Van ECK Associates Corp Has $10.39 Million Stock Holdings in Ready Capital Co. (NYSE:RC)

Van ECK Associates Corp grew its position in shares of Ready Capital Co. (NYSE:RC - Free Report) by 11.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,013,596 shares of the real estate investment trust's stock after purchasing an additional 107,501 shares during the period. Van ECK Associates Corp owned 0.59% of Ready Capital worth $10,389,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bailard Inc. lifted its position in Ready Capital by 50.1% during the fourth quarter. Bailard Inc. now owns 60,800 shares of the real estate investment trust's stock worth $623,000 after buying an additional 20,300 shares during the period. Madison Park Capital Advisors LLC acquired a new stake in shares of Ready Capital in the fourth quarter worth approximately $508,000. Wolverine Asset Management LLC boosted its position in shares of Ready Capital by 26.4% in the fourth quarter. Wolverine Asset Management LLC now owns 13,400 shares of the real estate investment trust's stock worth $137,000 after acquiring an additional 2,795 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Ready Capital by 11.5% in the fourth quarter. New York State Common Retirement Fund now owns 113,192 shares of the real estate investment trust's stock valued at $1,160,000 after purchasing an additional 11,630 shares during the period. Finally, Handelsbanken Fonder AB increased its position in Ready Capital by 80.4% during the fourth quarter. Handelsbanken Fonder AB now owns 25,130 shares of the real estate investment trust's stock worth $258,000 after purchasing an additional 11,200 shares during the last quarter. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RC shares. UBS Group lowered their price objective 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. Keefe, Bruyette & Woods restated an "underperform" rating and issued a $8.00 price objective (down from $10.00) on shares of Ready Capital in a report on Monday, March 4th. StockNews.com cut Ready Capital from a "buy" rating to a "hold" rating in a report on Monday, March 4th. BTIG Research lowered their target price on Ready Capital from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Wednesday, April 17th. Finally, B. Riley restated a "buy" rating and issued a $12.00 price target (down previously from $13.00) on shares of Ready Capital in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $10.93.

Ready Capital Stock Performance

Shares of NYSE:RC traded up $0.04 during trading on Friday, reaching $8.66. 1,382,168 shares of the company's stock traded hands, compared to its average volume of 1,410,400. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.89 and a quick ratio of 1.89. The company has a 50 day moving average of $8.76 and a 200-day moving average of $9.52. Ready Capital Co. has a 12 month low of $8.25 and a 12 month high of $11.97. The stock has a market capitalization of $1.46 billion, a P/E ratio of 3.70 and a beta of 1.41.

Ready Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 13.86%. The ex-dividend date of this dividend was Wednesday, March 27th. Ready Capital's payout ratio is 51.28%.

Insider Buying and Selling

In other news, Director Gilbert E. Nathan purchased 10,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $8.65 per share, for a total transaction of $86,500.00. Following the completion of the transaction, the director now owns 83,099 shares of the company's stock, valued at $718,806.35. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other Ready Capital news, Director Kevin M. Luebbers purchased 5,000 shares of Ready Capital stock in a transaction on Tuesday, March 5th. The stock was bought at an average price of $8.43 per share, for a total transaction of $42,150.00. Following the transaction, the director now owns 119,925 shares of the company's stock, valued at approximately $1,010,967.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gilbert E. Nathan purchased 10,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $8.65 per share, for a total transaction of $86,500.00. Following the completion of the acquisition, 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 have purchased 17,150 shares of company stock valued at $148,280. Insiders own 0.95% of the company's stock.

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.