Resource Capital Corp. (NYSE:RSO) – Investment analysts at B. Riley cut their FY2017 earnings per share estimates for Resource Capital in a research note issued on Thursday. B. Riley analyst J. Levi-Ribner now anticipates that the real estate investment trust will post earnings per share of ($0.71) for the year, down from their previous estimate of ($0.70). B. Riley has a “Neutral” rating on the stock. B. Riley also issued estimates for Resource Capital’s Q1 2018 earnings at $0.00 EPS, Q2 2018 earnings at ($0.01) EPS and FY2018 earnings at ($0.05) EPS.
Resource Capital (NYSE:RSO) last announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.29). The company had revenue of $10.30 million for the quarter, compared to the consensus estimate of $9.34 million. Resource Capital had a net margin of 63.00% and a negative return on equity of 1.23%. The firm’s revenue was down 28.0% on a year-over-year basis.
Shares of Resource Capital (NYSE:RSO) opened at $9.62 on Monday. The stock has a market cap of $301.91, a P/E ratio of 35.63 and a beta of 1.09. The company has a current ratio of 134.66, a quick ratio of 134.66 and a debt-to-equity ratio of 1.60. Resource Capital has a 1-year low of $7.90 and a 1-year high of $11.38.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Thursday, December 28th. Resource Capital’s payout ratio is 74.07%.
In other Resource Capital news, Director William B. Hart bought 3,000 shares of Resource Capital stock in a transaction on Friday, November 17th. The shares were purchased at an average cost of $9.61 per share, with a total value of $28,830.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have acquired a total of 10,805 shares of company stock worth $104,798 over the last three months. Insiders own 4.82% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of RSO. Vivaldi Asset Management LLC grew its holdings in Resource Capital by 19.7% during the 3rd quarter. Vivaldi Asset Management LLC now owns 1,359,095 shares of the real estate investment trust’s stock worth $14,651,000 after acquiring an additional 223,753 shares during the last quarter. Prudential Financial Inc. grew its holdings in Resource Capital by 481.8% during the 2nd quarter. Prudential Financial Inc. now owns 148,072 shares of the real estate investment trust’s stock worth $1,505,000 after acquiring an additional 122,620 shares during the last quarter. Tahithromos L.L.C. grew its holdings in Resource Capital by 24.6% during the 2nd quarter. Tahithromos L.L.C. now owns 421,901 shares of the real estate investment trust’s stock worth $4,291,000 after acquiring an additional 83,391 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Resource Capital by 24.2% during 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 acquiring an additional 48,333 shares during the last quarter. Finally, GSA Capital Partners LLP grew its holdings in Resource Capital by 28.2% during the 3rd quarter. GSA Capital Partners LLP now owns 178,825 shares of the real estate investment trust’s stock worth $1,928,000 after acquiring an additional 39,300 shares during the last quarter. 50.19% of the stock is currently owned by hedge funds and other institutional investors.
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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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