MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Holdings in Ready Capital Co. (NYSE:RC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Ready Capital Co. (NYSE:RC - Free Report) by 5.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,018,413 shares of the real estate investment trust's stock after buying an additional 98,895 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 1.20% of Ready Capital worth $13,766,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in 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 valued at $77,522,000 after acquiring an additional 768,891 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Ready Capital by 6.8% during the 4th 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 during the last quarter. Charles Schwab Investment Management Inc. grew its position 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 in the last quarter. Northern Trust Corp increased its holdings in shares of 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 worth $12,501,000 after purchasing an additional 108,519 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Ready Capital by 12.8% in the fourth quarter. Van ECK Associates Corp now owns 1,540,765 shares of the real estate investment trust's stock worth $10,508,000 after buying an additional 174,725 shares in the last quarter. 55.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RC shares. Keefe, Bruyette & Woods cut their price target on Ready Capital from $4.00 to $3.75 and set an "underperform" rating for the company in a report on Tuesday, May 13th. Citizens Jmp cut shares of Ready Capital from an "outperform" rating to a "market perform" rating in a research report on Monday, March 3rd. Wedbush reaffirmed 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. Finally, UBS Group reduced their target price on shares of Ready Capital from $5.00 to $4.75 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. One 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, the stock currently has an average rating of "Hold" and an average price target of $7.00.

Insider Activity

In related news, insider Adam Zausmer acquired 10,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $5.42 per share, for a total transaction of $54,200.00. Following the acquisition, the insider now directly owns 301,105 shares of the company's stock, valued at $1,631,989.10. This represents a 3.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company's stock.

Ready Capital Trading Down 2.0%

NYSE RC traded down $0.09 on Monday, hitting $4.44. 2,002,783 shares of the stock were exchanged, compared to its average volume of 2,090,456. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. Ready Capital Co. has a 52-week low of $3.93 and a 52-week high of $9.54. The firm has a market capitalization of $757.05 million, a P/E ratio of -6.34 and a beta of 1.45. The stock has a fifty day moving average price of $4.65 and a two-hundred day moving average price of $6.08.

Ready Capital (NYSE:RC - Get Free Report) last released its quarterly 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 positive return on equity of 7.53% and a negative net margin of 11.65%. The firm had revenue of $40.24 million for the quarter, compared to analysts' expectations of $212.33 million. Research analysts forecast that Ready Capital Co. will post 0.93 EPS for the current fiscal year.

Ready Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 11.26%. Ready Capital's dividend payout ratio is -28.74%.

About Ready Capital

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.