Graham Capital Management L.P. Buys 95,087 Shares of Ready Capital Corp $RC

Key Points

• Graham Capital Management L.P. increased its holdings in Ready Capital Corp by 79.4% during the first quarter, acquiring an additional 95,087 shares, bringing their total to 214,903 shares.
• Ready Capital recently reported a quarterly earnings per share (EPS) of ($0.14), falling short of expectations by ($0.13), with revenue significantly below analysts’ estimates at ($9.77 million).
• The company announced a quarterly dividend of $0.125 per share, resulting in an annualized yield of 11.8%, despite a negative dividend payout ratio of -27.03%.

Graham Capital Management L.P. increased its position in Ready Capital Corp (NYSE:RC - Free Report) by 79.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 214,903 shares of the real estate investment trust's stock after acquiring an additional 95,087 shares during the quarter. Graham Capital Management L.P. owned about 0.12% of Ready Capital worth $1,094,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Private Management Group Inc. bought a new stake in shares of Ready Capital in the 1st quarter worth approximately $8,235,000. Hudson Bay Capital Management LP bought a new position in Ready Capital in the fourth quarter valued at about $4,393,000. Invesco Ltd. raised its stake in shares of Ready Capital by 16.1% in the first quarter. Invesco Ltd. now owns 3,618,181 shares of the real estate investment trust's stock worth $18,417,000 after buying an additional 502,162 shares during the period. Wolverine Asset Management LLC grew its position in shares of Ready Capital by 152.5% during the first quarter. Wolverine Asset Management LLC now owns 555,556 shares of the real estate investment trust's stock worth $2,828,000 after purchasing an additional 335,502 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Ready Capital in the 1st quarter worth approximately $1,574,000. Institutional investors own 55.87% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on RC. B. Riley dropped their price objective on Ready Capital from $6.00 to $4.00 and set a "neutral" rating for the company in a report on Monday, August 11th. UBS Group reduced their price target on 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 Ready Capital from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, Keefe, Bruyette & Woods lowered their price objective on Ready Capital from $4.25 to $3.75 and set an "underperform" rating for the company in a research 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 company. According to MarketBeat, Ready Capital currently has a consensus rating of "Hold" and an average target price of $5.88.

Ready Capital Stock Up 0.6%

NYSE RC traded up $0.03 during trading hours on Tuesday, hitting $4.41. The company had a trading volume of 1,324,846 shares, compared to its average volume of 2,409,215. The firm's 50 day moving average is $4.24 and its 200 day moving average is $4.54. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.61 and a quick ratio of 1.61. The company has a market capitalization of $723.87 million, a price-to-earnings ratio of -2.38 and a beta of 1.38. Ready Capital Corp has a fifty-two week low of $3.70 and a fifty-two week high of $8.41.

Ready Capital (NYSE:RC - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported ($0.14) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of ($9.77) million during the quarter, compared to analysts' expectations of $167.26 million. Sell-side analysts anticipate that Ready Capital Corp will post 0.93 earnings per share for the current fiscal year.

Ready Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were given a dividend of $0.125 per share. The ex-dividend date was Monday, June 30th. This represents a $0.50 annualized dividend and a dividend yield of 11.4%. Ready Capital's dividend payout ratio (DPR) is -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.