Victory Capital Management Inc. Purchases 6,211 Shares of Ready Capital Co. (NYSE:RC)

Victory Capital Management Inc. grew its position in shares of Ready Capital Co. (NYSE:RCFree Report) by 11.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,266 shares of the real estate investment trust’s stock after acquiring an additional 6,211 shares during the period. Victory Capital Management Inc.’s holdings in Ready Capital were worth $618,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bear Mountain Capital Inc. purchased a new stake in Ready Capital in the fourth quarter worth about $30,000. Allspring Global Investments Holdings LLC grew its holdings in Ready Capital by 112.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 4,039 shares during the period. Denali Advisors LLC purchased a new stake in Ready Capital in the fourth quarter worth about $102,000. Anfield Capital Management LLC purchased a new stake in Ready Capital in the third quarter worth about $103,000. Finally, Wolverine Asset Management LLC grew its holdings in Ready Capital by 23.2% in the third quarter. Wolverine Asset Management LLC now owns 10,605 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 2,000 shares during the period. 55.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RC has been the topic of a number of recent research reports. BTIG Research cut their price objective on shares of Ready Capital from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. B. Riley reiterated a “buy” rating and set a $12.00 price target (down previously from $13.00) on shares of Ready Capital in a report on Monday, March 4th. LADENBURG THALM/SH SH cut shares of Ready Capital from a “buy” rating to a “neutral” rating in a report on Friday, May 10th. UBS Group cut their price target on shares of Ready Capital from $10.50 to $9.50 and set a “neutral” rating on the stock in a report on Wednesday, March 20th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 price objective (down previously from $10.00) on shares of Ready Capital in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.93.

Get Our Latest Stock Report on Ready Capital

Insider Transactions at Ready Capital

In other news, Director Kevin M. Luebbers acquired 5,000 shares of Ready Capital stock in a transaction dated Tuesday, March 5th. The stock was purchased at an average cost of $8.43 per share, with a total value of $42,150.00. Following the completion of the purchase, the director now directly owns 119,925 shares in the company, valued at approximately $1,010,967.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Kevin M. Luebbers acquired 5,000 shares of Ready Capital stock in a transaction dated Tuesday, March 5th. The stock was purchased at an average cost of $8.43 per share, with a total value of $42,150.00. Following the completion of the purchase, the director now directly owns 119,925 shares in the company, valued at approximately $1,010,967.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gilbert E. Nathan bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $8.65 per share, with a total value of $86,500.00. Following the completion of the purchase, 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. Insiders bought a total of 17,150 shares of company stock valued at $148,280 over the last three months. Corporate insiders own 0.95% of the company’s stock.

Ready Capital Stock Down 2.5 %

RC opened at $8.29 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.47. Ready Capital Co. has a 1-year low of $8.25 and a 1-year high of $11.97. The company has a market capitalization of $1.40 billion, a PE ratio of 5.15 and a beta of 1.41. The firm’s 50 day simple moving average is $8.72 and its two-hundred day simple moving average is $9.42.

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

Ready Capital Dividend Announcement

The company 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. The ex-dividend date was Wednesday, March 27th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 14.48%. Ready Capital’s dividend payout ratio (DPR) is presently 74.53%.

Ready Capital Company 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.

Featured Articles

Want to see what other hedge funds are holding RC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ready Capital Co. (NYSE:RCFree Report).

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

Receive News & Ratings for Ready Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ready Capital and related companies with MarketBeat.com's FREE daily email newsletter.