OMERS ADMINISTRATION Corp Acquires Shares of 135,900 Ready Capital Corp $RC

Key Points

• OMERS ADMINISTRATION Corp has made a new investment in Ready Capital Corp, purchasing 135,900 shares valued at approximately $692,000 in the first quarter.
• Ready Capital recently reported a quarterly loss of ($0.14) earnings per share, missing analysts' consensus estimates, and had revenue of ($9.77) million.
• The company declared a quarterly dividend of $0.125 per share, representing a yield of 11.7% and an annualized dividend of $0.50.

OMERS ADMINISTRATION Corp bought a new stake in shares of Ready Capital Corp (NYSE:RC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 135,900 shares of the real estate investment trust's stock, valued at approximately $692,000. OMERS ADMINISTRATION Corp owned 0.08% of Ready Capital at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Larson Financial Group LLC acquired a new stake in shares of Ready Capital in the first quarter worth $27,000. US Bancorp DE increased its holdings in Ready Capital by 404.7% in the 1st quarter. US Bancorp DE now owns 6,021 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 4,828 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in Ready Capital in the 1st quarter valued at $32,000. IFP Advisors Inc increased its holdings in Ready Capital by 1,410.5% in the 1st quarter. IFP Advisors Inc now owns 7,326 shares of the real estate investment trust's stock valued at $37,000 after buying an additional 6,841 shares during the period. Finally, Bfsg LLC bought a new stake in shares of Ready Capital in the 1st quarter worth about $52,000. Institutional investors and hedge funds own 55.87% of the company's stock.

Ready Capital Trading Up 1.3%

Shares of NYSE:RC traded up $0.06 during midday trading on Monday, hitting $4.35. 352,514 shares of the stock were exchanged, compared to its average volume of 2,394,439. The business's 50-day moving average price is $4.24 and its 200 day moving average price is $4.56. Ready Capital Corp has a 12 month low of $3.70 and a 12 month high of $8.41. The stock has a market capitalization of $714.01 million, a price-to-earnings ratio of -2.35 and a beta of 1.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.61 and a current ratio of 1.61.

Ready Capital (NYSE:RC - Get Free Report) last posted its quarterly 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). Ready Capital had a positive return on equity of 3.76% and a negative net margin of 40.59%.The business had revenue of ($9.77) million for the quarter, compared to the consensus estimate of $167.26 million. Analysts predict that Ready Capital Corp will post 0.93 earnings per share for the current year.

Ready Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were issued a $0.125 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.50 annualized dividend and a dividend yield of 11.5%. Ready Capital's dividend payout ratio (DPR) is presently -27.03%.

Analyst Upgrades and Downgrades

RC has been the topic of a number of research analyst reports. B. Riley decreased their price objective on shares of Ready Capital from $6.00 to $4.00 and set a "neutral" rating on the stock in a report on Monday, August 11th. Keefe, Bruyette & Woods dropped their target price on shares of Ready Capital from $4.25 to $3.75 and set an "underperform" rating on the stock in a report on Tuesday, August 12th. UBS Group lowered their price objective on shares of Ready Capital from $4.50 to $4.00 and set a "neutral" rating on the stock in a report on Wednesday, August 20th. Finally, Wall Street Zen downgraded shares of Ready Capital from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. One investment 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $5.88.

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.