LexAurum Advisors LLC Invests $300,000 in Ready Capital Co. (NYSE:RC)

LexAurum Advisors LLC purchased a new stake in shares of Ready Capital Co. (NYSE:RC - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 58,879 shares of the real estate investment trust's stock, valued at approximately $300,000.

Several other hedge funds have also bought and sold shares of RC. Barclays PLC increased its holdings in shares of Ready Capital by 205.9% during the third quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust's stock valued at $3,699,000 after acquiring an additional 326,467 shares in the last quarter. Entropy Technologies LP purchased a new stake in Ready Capital during the 4th quarter valued at about $142,000. Avion Wealth bought a new stake in Ready Capital during the 4th quarter valued at about $47,000. Van ECK Associates Corp increased its stake in Ready Capital by 12.8% during the 4th 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. Finally, Arcus Capital Partners LLC increased its stake in Ready Capital by 233.8% during the 4th quarter. Arcus Capital Partners LLC now owns 59,884 shares of the real estate investment trust's stock valued at $408,000 after purchasing an additional 41,944 shares in the last quarter. Institutional investors own 55.87% of the company's stock.

Ready Capital Stock Performance

RC traded down $0.05 during mid-day trading on Thursday, reaching $4.47. 1,443,749 shares of the company traded hands, compared to its average volume of 2,137,893. The company's fifty day moving average price is $4.40 and its 200-day moving average price is $5.75. The stock has a market capitalization of $762.17 million, a P/E ratio of -6.39 and a beta of 1.47. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. Ready Capital Co. has a 52-week low of $3.93 and a 52-week high of $9.54.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RC shares. Keefe, Bruyette & Woods reduced their price target on shares of Ready Capital from $4.00 to $3.75 and set an "underperform" rating for the company in a research report on Tuesday, May 13th. UBS Group reduced their target price on Ready Capital from $4.75 to $4.50 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Citizens Jmp downgraded Ready Capital from an "outperform" rating to a "market perform" rating in a report on Monday, March 3rd. Finally, Wedbush reiterated a "neutral" rating and issued a $6.00 price objective (down from $8.00) on shares of Ready Capital in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $6.96.

About Ready Capital

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.