Centiva Capital LP Acquires New Holdings in Ready Capital Co. (NYSE:RC)

Centiva Capital LP acquired a new position in Ready Capital Co. (NYSE:RC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 140,336 shares of the real estate investment trust's stock, valued at approximately $957,000. Centiva Capital LP owned approximately 0.08% of Ready Capital at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Shorepoint Capital Partners LLC grew its position in Ready Capital by 2.4% during the fourth quarter. Shorepoint Capital Partners LLC now owns 64,500 shares of the real estate investment trust's stock valued at $440,000 after acquiring an additional 1,500 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Ready Capital by 3.6% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 44,038 shares of the real estate investment trust's stock valued at $300,000 after purchasing an additional 1,543 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Ready Capital by 18.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,193 shares of the real estate investment trust's stock worth $104,000 after purchasing an additional 2,328 shares during the period. HighTower Advisors LLC lifted its stake in Ready Capital by 3.9% in the fourth quarter. HighTower Advisors LLC now owns 76,803 shares of the real estate investment trust's stock worth $524,000 after purchasing an additional 2,917 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its position in Ready Capital by 822.8% during the fourth quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 4,616 shares during the period. 55.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ready Capital

In related news, CEO Thomas E. Capasse purchased 10,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price 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 of the company's stock, valued at approximately $1,535,640. This represents a 3.23 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.09% of the company's stock.

Ready Capital Trading Down 5.7 %

NYSE RC traded down $0.25 during trading on Friday, hitting $4.13. The company had a trading volume of 5,746,991 shares, compared to its average volume of 2,052,478. The company's fifty day moving average is $4.72 and its 200-day moving average is $6.18. The company has a market cap of $711.54 million, a price-to-earnings ratio of -5.90 and a beta of 1.45. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54. Ready Capital Co. has a one year low of $3.93 and a one year high of $9.54.

Ready Capital (NYSE:RC - Get Free Report) last issued its quarterly earnings data 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 positive return on equity of 7.53% and a negative net margin of 11.65%. The company had revenue of $40.24 million during the quarter, compared to analysts' expectations of $212.33 million. On average, sell-side analysts predict that Ready Capital Co. will post 0.93 earnings per share for the current year.

Ready Capital Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were paid a $0.125 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.50 annualized dividend and a yield of 12.11%. Ready Capital's payout ratio is -18.94%.

Wall Street Analyst Weigh In

RC has been the topic of several analyst reports. Wedbush reiterated a "neutral" rating and issued a $6.00 price objective (down previously from $8.00) on shares of Ready Capital in a report on Tuesday, March 4th. UBS Group decreased their price target on Ready Capital from $5.00 to $4.75 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Citizens Jmp lowered Ready Capital from an "outperform" rating to a "market perform" rating in a research note on Monday, March 3rd. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Ready Capital from $6.25 to $4.00 and set an "underperform" rating on the stock in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $7.04.

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.