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Video: What is a Stock Split?


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Resource America is an asset management company that evaluate, originate, service and manage investment opportunities through its real estate, financial fund management and commercial finance subsidiaries as well as its joint ventures. As an asset manager, Co. seeks to develop investment funds for outside investors for which it provides asset management services, typically under long-term management arrangements. Co. limits its fund development and management services to asset classes where Co. owns existing operating companies or have specific capabilities. As of Dec 31 2015, Co. had $21.7 billion of assets under management. According to our REXI split history records, REXI has had 3 splits.
REXI split history picture
REXI (REXI) has 3 splits in our REXI split history database. The first split for REXI took place on August 12, 1992. This was a 1 for 10 reverse split, meaning for each 10 shares of REXI owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 100 share position following the split. REXI's second split took place on June 03, 1996. This was a 5 for 2 split, meaning for each 2 shares of REXI owned pre-split, the shareholder now owned 5 shares. For example, a 100 share position pre-split, became a 250 share position following the split. REXI's third split took place on June 08, 1998. This was a 3 for 1 split, meaning for each share of REXI owned pre-split, the shareholder now owned 3 shares. For example, a 250 share position pre-split, became a 750 share position following the split.

When a company such as REXI splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business. When a company such as REXI conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.

Looking at the REXI split history from start to finish, an original position size of 1000 shares would have turned into 750 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into REXI shares, starting with a $10,000 purchase of REXI, presented on a split-history-adjusted basis factoring in the complete REXI split history. REXI split adjusted history picture

Growth of $10,000.00
With Dividends Reinvested

Start date: 10/29/2010
End date: 09/08/2016
Start price/share: $6.15
End price/share: $9.78
Starting shares: 1,626.02
Ending shares: 1,899.40
Dividends reinvested/share: $1.15
Total return: 85.76%
Average Annual Total Return: 11.14%
Starting investment: $10,000.00
Ending investment: $18,580.80
Years: 5.87
 
Growth of $10,000.00
Without Dividends Reinvested

Start date: 10/29/2010
End date: 09/08/2016
Start price/share: $6.15
End price/share: $9.78
Dividends collected/share: $1.15
Total return: 77.72%
Average Annual Total Return: 10.30%
Starting investment: $10,000.00
Ending investment: $17,772.05
Years: 5.87
Date Ratio
08/12/19921 for 10
06/03/19965 for 2
06/08/19983 for 1
REXI is categorized under the Financials sector; below are some other companies in the same sector that also have a history of stock splits:

RF Split History
RGA Split History
RIF Split History
RILY Split History
RIN Split History
RING Split History
RIV Split History
RIVR Split History
RJF Split History
RJI Split History

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