LexAurum Advisors LLC purchased a new position in shares of Ready Capital Co. (NYSE:RC - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 58,879 shares of the real estate investment trust's stock, valued at approximately $300,000.
Other large investors also recently made changes to their positions in the company. Sterling Capital Management LLC boosted its position in shares of Ready Capital by 822.8% in 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 acquiring an additional 4,616 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Ready Capital by 3,075.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust's stock valued at $43,000 after purchasing an additional 6,150 shares during the period. Avion Wealth acquired a new stake in Ready Capital in the 4th quarter worth $47,000. Ausdal Financial Partners Inc. acquired a new position in shares of Ready Capital during the fourth quarter valued at about $68,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Ready Capital during the 4th quarter worth approximately $69,000. Institutional investors own 55.87% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on RC. Citizens Jmp cut shares of Ready Capital from an "outperform" rating to a "market perform" rating in a research note on Monday, March 3rd. Wedbush reiterated a "neutral" rating and issued a $6.00 price objective (down from $8.00) on shares of Ready Capital in a research note on Tuesday, March 4th. UBS Group cut their target price on Ready Capital from $4.75 to $4.50 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods decreased their price target on Ready Capital from $4.00 to $3.75 and set an "underperform" rating on the stock in a research note on Tuesday, May 13th. One 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $6.96.
Get Our Latest Report on RC
Ready Capital Stock Up 2.5%
Shares of RC opened at $4.31 on Monday. The company has a market capitalization of $734.03 million, a P/E ratio of -6.15 and a beta of 1.47. Ready Capital Co. has a one year low of $3.93 and a one year high of $9.54. The business's 50 day simple moving average is $4.42 and its 200-day simple moving average is $5.79. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67.
Ready Capital (NYSE:RC - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.21). The business had revenue of $40.24 million during the quarter, compared to analyst estimates of $212.33 million. Ready Capital had a positive return on equity of 7.53% and a negative net margin of 11.65%. As a group, sell-side analysts predict that Ready Capital Co. will post 0.93 EPS for the current fiscal year.
Ready Capital Profile
(
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.
See Also
Want to see what other hedge funds are holding RC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ready Capital Co. (NYSE:RC - Free Report).
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