Robertson Stephens Wealth Management LLC lowered its position in shares of Ready Capital Corp (NYSE:RC - Free Report) by 61.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,900 shares of the real estate investment trust's stock after selling 63,312 shares during the quarter. Robertson Stephens Wealth Management LLC's holdings in Ready Capital were worth $203,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in RC. Charles Schwab Investment Management Inc. raised its position in Ready Capital by 21.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,266,585 shares of the real estate investment trust's stock worth $15,458,000 after acquiring an additional 398,005 shares in the last quarter. Sowell Financial Services LLC grew its stake in shares of Ready Capital by 14.3% during the 1st quarter. Sowell Financial Services LLC now owns 52,763 shares of the real estate investment trust's stock worth $269,000 after purchasing an additional 6,591 shares during the period. Vanguard Group Inc. grew its stake in shares of Ready Capital by 7.3% during the 4th quarter. Vanguard Group Inc. now owns 11,366,828 shares of the real estate investment trust's stock worth $77,522,000 after purchasing an additional 768,891 shares during the period. GraniteShares Advisors LLC purchased a new position in shares of Ready Capital in the 4th quarter valued at about $2,480,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Ready Capital in the fourth quarter valued at about $1,839,000. Hedge funds and other institutional investors own 55.87% of the company's stock.
Ready Capital Price Performance
Ready Capital stock traded up $0.08 during mid-day trading on Monday, hitting $4.51. 1,220,776 shares of the company were exchanged, compared to its average volume of 2,146,711. Ready Capital Corp has a 12-month low of $3.93 and a 12-month high of $9.54. The company has a market capitalization of $769.00 million, a P/E ratio of -2.59 and a beta of 1.47. The business's 50 day simple moving average is $4.38 and its two-hundred day simple moving average is $5.57. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.78 and a quick ratio of 1.78.
Ready Capital (NYSE:RC - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $40.24 million for the quarter, compared to analyst estimates of $212.33 million. Ready Capital had a negative net margin of 34.40% and a positive return on equity of 5.53%. Analysts forecast that Ready Capital Corp will post 0.93 earnings per share for the current fiscal year.
Ready Capital Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 11.09%. The ex-dividend date of this dividend is Monday, June 30th. Ready Capital's dividend payout ratio is presently -28.74%.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Ready Capital from $4.00 to $3.75 and set an "underperform" rating on the stock in a research report on Tuesday, May 13th. Wedbush reissued a "neutral" rating and set a $6.00 price target (down previously from $8.00) on shares of Ready Capital in a research note on Tuesday, March 4th. UBS Group dropped their price objective on Ready Capital from $4.75 to $4.50 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. Finally, Citizens Jmp downgraded Ready Capital from an "outperform" rating to a "market perform" rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $6.96.
Check Out Our Latest Stock Analysis on Ready Capital
About Ready Capital
(
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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