Invesco Ltd. Has $18.42 Million Holdings in Ready Capital Corp $RC

Key Points

• Invesco Ltd. increased its stake in Ready Capital Corp by 16.1%, owning approximately 3.6 million shares valued at $18.4 million as of the latest SEC filing.
• Ready Capital's quarterly earnings report showed a significant miss with an EPS of ($0.14), compared to analysts' expectations of ($0.01), resulting in a negative net margin of 40.59%.
• The company announced a quarterly dividend of $0.125, offering investors an annualized yield of 13.5%, despite a payout ratio of -27.03%.

Invesco Ltd. grew its holdings in shares of Ready Capital Corp (NYSE:RC - Free Report) by 16.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,618,181 shares of the real estate investment trust's stock after acquiring an additional 502,162 shares during the quarter. Invesco Ltd. owned about 2.10% of Ready Capital worth $18,417,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Ready Capital by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 11,450,959 shares of the real estate investment trust's stock worth $58,285,000 after acquiring an additional 84,131 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Ready Capital by 0.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,276,719 shares of the real estate investment trust's stock worth $11,588,000 after buying an additional 10,134 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Ready Capital by 5.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,018,413 shares of the real estate investment trust's stock worth $13,766,000 after buying an additional 98,895 shares in the last quarter. Northern Trust Corp raised its stake in shares of Ready Capital by 6.3% in the 4th quarter. Northern Trust Corp now owns 1,833,044 shares of the real estate investment trust's stock worth $12,501,000 after buying an additional 108,519 shares in the last quarter. Finally, Private Management Group Inc. bought a new stake in shares of Ready Capital in the 1st quarter worth $8,235,000. Institutional investors and hedge funds own 55.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RC shares. Keefe, Bruyette & Woods dropped their price objective on Ready Capital from $4.25 to $3.75 and set an "underperform" rating on the stock in a research note on Tuesday, August 12th. UBS Group dropped their price objective on Ready Capital from $4.50 to $4.00 and set a "neutral" rating on the stock in a research note on Wednesday. B. Riley dropped their price objective on Ready Capital from $6.00 to $4.00 and set a "neutral" rating on the stock in a research note on Monday, August 11th. Finally, Wall Street Zen downgraded Ready Capital from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ready Capital has an average rating of "Hold" and an average target price of $5.88.

Ready Capital Trading Up 7.9%

Shares of Ready Capital stock traded up $0.2940 on Friday, reaching $4.0040. 3,798,214 shares of the company were exchanged, compared to its average volume of 1,997,119. The stock has a fifty day moving average price of $4.29 and a 200-day moving average price of $4.73. The firm has a market capitalization of $657.98 million, a price-to-earnings ratio of -2.16 and a beta of 1.47. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.76. Ready Capital Corp has a fifty-two week low of $3.70 and a fifty-two week high of $8.64.

Ready Capital (NYSE:RC - Get Free Report) last announced its earnings results on Thursday, August 7th. The real estate investment trust reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.13). The company had revenue of ($9.77) million for the quarter, compared to analyst estimates of $167.26 million. Ready Capital had a positive return on equity of 3.76% and a negative net margin of 40.59%. On average, analysts expect that Ready Capital Corp will post 0.93 EPS for the current year.

Ready Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 12.5%. The ex-dividend date of this dividend was Monday, June 30th. Ready Capital's payout ratio is presently -27.03%.

Ready Capital 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.