Ready Capital Co. (NYSE:RC) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. reduced its position in Ready Capital Co. (NYSE:RC - Free Report) by 23.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,032,851 shares of the real estate investment trust's stock after selling 944,003 shares during the quarter. Balyasny Asset Management L.P. owned about 1.80% of Ready Capital worth $20,684,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Ready Capital by 7.3% in the 4th quarter. Vanguard Group Inc. now owns 11,366,828 shares of the real estate investment trust's stock valued at $77,522,000 after acquiring an additional 768,891 shares during the last quarter. Invesco Ltd. increased its holdings in Ready Capital by 6.8% in the 4th quarter. Invesco Ltd. now owns 3,116,019 shares of the real estate investment trust's stock valued at $21,251,000 after purchasing an additional 197,770 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Ready Capital by 21.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,266,585 shares of the real estate investment trust's stock worth $15,458,000 after acquiring an additional 398,005 shares in the last quarter. Northern Trust Corp increased its stake in shares of Ready Capital by 6.3% during the fourth quarter. Northern Trust Corp now owns 1,833,044 shares of the real estate investment trust's stock worth $12,501,000 after acquiring an additional 108,519 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Ready Capital by 12.8% in the fourth quarter. Van ECK Associates Corp now owns 1,540,765 shares of the real estate investment trust's stock valued at $10,508,000 after purchasing an additional 174,725 shares in the last quarter. 55.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on RC shares. UBS Group reduced their target price on Ready Capital from $5.00 to $4.75 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Citizens Jmp lowered shares of Ready Capital from an "outperform" rating to a "market perform" rating in a research note on Monday, March 3rd. Keefe, Bruyette & Woods reduced their price target on shares of Ready Capital from $6.25 to $4.00 and set an "underperform" rating for the company in a research note on Wednesday, March 5th. Finally, Wedbush restated a "neutral" rating and issued a $6.00 target price (down from $8.00) on shares of Ready Capital in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $7.04.

Ready Capital Trading Up 0.5%

Shares of NYSE:RC traded up $0.02 during mid-day trading on Tuesday, reaching $4.28. 1,080,917 shares of the company's stock were exchanged, compared to its average volume of 2,729,241. The business's fifty day moving average price is $4.71 and its 200-day moving average price is $6.15. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. Ready Capital Co. has a twelve month low of $3.92 and a twelve month high of $9.53. The firm has a market capitalization of $737.38 million, a price-to-earnings ratio of -6.11 and a beta of 1.45.

Ready Capital (NYSE:RC - Get Free Report) last announced its earnings results on Thursday, May 8th. The real estate investment trust reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.21). Ready Capital had a negative net margin of 11.65% and a positive return on equity of 7.53%. The firm had revenue of $40.24 million during the quarter, compared to analysts' expectations of $212.33 million. On average, research analysts predict that Ready Capital Co. will post 0.93 EPS for the current fiscal year.

Ready Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were issued a $0.125 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.50 annualized dividend and a yield of 11.68%. Ready Capital's dividend payout ratio (DPR) is presently -28.74%.

Insiders Place Their Bets

In other Ready Capital news, CEO Thomas E. Capasse purchased 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $4.80 per share, for a total transaction of $48,000.00. Following the purchase, the chief executive officer now directly owns 319,925 shares in the company, valued at $1,535,640. The trade was a 3.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.09% of the company's stock.

Ready Capital Company Profile

Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments.