Swiss National Bank Sells 35,000 Shares of Ready Capital Co. (NYSE:RC)

Swiss National Bank lowered its holdings in Ready Capital Co. (NYSE:RCFree Report) by 9.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 321,956 shares of the real estate investment trust’s stock after selling 35,000 shares during the period. Swiss National Bank owned approximately 0.19% of Ready Capital worth $3,300,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bear Mountain Capital Inc. bought a new stake in Ready Capital during the fourth quarter worth about $30,000. Allspring Global Investments Holdings LLC boosted its position in shares of Ready Capital by 112.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the real estate investment trust’s stock worth $77,000 after acquiring an additional 4,039 shares in the last quarter. Denali Advisors LLC acquired a new stake in shares of Ready Capital during the 4th quarter worth approximately $102,000. Anfield Capital Management LLC bought a new position in Ready Capital in the third quarter valued at approximately $103,000. Finally, Wolverine Asset Management LLC raised its position in Ready Capital by 23.2% during the third quarter. Wolverine Asset Management LLC now owns 10,605 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 55.87% of the company’s stock.

Ready Capital Trading Down 0.7 %

Shares of RC stock opened at $8.52 on Wednesday. Ready Capital Co. has a 1-year low of $8.25 and a 1-year high of $11.97. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 5.29 and a beta of 1.41. The stock has a 50-day moving average of $8.74 and a 200-day moving average of $9.43.

Ready Capital (NYSE:RCGet Free Report) last released its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $232.35 million during the quarter, compared to the consensus estimate of $64.34 million. Ready Capital had a net margin of 23.81% and a return on equity of 8.11%. During the same quarter in the prior year, the firm posted $0.31 EPS. On average, equities research analysts forecast that Ready Capital Co. will post 1.17 earnings per share for the current year.

Ready Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 14.08%. The ex-dividend date was Wednesday, March 27th. Ready Capital’s dividend payout ratio is 74.53%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. BTIG Research lowered their price target on Ready Capital from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. UBS Group dropped their target price on shares of Ready Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a report on Wednesday, March 20th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $8.00 price objective (down from $10.00) on shares of Ready Capital in a research report on Monday, March 4th. B. Riley reaffirmed a “buy” rating and set a $12.00 target price (down previously from $13.00) on shares of Ready Capital in a research note on Monday, March 4th. Finally, LADENBURG THALM/SH SH downgraded Ready Capital from a “buy” rating to a “neutral” rating in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.93.

View Our Latest Report on RC

Insider Buying and Selling at Ready Capital

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

About Ready Capital

(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.

See Also

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Institutional Ownership by Quarter for Ready Capital (NYSE:RC)

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