Ready Capital Corp $RC Stock Holdings Lessened by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in Ready Capital Corp by 46.3%, owning approximately $3.3 million worth of shares after selling 557,294 during the first quarter.
• Multiple analysts have issued reduced price targets for Ready Capital, with consensus ratings shifting from "hold" to "sell," and a revised price target set around $5.45.
• The company reported a quarterly earnings miss, with an EPS of ($0.14), and has announced a quarterly dividend of $0.125, yielding 11.6%.

Goldman Sachs Group Inc. lessened its position in Ready Capital Corp (NYSE:RC - Free Report) by 46.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 647,423 shares of the real estate investment trust's stock after selling 557,294 shares during the period. Goldman Sachs Group Inc. owned approximately 0.38% of Ready Capital worth $3,295,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Larson Financial Group LLC acquired a new position in shares of Ready Capital in the 1st quarter worth approximately $27,000. US Bancorp DE raised its position in Ready Capital by 404.7% during the first quarter. US Bancorp DE now owns 6,021 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 4,828 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Ready Capital during the first quarter valued at approximately $32,000. IFP Advisors Inc raised its position in shares of 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 valued at $37,000 after purchasing an additional 6,841 shares during the period. Finally, Bfsg LLC bought a new position in shares of Ready Capital in the first quarter valued at approximately $52,000. Institutional investors and hedge funds own 55.87% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RC shares. Wall Street Zen lowered shares of Ready Capital from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. UBS Group lowered their target price 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. B. Riley lowered their target price 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. 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, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Ready Capital has a consensus rating of "Hold" and a consensus price target of $5.45.

Ready Capital Price Performance

Shares of RC opened at $4.32 on Friday. 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 simple moving average of $4.18 and a 200 day simple moving average of $4.44. Ready Capital Corp has a 52-week low of $3.70 and a 52-week high of $8.41. The firm has a market capitalization of $709.91 million, a PE ratio of -2.34 and a beta of 1.38.

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

Ready Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 11.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Ready Capital's dividend payout ratio is presently -27.03%.

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.

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