Schonfeld Strategic Advisors LLC Has $2.54 Million Position in Ready Capital Co. (NYSE:RC)

Schonfeld Strategic Advisors LLC boosted its stake in shares of Ready Capital Co. (NYSE:RC - Free Report) by 88.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 372,281 shares of the real estate investment trust's stock after purchasing an additional 174,416 shares during the quarter. Schonfeld Strategic Advisors LLC owned about 0.22% of Ready Capital worth $2,539,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its holdings in shares of Ready Capital by 822.8% during the fourth quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust's stock worth $35,000 after buying an additional 4,616 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in Ready Capital by 3,075.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust's stock valued at $43,000 after purchasing an additional 6,150 shares during the last quarter. Avion Wealth bought a new stake in Ready Capital in the 4th quarter valued at $47,000. Ausdal Financial Partners Inc. acquired a new stake in Ready Capital in the 4th quarter worth $68,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Ready Capital during the 4th quarter worth about $69,000. Institutional investors and hedge funds own 55.87% of the company's stock.

Ready Capital Price Performance

Shares of NYSE:RC traded down $0.25 on Friday, hitting $4.13. The stock had a trading volume of 5,746,991 shares, compared to its average volume of 2,052,478. The company has a market capitalization of $711.54 million, a price-to-earnings ratio of -5.90 and a beta of 1.45. 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's 50 day moving average price is $4.72 and its 200-day moving average price is $6.18. Ready Capital Co. has a twelve month low of $3.93 and a twelve month high of $9.54.

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). The firm had revenue of $40.24 million during the quarter, compared to analyst estimates of $212.33 million. Ready Capital had a negative net margin of 11.65% and a positive return on equity of 7.53%. On average, equities research analysts predict that Ready Capital Co. will post 0.93 earnings per share for the current year.

Ready Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were given a $0.125 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.50 annualized dividend and a yield of 12.11%. Ready Capital's payout ratio is -18.94%.

Insiders Place Their Bets

In other news, insider Adam Zausmer acquired 10,000 shares of Ready Capital stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $5.42 per share, with a total value of $54,200.00. Following the acquisition, the insider now owns 301,105 shares in the company, valued at $1,631,989.10. This represents a 3.44 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.09% of the company's stock.

Analysts Set New Price Targets

RC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods decreased their target price on Ready Capital from $6.25 to $4.00 and set an "underperform" rating on the stock in a research report on Wednesday, March 5th. UBS Group lowered their price objective on Ready Capital from $5.00 to $4.75 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Citizens Jmp downgraded shares of Ready Capital from an "outperform" rating to a "market perform" rating in a research note on Monday, March 3rd. Finally, Wedbush restated a "neutral" rating and issued a $6.00 price objective (down previously from $8.00) on shares of Ready Capital in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $7.04.

Ready Capital 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.