Quantbot Technologies LP Buys Shares of 107,125 Ready Capital Corp $RC

Key Points

• Quantbot Technologies LP invested $545,000 in Ready Capital Corp, acquiring 107,125 shares, which represents about 0.06% of the company.
• Ready Capital reported a quarterly loss of ($0.14) EPS, missing analysts' estimates, and a negative net margin of 40.59% during its last earnings release.
• The firm recently declared a quarterly dividend of $0.125 per share, yielding 12.5%, but currently has a dividend payout ratio of -27.03%.

Quantbot Technologies LP bought a new stake in shares of Ready Capital Corp (NYSE:RC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 107,125 shares of the real estate investment trust's stock, valued at approximately $545,000. Quantbot Technologies LP owned approximately 0.06% of Ready Capital at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of RC. Larson Financial Group LLC purchased a new position in Ready Capital during the 1st quarter valued at about $27,000. US Bancorp DE raised its holdings in Ready Capital by 404.7% in the first quarter. US Bancorp DE now owns 6,021 shares of the real estate investment trust's stock worth $31,000 after buying an additional 4,828 shares during the last quarter. IFP Advisors Inc raised its holdings in Ready Capital by 1,410.5% in the first quarter. IFP Advisors Inc now owns 7,326 shares of the real estate investment trust's stock worth $37,000 after buying an additional 6,841 shares during the last quarter. Bfsg LLC purchased a new position in Ready Capital in the first quarter worth about $52,000. Finally, Greenleaf Trust purchased a new position in Ready Capital in the first quarter worth about $55,000. Institutional investors own 55.87% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on RC shares. UBS Group decreased their target price on shares of Ready Capital from $4.50 to $4.00 and set a "neutral" rating for the company in a report on Wednesday, August 20th. Wall Street Zen cut shares of Ready Capital from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. B. Riley decreased their target price on shares of Ready Capital from $6.00 to $4.00 and set a "neutral" rating for the company in a report on Monday, August 11th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Ready Capital from $4.25 to $3.75 and set an "underperform" rating for the company in a report on Tuesday, August 12th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Ready Capital has a consensus rating of "Hold" and an average target price of $5.88.

Ready Capital Stock Performance

Shares of RC traded up $0.04 during mid-day trading on Friday, hitting $4.28. 1,480,654 shares of the company traded hands, compared to its average volume of 2,206,056. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a 50-day moving average price of $4.26 and a two-hundred day moving average price of $4.66. Ready Capital Corp has a 1 year low of $3.70 and a 1 year high of $8.41. The stock has a market cap of $702.99 million, a price-to-earnings ratio of -2.31 and a beta of 1.47.

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

Ready Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 11.7%. The ex-dividend date of this dividend was Monday, June 30th. Ready Capital's dividend payout ratio is currently -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.