XTX Topco Ltd Purchases 82,344 Shares of Ready Capital Corp (NYSE:RC)

XTX Topco Ltd raised its holdings in shares of Ready Capital Corp (NYSE:RC - Free Report) by 341.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,489 shares of the real estate investment trust's stock after purchasing an additional 82,344 shares during the quarter. XTX Topco Ltd owned approximately 0.06% of Ready Capital worth $542,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in RC. Vanguard Group Inc. lifted its holdings in shares of Ready Capital by 7.3% during 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 in the last quarter. Invesco Ltd. raised its stake in Ready Capital by 6.8% in the fourth quarter. Invesco Ltd. now owns 3,116,019 shares of the real estate investment trust's stock valued at $21,251,000 after purchasing an additional 197,770 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in 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 valued at $13,766,000 after purchasing an additional 98,895 shares in the last quarter. Northern Trust Corp raised its stake in Ready Capital by 6.3% in the fourth quarter. Northern Trust Corp now owns 1,833,044 shares of the real estate investment trust's stock valued at $12,501,000 after purchasing an additional 108,519 shares in the last quarter. Finally, Private Management Group Inc. acquired a new position in Ready Capital in the first quarter valued at about $8,235,000. Institutional investors and hedge funds own 55.87% of the company's stock.

Ready Capital Stock Down 3.8%

NYSE RC traded down $0.16 on Friday, reaching $4.07. The company had a trading volume of 2,424,484 shares, compared to its average volume of 1,770,929. The stock has a market capitalization of $693.96 million, a P/E ratio of -2.20 and a beta of 1.47. The company's fifty day moving average is $4.39 and its 200 day moving average is $4.95. Ready Capital Corp has a 52-week low of $3.92 and a 52-week high of $8.88. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.77.

Ready Capital (NYSE:RC - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.13). The company had revenue of ($9.77) million during the quarter, compared to analysts' expectations of $167.26 million. Ready Capital had a negative net margin of 40.59% and a positive return on equity of 3.68%. Sell-side analysts anticipate that Ready Capital Corp will post 0.93 earnings per share for the current fiscal year.

Ready Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 12.3%. The ex-dividend date of this dividend was Monday, June 30th. Ready Capital's payout ratio is -27.03%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RC. Keefe, Bruyette & Woods boosted their target price on Ready Capital from $3.75 to $4.25 and gave the stock an "underperform" rating in a research note on Thursday, July 10th. UBS Group reduced their price target on Ready Capital from $4.75 to $4.50 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $7.04.

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.