UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Ready Capital Co. (NYSE:RC - Free Report) by 19.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 432,540 shares of the real estate investment trust's stock after acquiring an additional 70,314 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.26% of Ready Capital worth $2,950,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RC. Vanguard Group Inc. raised its holdings in shares of Ready Capital by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 11,366,828 shares of the real estate investment trust's stock worth $77,522,000 after buying an additional 768,891 shares during the period. Invesco Ltd. lifted its position in shares of Ready Capital by 6.8% during the fourth quarter. Invesco Ltd. now owns 3,116,019 shares of the real estate investment trust's stock worth $21,251,000 after purchasing an additional 197,770 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 valued at $15,458,000 after purchasing an additional 398,005 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Ready Capital by 5.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,018,413 shares of the real estate investment trust's stock worth $13,766,000 after purchasing an additional 98,895 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Ready Capital by 6.3% in the 4th quarter. Northern Trust Corp now owns 1,833,044 shares of the real estate investment trust's stock worth $12,501,000 after buying an additional 108,519 shares during the period. 55.87% of the stock is currently owned by hedge funds and other institutional investors.
Ready Capital Stock Up 2.2%
NYSE RC traded up $0.10 during midday trading on Monday, hitting $4.41. 1,144,757 shares of the company traded hands, compared to its average volume of 2,141,302. Ready Capital Co. has a 52 week low of $3.93 and a 52 week high of $9.54. The company's 50-day simple moving average is $4.42 and its 200-day simple moving average is $5.79. The company has a market cap of $751.08 million, a PE ratio of -6.29 and a beta of 1.47. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67.
Ready Capital (NYSE:RC - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported ($0.09) earnings per share 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 the consensus estimate of $212.33 million. Ready Capital had a negative net margin of 11.65% and a positive return on equity of 7.53%. As a group, equities research analysts forecast that Ready Capital Co. will post 0.93 earnings per share for the current year.
Analysts Set New Price Targets
A number of brokerages have commented on RC. UBS Group dropped 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. Citizens Jmp downgraded Ready Capital from an "outperform" rating to a "market perform" rating in a report on Monday, March 3rd. Keefe, Bruyette & Woods lowered their target price on Ready Capital from $4.00 to $3.75 and set an "underperform" rating for the company in a report on Tuesday, May 13th. Finally, Wedbush restated 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Ready Capital has a consensus rating of "Hold" and an average target price of $6.96.
Read Our Latest Research Report on Ready Capital
Ready Capital 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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