Barclays PLC increased its position in shares of Ready Capital Co. (NYSE:RC - Free Report) by 17.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 570,835 shares of the real estate investment trust's stock after purchasing an additional 85,849 shares during the period. Barclays PLC owned 0.34% of Ready Capital worth $3,893,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Ready Capital by 7.3% during the 4th quarter. Vanguard Group Inc. now owns 11,366,828 shares of the real estate investment trust's stock valued at $77,522,000 after buying an additional 768,891 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Ready Capital by 21.3% in 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. GraniteShares Advisors LLC bought a new stake in Ready Capital in the fourth quarter worth $2,480,000. Advisors Asset Management Inc. increased its position in Ready Capital by 74.1% in the fourth quarter. Advisors Asset Management Inc. now owns 695,357 shares of the real estate investment trust's stock worth $4,742,000 after purchasing an additional 295,956 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Ready Capital by 82.7% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 55.87% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts recently commented on RC shares. B. Riley reiterated a "neutral" rating and issued a $10.00 price target (down previously from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. Citizens Jmp lowered Ready Capital from an "outperform" rating to a "market perform" rating in a report on Monday, March 3rd. UBS Group dropped their price objective on shares of Ready Capital from $5.00 to $4.75 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods dropped their price target on shares of Ready Capital from $6.25 to $4.00 and set an "underperform" rating for the company in a research note on Wednesday, March 5th. Finally, Wedbush restated a "neutral" rating and set a $6.00 target price (down previously from $8.00) on shares of Ready Capital in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Ready Capital presently has a consensus rating of "Hold" and an average target price of $7.04.
Get Our Latest Stock Report on Ready Capital
Ready Capital Trading Up 0.6 %
RC traded up $0.03 during trading on Thursday, hitting $4.48. 1,462,307 shares of the stock were exchanged, compared to its average volume of 2,025,948. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. The firm has a 50 day simple moving average of $4.99 and a 200 day simple moving average of $6.32. The firm has a market cap of $768.93 million, a price-to-earnings ratio of -6.39 and a beta of 1.23. Ready Capital Co. has a 1 year low of $4.16 and a 1 year high of $9.54.
Ready Capital Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were issued a $0.125 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.50 annualized dividend and a dividend yield of 11.17%. Ready Capital's payout ratio is currently -18.94%.
Insider Buying and Selling
In related news, insider Adam Zausmer bought 10,000 shares of the stock in a transaction 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 completion of the acquisition, the insider now directly owns 301,105 shares in the company, valued at approximately $1,631,989.10. This represents a 3.44 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.09% of the stock is owned by insiders.
Ready Capital Profile
(
Free Report)
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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