In trading on Friday, shares of Resource Capital Corp's 8.50% Series A Cumulative Redeemable Preferred Stock (RSO.PRA) were yielding above the 9% mark based on its quarterly dividend (annualized to $2.125), with shares changing hands as low as $23.40 on the day. This compares to an average yield of 7.68% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, RSO.PRA was trading at a 5.40% discount to its liquidation preference amount, versus the average discount of 5.16% in the "Real Estate" category.
Resource Capital's Series A Preferred Stock Crosses Above 9% Yield Territory
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