Bank of New York Mellon Corp boosted its holdings in shares of Ready Capital Corp (NYSE:RC - Free Report) by 14.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,338,493 shares of the real estate investment trust's stock after buying an additional 172,197 shares during the period. Bank of New York Mellon Corp owned about 0.78% of Ready Capital worth $6,813,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Shorepoint Capital Partners LLC boosted its stake in shares of Ready Capital by 2.4% in the 4th quarter. Shorepoint Capital Partners LLC now owns 64,500 shares of the real estate investment trust's stock valued at $440,000 after purchasing an additional 1,500 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of 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 valued at $104,000 after purchasing an additional 2,328 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Ready Capital by 3.9% in the 4th quarter. HighTower Advisors LLC now owns 76,803 shares of the real estate investment trust's stock valued at $524,000 after purchasing an additional 2,917 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Ready Capital by 4.6% in the 1st quarter. Spire Wealth Management now owns 95,283 shares of the real estate investment trust's stock valued at $485,000 after purchasing an additional 4,157 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in Ready Capital by 11.7% during the 4th quarter. Squarepoint Ops LLC now owns 42,964 shares of the real estate investment trust's stock worth $293,000 after buying an additional 4,486 shares in the last quarter. Institutional investors and hedge funds own 55.87% of the company's stock.
Ready Capital Trading Up 0.6%
Shares of NYSE:RC traded up $0.03 during midday trading on Friday, hitting $4.48. 1,197,303 shares of the stock were exchanged, compared to its average volume of 1,887,106. The stock has a market capitalization of $763.03 million, a price-to-earnings ratio of -2.57 and a beta of 1.43. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.78 and a current ratio of 1.78. The business's 50-day moving average price is $4.41 and its 200 day moving average price is $5.13. Ready Capital Corp has a 12 month low of $3.92 and a 12 month high of $9.53.
Ready Capital (NYSE:RC - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.21). Ready Capital had a positive return on equity of 5.53% and a negative net margin of 34.40%. The firm had revenue of $40.24 million for the quarter, compared to the consensus estimate of $212.33 million. Analysts predict that Ready Capital Corp will post 0.93 earnings per share for the current year.
Ready Capital Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 11.17%. The ex-dividend date is Monday, June 30th. Ready Capital's payout ratio is -28.74%.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Keefe, Bruyette & Woods upped their price target on Ready Capital from $3.75 to $4.25 and gave the company an "underperform" rating in a research note on Thursday, July 10th. UBS Group lowered their price target on Ready Capital from $4.75 to $4.50 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $7.04.
Read Our Latest Research Report on RC
About Ready Capital
(
Free Report)
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.
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