Voya Investment Management LLC Sells 3,966 Shares of Ready Capital Co. (NYSE:RC)

Voya Investment Management LLC lessened its holdings in shares of Ready Capital Co. (NYSE:RC) by 7.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 50,781 shares of the real estate investment trust’s stock after selling 3,966 shares during the period. Voya Investment Management LLC’s holdings in Ready Capital were worth $346,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Barclays PLC raised its holdings in shares of Ready Capital by 205.9% in the third quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust’s stock valued at $3,699,000 after buying an additional 326,467 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Ready Capital by 50.5% in the third quarter. JPMorgan Chase & Co. now owns 336,773 shares of the real estate investment trust’s stock worth $2,570,000 after acquiring an additional 112,934 shares during the last quarter. Seed Wealth Management Inc. lifted its position in shares of Ready Capital by 93.8% during the fourth quarter. Seed Wealth Management Inc. now owns 24,800 shares of the real estate investment trust’s stock worth $169,000 after purchasing an additional 12,000 shares in the last quarter. Mutual Advisors LLC lifted its position in shares of Ready Capital by 4.7% during the fourth quarter. Mutual Advisors LLC now owns 109,993 shares of the real estate investment trust’s stock worth $742,000 after purchasing an additional 4,891 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of Ready Capital during the fourth quarter valued at approximately $142,000. Institutional investors own 55.87% of the company’s stock.

Analyst Upgrades and Downgrades

RC has been the topic of several research reports. UBS Group reduced their price objective on Ready Capital from $5.00 to $4.75 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Citizens Jmp lowered Ready Capital from an “outperform” rating to a “market perform” rating in a research note on Monday, March 3rd. Wedbush reiterated a “neutral” rating and issued a $6.00 price target (down previously from $8.00) on shares of Ready Capital in a report on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods lowered their price objective on Ready Capital from $6.25 to $4.00 and set an “underperform” rating for the company in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.04.

Insider Transactions at Ready Capital

In other news, insider Adam Zausmer bought 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, for a total transaction of $54,200.00. Following the completion of the acquisition, the insider now owns 301,105 shares in the company, valued at approximately $1,631,989.10. This trade represents a 3.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.09% of the company’s stock.

Ready Capital Price Performance

RC opened at $4.13 on Monday. The company has a fifty day moving average price of $4.72 and a two-hundred day moving average price of $6.17. The firm has a market capitalization of $711.54 million, a PE ratio of -5.90 and a beta of 1.45. Ready Capital Co. has a 52 week low of $3.93 and a 52 week high of $9.54. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67.

Ready Capital (NYSE:RC) last posted its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.21). Ready Capital had a positive return on equity of 7.53% and a negative net margin of 11.65%. The company had revenue of $40.24 million during the quarter, compared to the consensus estimate of $212.33 million. As a group, analysts anticipate that Ready Capital Co. will post 0.93 earnings per share for the current year.

Ready Capital Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 12.11%. The ex-dividend date was Monday, March 31st. Ready Capital’s dividend payout ratio (DPR) is currently -18.94%.

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.