Ready Capital Co. (NYSE:RC) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Ready Capital Co. (NYSE:RC - Free Report) by 9.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,440,509 shares of the real estate investment trust's stock after selling 153,410 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.84% of Ready Capital worth $14,765,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RC. JPMorgan Chase & Co. raised its stake in Ready Capital by 21.2% during the 1st quarter. JPMorgan Chase & Co. now owns 811,765 shares of the real estate investment trust's stock valued at $12,225,000 after purchasing an additional 141,736 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Ready Capital by 128.5% in the 1st quarter. Raymond James & Associates now owns 52,765 shares of the real estate investment trust's stock worth $795,000 after purchasing an additional 29,678 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Ready Capital by 86.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 57,701 shares of the real estate investment trust's stock worth $869,000 after acquiring an additional 26,781 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Ready Capital by 12.0% during the 1st quarter. Bank of New York Mellon Corp now owns 607,299 shares of the real estate investment trust's stock worth $9,145,000 after acquiring an additional 65,079 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Ready Capital during the 1st quarter worth about $966,000. 55.87% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ready Capital

In other Ready Capital news, Director Gilbert E. Nathan purchased 10,000 shares of the stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $8.65 per share, with a total value of $86,500.00. Following the acquisition, the director now directly owns 83,099 shares in the company, valued at approximately $718,806.35. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Kevin M. Luebbers acquired 5,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was acquired at an average price of $8.43 per share, for a total transaction of $42,150.00. Following the completion of the purchase, the director now owns 119,925 shares of the company's stock, valued at $1,010,967.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gilbert E. Nathan acquired 10,000 shares of the stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $8.65 per share, with a total value of $86,500.00. Following the purchase, the director now directly owns 83,099 shares of the company's stock, valued at approximately $718,806.35. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 17,150 shares of company stock worth $148,280. 0.95% of the stock is owned by company insiders.

Ready Capital Stock Up 2.3 %

Shares of NYSE:RC traded up $0.19 during trading on Thursday, reaching $8.50. 1,279,933 shares of the stock were exchanged, compared to its average volume of 1,439,176. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.89 and a quick ratio of 1.89. Ready Capital Co. has a 1-year low of $8.25 and a 1-year high of $11.97. The stock has a fifty day moving average of $8.90 and a two-hundred day moving average of $9.69. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 3.63 and a beta of 1.40.

Ready Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.20 dividend on an annualized basis and a yield of 14.13%. Ready Capital's dividend payout ratio (DPR) is presently 51.28%.

Analysts Set New Price Targets

RC has been the topic of a number of research reports. Keefe, Bruyette & Woods restated an "underperform" rating and set a $8.00 target price (down from $10.00) on shares of Ready Capital in a research report on Monday, March 4th. UBS Group decreased their target price on shares of Ready Capital from $10.50 to $9.50 and set a "neutral" rating for the company in a research note on Wednesday, March 20th. Raymond James cut shares of Ready Capital from an "outperform" rating to a "market perform" rating in a research report on Monday, December 18th. StockNews.com cut shares of Ready Capital from a "buy" rating to a "hold" rating in a research report on Monday, March 4th. Finally, B. Riley reaffirmed a "buy" rating and set a $12.00 price objective (down from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $11.08.

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.