AlphaQuest LLC Boosts Stake in Ready Capital Co. (NYSE:RC)

AlphaQuest LLC boosted its stake in Ready Capital Co. (NYSE:RC) by 33.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,968 shares of the real estate investment trust’s stock after buying an additional 6,988 shares during the quarter. AlphaQuest LLC’s holdings in Ready Capital were worth $191,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RC. Steward Partners Investment Advisory LLC lifted its stake in Ready Capital by 3,075.0% in 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 buying an additional 6,150 shares in the last quarter. Avion Wealth acquired a new position in Ready Capital in the 4th quarter valued at $47,000. KBC Group NV raised its holdings in Ready Capital by 64.1% in the 3rd quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 3,248 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Ready Capital in the 4th quarter valued at $69,000. Finally, Ieq Capital LLC acquired a new position in Ready Capital in the 4th quarter valued at $99,000. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Ready Capital Trading Down 0.9 %

NYSE:RC opened at $5.02 on Monday. The business’s 50-day moving average is $6.42 and its two-hundred day moving average is $7.04. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67. Ready Capital Co. has a 12 month low of $4.74 and a 12 month high of $9.53. The firm has a market capitalization of $818.20 million, a PE ratio of -7.16 and a beta of 1.43.

Ready Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 9.97%. The ex-dividend date of this dividend is Monday, March 31st. Ready Capital’s dividend payout ratio (DPR) is presently -18.94%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RC shares. B. Riley reiterated a “neutral” rating and issued a $10.00 price target (down from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. Keefe, Bruyette & Woods cut their price target on Ready Capital from $6.25 to $4.00 and set an “underperform” rating for the company in a report on Wednesday, March 5th. Wedbush reiterated a “neutral” rating and issued a $6.00 price target (down from $8.00) on shares of Ready Capital in a report on Tuesday, March 4th. Citizens Jmp lowered Ready Capital from an “outperform” rating to a “market perform” rating in a research report on Monday, March 3rd. Finally, JMP Securities cut their target price on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a research report on Thursday, December 12th. One 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, Ready Capital has a consensus rating of “Hold” and a consensus price target of $7.50.

Insider Buying and Selling at Ready Capital

In related news, insider Adam Zausmer acquired 10,000 shares of the business’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $5.42 per share, with a total value of $54,200.00. Following the completion of the transaction, the insider now directly owns 301,105 shares of the company’s stock, valued at $1,631,989.10. This trade represents a 3.44 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.09% of the stock is currently owned by corporate insiders.

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.