Graham Capital Management L.P. Acquires 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. grew its stake in Ready Capital Corp (NYSE:RC - Free Report) by 79.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Larson Financial Group LLC bought a new position in Ready Capital during the first quarter worth about $27,000. US Bancorp DE boosted its position in shares of Ready Capital by 404.7% during the 1st quarter. US Bancorp DE now owns 6,021 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 4,828 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Ready Capital during the 1st quarter worth approximately $32,000. IFP Advisors Inc grew its stake 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 in the last quarter. Finally, Bfsg LLC purchased a new position in Ready Capital in the first quarter worth $52,000. Institutional investors own 55.87% of the company's stock.

Ready Capital Price Performance

Ready Capital stock traded up $0.10 during midday trading on Monday, reaching $4.39. 3,508,910 shares of the stock traded hands, compared to its average volume of 2,411,800. The stock's fifty day moving average is $4.24 and its 200-day moving average is $4.56. The stock has a market cap of $720.59 million, a P/E ratio of -2.36 and a beta of 1.38. Ready Capital Corp has a 12 month low of $3.70 and a 12 month high of $8.41. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.76.

Ready Capital (NYSE:RC - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported ($0.14) EPS for the quarter, missing the consensus estimate 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 firm had revenue of ($9.77) million for the quarter, compared to analysts' expectations of $167.26 million. As a group, equities research analysts anticipate that Ready Capital Corp will post 0.93 EPS for the current year.

Ready Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 11.4%. The ex-dividend date of this dividend was Monday, June 30th. Ready Capital's dividend payout ratio (DPR) is currently -27.03%.

Analyst Upgrades and Downgrades

RC has been the topic of several recent 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 research report on Monday, August 11th. Wall Street Zen lowered shares of Ready Capital from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. UBS Group cut their price target 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, Keefe, Bruyette & Woods reduced their price target on shares of Ready Capital from $4.25 to $3.75 and set an "underperform" rating on the stock 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 assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $5.88.

Ready Capital Company 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.