Deutsche Bank Starts Resource Capital Corp (RSO) at Hold

Deutsche Bank initiates coverage on Resource Capital Corp (NYSE: RSO) with a Hold. PT $6.50.

The firm comments, "We expect RSO's portfolio of primarily CRE debt investments, bank loans, and CMBS to post low-teen ROEs excluding gains in 2013, and we expect new investments to drive earnings growth. Our target of $6.50 per share is based on shares trading at a 20% premium to book value. While we expect the portfolio to generate attractive ROEs next year, we are initiating with a Hold rating given the current valuation relative to our target."

For an analyst ratings summary and ratings history on Resource Capital Corp click here. For more ratings news on Resource Capital Corp click here.

Shares of Resource Capital Corp closed at $5.89 yesterday.

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