Resource Capital Corp. (RSO) Upgraded at Zacks Investment Research
Resource Capital Corp. (NYSE:RSO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
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. “
Separately, BidaskClub cut shares of Resource Capital Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Five analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus price target of $9.92.
Shares of Resource Capital Corp. (NYSE RSO) opened at 9.45 on Wednesday. The company’s market capitalization is $291.06 million. Resource Capital Corp. has a 1-year low of $7.57 and a 1-year high of $13.73. The stock has a 50 day moving average price of $9.90 and a 200 day moving average price of $9.22.
Resource Capital Corp. (NYSE:RSO) last announced its earnings results on Tuesday, May 9th. The real estate investment trust reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.17. Resource Capital Corp. had a negative net margin of 47.84% and a negative return on equity of 4.90%. The company had revenue of $11.22 million for the quarter, compared to analysts’ expectations of $8.90 million. Analysts forecast that Resource Capital Corp. will post $0.03 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Forward Management LLC increased its position in shares of Resource Capital Corp. by 4,586.6% in the first quarter. Forward Management LLC now owns 1,396,006 shares of the real estate investment trust’s stock worth $13,639,000 after buying an additional 1,366,219 shares in the last quarter. Allianz Asset Management AG acquired a new position in shares of Resource Capital Corp. during the fourth quarter worth $10,171,000. Real Estate Management Services LLC boosted its stake in Resource Capital Corp. by 13.6% in the third quarter. Real Estate Management Services LLC now owns 1,071,833 shares of the real estate investment trust’s stock worth $13,730,000 after buying an additional 128,434 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Resource Capital Corp. by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 982,389 shares of the real estate investment trust’s stock worth $11,052,000 after buying an additional 5,642 shares during the last quarter. Finally, State Street Corp boosted its stake in Resource Capital Corp. by 7.7% in the first quarter. State Street Corp now owns 684,407 shares of the real estate investment trust’s stock worth $7,694,000 after buying an additional 48,723 shares during the last quarter. 45.42% of the stock is currently owned by institutional investors and hedge funds.
Resource Capital Corp. 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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