California Public Employees Retirement System Has $2.47 Million Holdings in Resource Capital Corp. (RSO)
California Public Employees Retirement System increased its position in Resource Capital Corp. (NYSE:RSO) by 8.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 229,244 shares of the real estate investment trust’s stock after purchasing an additional 17,894 shares during the quarter. California Public Employees Retirement System’s holdings in Resource Capital were worth $2,471,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of RSO. Silver Capital Management LLC bought a new stake in shares of Resource Capital in the 3rd quarter valued at about $119,000. Menta Capital LLC bought a new stake in shares of Resource Capital in the 2nd quarter valued at about $147,000. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Resource Capital in the 3rd quarter valued at about $189,000. Mackenzie Financial Corp raised its holdings in shares of Resource Capital by 68.6% in the 3rd quarter. Mackenzie Financial Corp now owns 18,638 shares of the real estate investment trust’s stock valued at $201,000 after purchasing an additional 7,584 shares during the period. Finally, Voya Investment Management LLC raised its holdings in shares of Resource Capital by 10.6% in the 2nd quarter. Voya Investment Management LLC now owns 22,835 shares of the real estate investment trust’s stock valued at $232,000 after purchasing an additional 2,193 shares during the period. 50.19% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Resource Capital from a “buy” rating to a “hold” rating in a report on Saturday, September 23rd. B. Riley reaffirmed a “neutral” rating on shares of Resource Capital in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $11.75.
Resource Capital (NYSE:RSO) last issued its earnings results on Wednesday, November 1st. 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). The firm had revenue of $10.30 million during 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 for the quarter was down 28.0% on a year-over-year basis. analysts predict that Resource Capital Corp. will post -0.71 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, December 29th will be issued a $0.05 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.07%. Resource Capital’s payout ratio is 16.13%.
In related news, Director William B. Hart purchased 3,000 shares of the 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 filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders acquired 10,805 shares of company stock worth $104,798. Insiders own 4.82% 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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