State of Wyoming Takes Position in Ready Capital Co. (NYSE:RC)

State of Wyoming bought a new stake in Ready Capital Co. (NYSE:RC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 160,365 shares of the real estate investment trust's stock, valued at approximately $1,094,000. State of Wyoming owned 0.10% of Ready Capital at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its stake in shares of Ready Capital by 44.3% during the 4th quarter. ProShare Advisors LLC now owns 48,840 shares of the real estate investment trust's stock valued at $333,000 after buying an additional 14,994 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Ready Capital by 5.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,018,413 shares of the real estate investment trust's stock valued at $13,766,000 after acquiring an additional 98,895 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in Ready Capital during the fourth quarter valued at approximately $4,393,000. Graham Capital Management L.P. lifted its holdings in Ready Capital by 271.0% in the fourth quarter. Graham Capital Management L.P. now owns 119,816 shares of the real estate investment trust's stock valued at $817,000 after acquiring an additional 87,523 shares during the period. Finally, Deutsche Bank AG grew its stake in Ready Capital by 50.7% during the 4th quarter. Deutsche Bank AG now owns 134,542 shares of the real estate investment trust's stock valued at $918,000 after acquiring an additional 45,243 shares in the last quarter. Hedge funds and other institutional investors own 55.87% of the company's stock.

Ready Capital Trading Up 1.8%

Shares of NYSE:RC traded up $0.08 during midday trading on Friday, reaching $4.21. The company's stock had a trading volume of 879,627 shares, compared to its average volume of 2,717,297. Ready Capital Co. has a 1 year low of $3.92 and a 1 year high of $9.53. The business has a 50 day moving average price of $4.59 and a 200 day moving average price of $6.02. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The firm has a market cap of $716.98 million, a price-to-earnings ratio of -6.01 and a beta of 1.45.

Ready Capital (NYSE:RC - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.21). Ready Capital had a negative net margin of 11.65% and a positive return on equity of 7.53%. The firm had revenue of $40.24 million during the quarter, compared to analyst estimates of $212.33 million. Research analysts forecast that Ready Capital Co. will post 0.93 EPS for the current year.

Ready Capital Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 11.89%. The ex-dividend date of this dividend was Monday, March 31st. Ready Capital's dividend payout ratio (DPR) is presently -28.74%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RC. Citizens Jmp lowered Ready Capital from an "outperform" rating to a "market perform" rating in a research note on Monday, March 3rd. Keefe, Bruyette & Woods cut 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 note on Tuesday, May 13th. Wedbush restated a "neutral" rating and issued a $6.00 price objective (down from $8.00) on shares of Ready Capital in a report on Tuesday, March 4th. Finally, UBS Group lowered their price objective on Ready Capital from $4.75 to $4.50 and set a "neutral" rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Ready Capital presently has an average rating of "Hold" and a consensus price target of $6.96.

Insider Activity

In related news, CEO Thomas E. Capasse acquired 10,000 shares of Ready Capital stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $4.80 per share, for a total transaction of $48,000.00. Following the purchase, the chief executive officer now directly owns 319,925 shares of the company's stock, valued at $1,535,640. The trade was a 3.23% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company's stock.

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.