value of $92,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert C. Lieber bought 20,000 shares of the firm’s stock in a transaction on Tuesday, March 13th. The shares were bought at an average cost of $4.56 per share, with a total value of $91,200.00. The disclosure for this purchase can be found here. Insiders have acquired 35,775 shares of company stock valued at $236,737 in the last ninety days. Company insiders own 4.82% of the company’s stock.
A number of equities research analysts have issued reports on RSO shares. Zacks Investment Research cut Resource Capital from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th. ValuEngine cut Resource Capital from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Finally, JMP Securities raised Resource Capital from a “market perform” rating to an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.75.
The stock has a market capitalization of $289.05, a price-to-earnings ratio of 50.11 and a beta of 1.02. The company has a quick ratio of 134.66, a current ratio of 134.66 and a debt-to-equity ratio of 1.60.
Resource Capital (NYSE:RSO) last issued its quarterly earnings results on Wednesday, March 7th. The real estate investment trust reported ($0.15) EPS for the quarter. Resource Capital had a negative return on equity of 1.34% and a net margin of 76.28%. The business had revenue of $11.03 million for the quarter.
Hedge funds have recently modified their holdings of the company. California Public Employees Retirement System lifted its holdings in shares of Resource Capital by 8.5% during the third quarter. California Public Employees Retirement System now owns 229,244 shares of the real estate investment trust’s stock worth $2,471,000 after buying an additional 17,894 shares during the last quarter. Tahithromos L.L.C. lifted its holdings in shares of Resource Capital by 7.9% during the third 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 last quarter. OxFORD Asset Management LLP lifted its holdings in shares of Resource Capital by 46.7% during the third 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 last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Resource Capital by 24.2% during the third 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 last quarter. Finally, Perritt Capital Management Inc. acquired a new position in shares of Resource Capital during the fourth quarter worth approximately $1,546,000. Institutional investors own 52.64% of the company’s stock.
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Resource Capital Company Profile
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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