Resource Capital Corp. (RSO) Announces Earnings Results, Misses Estimates By $0.29 EPS
Resource Capital Corp. (NYSE:RSO) posted its quarterly earnings data on Wednesday. The real estate investment trust reported ($0.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.29), Bloomberg Earnings reports. Resource Capital Corp. had a negative net margin of 48.78% and a negative return on equity of 6.09%. The business had revenue of $10.30 million for the quarter, compared to analysts’ expectations of $9.34 million. The business’s quarterly revenue was down 28.0% on a year-over-year basis.
The company also recently announced a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, September 29th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Thursday, September 28th. Resource Capital Corp.’s dividend payout ratio is -10.93%.
In other Resource Capital Corp. news, Director Jeffrey P. Cohen bought 5,312 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was bought at an average price of $10.30 per share, with a total value of $54,713.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.82% of the stock is owned by company insiders.
A number of equities analysts recently issued reports on RSO shares. BidaskClub cut Resource Capital Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research upgraded Resource Capital Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. FBR & Co boosted their price objective on Resource Capital Corp. from $9.75 to $11.50 and gave the company a “market perform” rating in a report on Tuesday, August 8th. Finally, ValuEngine upgraded Resource Capital Corp. from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $10.83.
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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