Resource Capital Corp. (RSO) Forecasted to Post Q1 2019 Earnings of ($0.03) Per Share
Resource Capital Corp. (NYSE:RSO) – Analysts at B. Riley issued their Q1 2019 earnings per share estimates for Resource Capital in a research report issued to clients and investors on Thursday. B. Riley analyst J. Levi-Ribner expects that the real estate investment trust will post earnings per share of ($0.03) for the quarter. B. Riley currently has a “Neutral” rating on the stock. B. Riley also issued estimates for Resource Capital’s Q2 2019 earnings at ($0.01) EPS, Q3 2019 earnings at $0.02 EPS, Q4 2019 earnings at $0.03 EPS and FY2019 earnings at $0.00 EPS.
Resource Capital (NYSE:RSO) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $9.34 million. Resource Capital had a net margin of 63.00% and a negative return on equity of 1.23%. The company’s quarterly revenue was down 28.0% compared to the same quarter last year.
Separately, Zacks Investment Research upgraded Resource Capital from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Resource Capital has a consensus rating of “Hold” and an average price target of $11.75.
Shares of Resource Capital (NYSE RSO) traded down $0.13 during midday trading on Friday, hitting $9.62. The stock had a trading volume of 119,056 shares, compared to its average volume of 264,478. The firm has a market capitalization of $301.91, a PE ratio of 7.76 and a beta of 1.13. The company has a debt-to-equity ratio of 1.60, a quick ratio of 134.66 and a current ratio of 134.66. Resource Capital has a twelve month low of $7.90 and a twelve month high of $11.38.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, December 29th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Thursday, December 28th. Resource Capital’s payout ratio is currently 16.13%.
In related news, Director William B. Hart acquired 3,000 shares of Resource Capital stock in a transaction dated Friday, November 17th. The shares were acquired at an average cost of $9.61 per share, for a total transaction of $28,830.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders bought 10,805 shares of company stock worth $104,798. Insiders own 4.82% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its stake in shares of Resource Capital by 120.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 17,200 shares of the real estate investment trust’s stock valued at $161,000 after acquiring an additional 9,400 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Resource Capital by 1,093.4% in the third quarter. Public Employees Retirement System of Ohio now owns 17,794 shares of the real estate investment trust’s stock valued at $192,000 after acquiring an additional 16,303 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of Resource Capital by 28.2% in the third quarter. GSA Capital Partners LLP now owns 178,825 shares of the real estate investment trust’s stock valued at $1,928,000 after acquiring an additional 39,300 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Resource Capital by 8.5% in the third quarter. California Public Employees Retirement System now owns 229,244 shares of the real estate investment trust’s stock valued at $2,471,000 after acquiring an additional 17,894 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in Resource Capital by 68.6% in the third quarter. Mackenzie Financial Corp now owns 18,638 shares of the real estate investment trust’s stock valued at $201,000 after buying an additional 7,584 shares in the last quarter. Institutional investors and hedge funds own 50.19% of the company’s stock.
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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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