Ken, unfortunately things have changed with Britain and the EU. Just when RSO was really showing promise again. Even I was impressed. Imagine that. Will be a great day for buyers of RSO today. GL
bill is crying over the 50% he lost there after bailing here for a 30% loss. talk about being reamed
3941, Haha... "Convuluted"
I am disappointed that you didn't give me a nice "welcome back" here. Yet, you want to know my thoughts. You shouldn't be so selfish.
sherwin, never mind that Ken lives in CA and that I live in OR.
No-one understands your convuluted/discombobulated logic.
Now, please tell us what your thoughts are concerning seedsbill..
why is he hiding out in WMC?
I used to visit Santa Barbara in the 80s & 90s for my job.
If you were like Fred Kane, your ID on here would have been "KenPalley567"
Well Kirby you madman looks like you might finally be correct. At any event I am glad I didn't bail at $10.50 as had been urged by some posters. $15, hmm, could be although IMHO it will take at least 1 or 2 more quarters with good earnings and no dividend cut. GLL
NYSEFri, Jun 17, 2016 4:02 PM EDT
NEW YORK, NY--(Marketwired - Jun 16, 2016) - Resource Capital Corp. (NYSE: RSO) (the "Company") announced today that its Board of Directors has declared a cash dividend of $0.42 per common share for the quarter ending June 30, 2016. The dividend will be paid on July 28, 2016 to holders of record on June 30, 2016
As we have stated previously, we have been committed to repurchasing our security. Since the inception of our buyback program through the end of the first quarter, we have repurchased almost $37 million of our security.
The company repurchased over $33 million of its common stock, which represents approximately 8% outstanding common shares. We have also bought back approximately 3.5% of our outstanding Preferred B shares
We are reiterating our guidance of at least $2.65 per share of AFFO and at least $1.50 per share of GAAP net income
Economic book value was 17.73
Enjoy your dividend as we have earned it
ken, not sure if it will take 2Q of .42. Key, IMO, is the profitability of PCM in this Q earnings release. If RSO can show dividend is easily sustainable with earnings, we head to $14. Also with a Cohen not running the company, RSO may attract new investors. Earnings not till early Aug, so we have a while. Of course, JMO.
Short term RSO share price (as well as a few other REITs I own) seem to be heavily influenced by swings in crude oil. 0.42 divi was already baked in IMO.
Finally share price has taken off this morning. Amazing how slow the market can be to recognize good value. I am NOT saying that RSO is a good value, not yet. But this latest dividend is most def a step in the right direction. IMHO it will take 2 more consecutive dividends of at least $.42 and two decent earnings reports to get us up to around $16 or $17 where the yield would be 10% or slightly lower. That is a yield that seems believable and sustainable to a broad swath of investors and at that point the shares could take off. So we have the rest of this year and the first quarter of next year to really see if the turnaround is real. Patience. GLL
Since they are under new management, you never know how they will proceed. Glad the dividend was maintained at .42. Should remove any fear and possibly run back to $13 by x/date.
It would have been pretty bad if they had cut the dividend. Pretty much what and when I had expected. I doubt this will move the needle very much but it can't hurt. GLL
Board of Directors has declared a cash dividend of $0.42 per common share for the quarter ending June 30, 2016. The dividend will be paid on July 28, 2016 to holders of record on June 30, 2016.
Kirby, Appreciate your unrelenting positive views but keep in mind that if the dividend were cut in half and the share price fell by 50% it would still be a 13% yield. The share price and the dividend have been falling for years in tandem so we are barely keeping up with inflation if at all. I am hoping against hope that the announcement comes soon and there is no cut. GLL
The Fed on Wednesday did not make much change in its message and it emphasized it will still hike rates, but now seemingly more slowly. The message of a slower-moving Fed was clear in the so-called "dot plot," a chart with dots on a timeline representing each Fed official's interview. The Fed did retain its forecast for two rates this year, but the dots revealed that six members want to see one hike this year, up from one in March.
Seeds, you only think that you've made sane point(s), but you're a truly insane basher. Please get some professional help, look under counselors in your area. You'll thank me someday for this advice.
Went too far too fast so folks are taking profits. Everything depends on next few days. I think we may get a declaration tomorrow or Friday of $.42, next week at the latest. I think that will stabilize things. I do not see significant upward price movement unless and until we see and actual increase in the dividend, and I do not expect that any time soon. Of course if the dividend is cut we go to $8 or less. GLL