I have owned both RAS and RSO. I sold all of my RAS, (except the preferred), several years ago because I have a hard time "trusting" the management. Jonathan Cohen on the other hand has, IMO, treated the shareholder well. RSO is my largest position for a reason although I also own plenty of NRF and NCT. (I also own a "ton" of SFI preferred that I have been buying since the shares were selling for $3.75). I am an income investor and believe that RSO offers a dependable dividend going forward and although I would like to see the share price increase above where it is now, it is the dividend that for me really matters. I am not surprised to see the .20 dividend again this quarter, but do expect an increase to at least 22.5 a quarter next year.
I own both. RAS has higher earnings; .31 AFFO vs .26 AFFO; they also have huge losses from past so divs are actually distributions thus tax free. Div is only .10, but growing steadily. RAS still has some problems, but seem to be working their way to stable growth. Yes they do secondarys; what reit doesn't? I own both and believe both are undervalued compared to NCT and NRF. Both lean toward commercial investments which should do well as/if we recover; they are not as dependent on interest rates as agency reits are.
Its all relative...and in this case..not even a good comparison. RAS had a reverse 3:1 split several years back and it has yet to recover to that pre split price...and n typical RAS fashion..they annnounce some good news which is followed immediately with more common being offered which will erase all of the pop from the good news. I've had some RAS for a long time...they are poor on communication and generally vague and elusive on whats happening there while RSO is prettty open. Hard to measure trust but i trust RSO and don't trust RAS. But thats just me.