Resource Capital Corp. (NYSE:RSO) released its quarterly earnings results 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. The firm had revenue of $10.30 million for the quarter, compared to the consensus estimate of $9.34 million. Resource Capital Corp. had a net margin of 63.00% and a negative return on equity of 1.24%. The business’s quarterly revenue was down 28.0% on a year-over-year basis.
Shares of Resource Capital Corp. (NYSE RSO) traded down $0.25 during trading hours on Friday, hitting $10.11. The company had a trading volume of 210,606 shares, compared to its average volume of 372,223.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, September 29th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.98%. Resource Capital Corp.’s dividend payout ratio (DPR) is presently 74.07%.
In other Resource Capital Corp. news, Director Jeffrey P. Cohen bought 15,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was acquired at an average price of $10.26 per share, with a total value of $153,900.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.82% of the stock is currently owned by insiders.
RSO has been the subject of a number of recent research reports. Zacks Investment Research upgraded Resource Capital Corp. from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Wednesday, September 27th. 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 research note on Tuesday, August 8th. ValuEngine upgraded Resource Capital Corp. from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, BidaskClub downgraded Resource Capital Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $10.83.
About Resource Capital Corp.
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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