Ready Capital Co. (NYSE:RC) Short Interest Update

Ready Capital Co. (NYSE:RCGet Rating) saw a significant increase in short interest in March. As of March 31st, there was short interest totalling 3,380,000 shares, an increase of 25.2% from the March 15th total of 2,700,000 shares. Based on an average daily trading volume, of 1,140,000 shares, the short-interest ratio is presently 3.0 days.

Hedge funds have recently bought and sold shares of the business. Invesco Ltd. lifted its stake in shares of Ready Capital by 168.9% in the fourth quarter. Invesco Ltd. now owns 1,831,228 shares of the real estate investment trust’s stock worth $28,622,000 after acquiring an additional 1,150,178 shares in the last quarter. Millennium Management LLC raised its stake in Ready Capital by 178.4% during the fourth quarter. Millennium Management LLC now owns 501,023 shares of the real estate investment trust’s stock valued at $7,831,000 after buying an additional 321,062 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Ready Capital by 238.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 397,313 shares of the real estate investment trust’s stock valued at $6,210,000 after buying an additional 279,906 shares in the last quarter. BlackRock Inc. raised its stake in Ready Capital by 2.7% during the fourth quarter. BlackRock Inc. now owns 10,807,722 shares of the real estate investment trust’s stock valued at $168,924,000 after buying an additional 279,594 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Ready Capital by 48.4% during the fourth quarter. JPMorgan Chase & Co. now owns 670,029 shares of the real estate investment trust’s stock valued at $10,473,000 after buying an additional 218,592 shares in the last quarter. 42.94% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on RC. Zacks Investment Research cut Ready Capital from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 6th. StockNews.com began coverage on Ready Capital in a report on Thursday, March 31st. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $17.14.

Shares of NYSE:RC opened at $15.28 on Tuesday. The company has a market cap of $1.27 billion, a P/E ratio of 7.05 and a beta of 1.09. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.77. Ready Capital has a 52 week low of $13.24 and a 52 week high of $16.78. The business has a fifty day simple moving average of $15.04 and a 200-day simple moving average of $15.28.

Ready Capital (NYSE:RCGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The real estate investment trust reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.17. Ready Capital had a return on equity of 14.56% and a net margin of 39.09%. During the same period in the prior year, the company earned $0.51 earnings per share. Sell-side analysts expect that Ready Capital will post 2.13 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 29th. Shareholders of record on Thursday, March 31st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 10.99%. The ex-dividend date is Wednesday, March 30th. Ready Capital’s dividend payout ratio (DPR) is presently 78.14%.

Ready Capital Company Profile (Get Rating)

Ready Capital Corporation operates as a real estate finance company in the United States. The company acquires, originates, manages, services, and finances small to medium balance commercial (SBC) loans, small business administration (SBA) loans, residential mortgage loans, and mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.

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