CWM LLC raised its position in shares of Ready Capital Corp (NYSE:RC - Free Report) by 3,355.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,886 shares of the real estate investment trust's stock after purchasing an additional 104,764 shares during the period. CWM LLC owned approximately 0.06% of Ready Capital worth $549,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Cerity Partners LLC bought a new stake in shares of Ready Capital during the first quarter worth $60,000. Pineridge Advisors LLC bought a new stake in shares of Ready Capital during the first quarter worth $72,000. Nisa Investment Advisors LLC grew its stake in shares of Ready Capital by 9.9% during the first quarter. Nisa Investment Advisors LLC now owns 77,928 shares of the real estate investment trust's stock worth $407,000 after buying an additional 7,042 shares during the last quarter. Greenleaf Trust bought a new stake in shares of Ready Capital during the first quarter worth $55,000. Finally, U.S. Capital Wealth Advisors LLC grew its stake in shares of Ready Capital by 348.7% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 67,311 shares of the real estate investment trust's stock worth $343,000 after buying an additional 52,311 shares during the last quarter. 55.87% of the stock is currently owned by institutional investors and hedge funds.
Ready Capital Stock Up 0.6%
RC stock traded up $0.03 during mid-day trading on Friday, reaching $4.48. 1,197,303 shares of the company traded hands, compared to its average volume of 1,887,106. The stock has a market cap of $763.03 million, a price-to-earnings ratio of -2.57 and a beta of 1.43. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.77. Ready Capital Corp has a fifty-two week low of $3.92 and a fifty-two week high of $9.53. The firm's 50 day moving average price is $4.41 and its 200 day moving average price is $5.13.
Ready Capital (NYSE:RC - Get Free Report) last posted its quarterly earnings results 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). Ready Capital had a positive return on equity of 5.53% and a negative net margin of 34.40%. The company had revenue of $40.24 million during the quarter, compared to the consensus estimate of $212.33 million. As a group, equities research analysts predict that Ready Capital Corp will post 0.93 EPS for the current fiscal year.
Ready Capital Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.125 per share. The ex-dividend date is Monday, June 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 11.17%. Ready Capital's dividend payout ratio (DPR) is currently -28.74%.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on RC. Keefe, Bruyette & Woods boosted their target price on shares of Ready Capital from $3.75 to $4.25 and gave the stock an "underperform" rating in a research note on Thursday, July 10th. UBS Group decreased their target price on shares of Ready Capital from $4.75 to $4.50 and set a "neutral" rating on the stock in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Ready Capital has an average rating of "Hold" and an average target price of $7.04.
Check Out Our Latest Stock Analysis on Ready Capital
Ready Capital Company 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.
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