Raymond James Financial Inc. Purchases Shares of 269,659 Ready Capital Co. (NYSE:RC)

Raymond James Financial Inc. acquired a new stake in shares of Ready Capital Co. (NYSE:RC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 269,659 shares of the real estate investment trust's stock, valued at approximately $1,839,000. Raymond James Financial Inc. owned about 0.16% of Ready Capital at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Invesco Ltd. grew its holdings in Ready Capital by 6.8% in the 4th quarter. Invesco Ltd. now owns 3,116,019 shares of the real estate investment trust's stock worth $21,251,000 after acquiring an additional 197,770 shares during the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of Ready Capital in the fourth quarter worth about $717,000. JPMorgan Chase & Co. increased its holdings in Ready Capital by 82.7% during the 4th quarter. JPMorgan Chase & Co. now owns 615,431 shares of the real estate investment trust's stock valued at $4,197,000 after purchasing an additional 278,658 shares during the period. Ausdal Financial Partners Inc. bought a new position in Ready Capital during the 4th quarter valued at approximately $68,000. Finally, Vanguard Group Inc. lifted its holdings in Ready Capital by 7.3% in the 4th 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 during the period. Hedge funds and other institutional investors own 55.87% of the company's stock.

Insider Buying and Selling at Ready Capital

In other news, CEO Thomas E. Capasse bought 10,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $4.80 per share, for a total transaction of $48,000.00. Following the completion of the purchase, the chief executive officer now owns 319,925 shares in the company, valued at approximately $1,535,640. This represents a 3.23 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.09% of the stock is owned by company insiders.

Ready Capital Price Performance

Shares of RC opened at $4.49 on Friday. Ready Capital Co. has a fifty-two week low of $4.16 and a fifty-two week high of $9.54. The firm's 50-day simple moving average is $4.95 and its two-hundred day simple moving average is $6.30. The stock has a market cap of $770.65 million, a PE ratio of -6.41 and a beta of 1.23. 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 Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 11.15%. The ex-dividend date was Monday, March 31st. Ready Capital's payout ratio is -18.94%.

Wall Street Analysts Forecast Growth

RC has been the topic of several research analyst reports. Citizens Jmp cut Ready Capital from an "outperform" rating to a "market perform" rating in a research note on Monday, March 3rd. UBS Group decreased their price objective on shares of Ready Capital from $5.00 to $4.75 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Wedbush reaffirmed a "neutral" rating and set a $6.00 target price (down previously from $8.00) on shares of Ready Capital in a research note on Tuesday, March 4th. B. Riley reiterated a "neutral" rating and set a $10.00 price target (down previously from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Ready Capital from $6.25 to $4.00 and set an "underperform" rating for the company in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Ready Capital currently has an average rating of "Hold" and a consensus target price 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.

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