Robertson Stephens Wealth Management LLC lessened its holdings in shares of Ready Capital Corp (NYSE:RC - Free Report) by 61.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,900 shares of the real estate investment trust's stock after selling 63,312 shares during the period. Robertson Stephens Wealth Management LLC's holdings in Ready Capital were worth $203,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings 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 last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of Ready Capital in the fourth quarter valued at approximately $4,393,000. Charles Schwab Investment Management Inc. lifted its position in Ready Capital by 21.3% during 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 buying an additional 398,005 shares in the last quarter. Marshall Wace LLP boosted its stake in Ready Capital by 3,049.5% during the fourth quarter. Marshall Wace LLP now owns 392,559 shares of the real estate investment trust's stock worth $2,677,000 after buying an additional 380,095 shares during the last quarter. Finally, GraniteShares Advisors LLC purchased a new stake in Ready Capital in the 4th quarter valued at $2,480,000. Hedge funds and other institutional investors own 55.87% of the company's stock.
Ready Capital Stock Performance
NYSE RC opened at $4.50 on Friday. The stock has a fifty day simple moving average of $4.37 and a 200-day simple moving average of $5.63. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.77. The stock has a market cap of $766.44 million, a PE ratio of -2.58 and a beta of 1.47. Ready Capital Corp has a twelve month low of $3.93 and a twelve month high of $9.54.
Ready Capital (NYSE:RC - Get Free Report) last posted its 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 negative net margin of 34.40% and a positive return on equity of 5.53%. The company had revenue of $40.24 million during the quarter, compared to analyst estimates of $212.33 million. Equities analysts anticipate that Ready Capital Corp will post 0.93 earnings per share for the current year.
Ready Capital Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 11.12%. The ex-dividend date of this dividend is Monday, June 30th. Ready Capital's payout ratio is -28.74%.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Citizens Jmp lowered Ready Capital from an "outperform" rating to a "market perform" rating in a report on Monday, March 3rd. Wedbush restated a "neutral" rating and set a $6.00 price objective (down from $8.00) on shares of Ready Capital in a research report on Tuesday, March 4th. UBS Group reduced 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. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Ready Capital from $4.00 to $3.75 and set an "underperform" rating for the company in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $6.96.
Check Out Our Latest Stock Analysis on RC
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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