Y Intercept Hong Kong Ltd Purchases Shares of 63,864 Ready Capital Corp (NYSE:RC)

Key Points

• Y Intercept Hong Kong Ltd has acquired a new position in Ready Capital Corp, purchasing 63,864 shares valued at approximately $325,000.
• Ready Capital recently announced a quarterly dividend of $0.125 per share, which translates to an annualized yield of 11.15%.
• Analysts have varied perspectives on Ready Capital's stock, with a consensus rating of "Hold" and an average target price of $7.04.

Y Intercept Hong Kong Ltd acquired a new position in shares of Ready Capital Corp (NYSE:RC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 63,864 shares of the real estate investment trust's stock, valued at approximately $325,000.

Several other hedge funds have also recently bought and sold shares of RC. Larson Financial Group LLC acquired a new stake in shares of Ready Capital in the first quarter valued at approximately $27,000. Sterling Capital Management LLC raised its position in shares of Ready Capital by 822.8% in the fourth quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 4,616 shares in the last quarter. IFP Advisors Inc raised its position in shares of Ready Capital by 1,410.5% in the first quarter. IFP Advisors Inc now owns 7,326 shares of the real estate investment trust's stock valued at $37,000 after buying an additional 6,841 shares in the last quarter. Bfsg LLC acquired a new stake in shares of Ready Capital in the first quarter valued at approximately $52,000. Finally, Greenleaf Trust acquired a new stake in shares of Ready Capital in the first quarter valued at approximately $55,000. 55.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. UBS Group dropped their price target on shares of Ready Capital from $4.75 to $4.50 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods lifted their price target on shares of Ready Capital from $3.75 to $4.25 and gave the company an "underperform" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Ready Capital currently has a consensus rating of "Hold" and an average price target of $7.04.

Ready Capital Price Performance

RC traded down $0.06 during trading on Friday, hitting $4.15. 1,855,175 shares of the stock traded hands, compared to its average volume of 1,803,135. Ready Capital Corp has a twelve month low of $3.92 and a twelve month high of $9.09. The company has a market cap of $707.62 million, a price-to-earnings ratio of -2.39 and a beta of 1.47. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.78 and a quick ratio of 1.78. The business has a 50 day moving average price of $4.41 and a 200 day moving average price of $5.06.

Ready Capital (NYSE:RC - Get Free Report) last posted its earnings results 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 positive return on equity of 5.53% and a negative net margin of 34.40%. Equities research analysts forecast that Ready Capital Corp will post 0.93 earnings per share for the current fiscal year.

Ready Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 12.0%. The ex-dividend date of this dividend was Monday, June 30th. Ready Capital's payout ratio is presently -28.74%.

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.