Ready Capital Co. (NYSE:RC) Shares Sold by Mercer Global Advisors Inc. ADV

Posted by Defense World Staff on May 15th, 2023

Mercer Global Advisors Inc. ADV reduced its holdings in shares of Ready Capital Co. (NYSE:RC – Get Rating) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 272,924 shares of the real estate investment trust’s stock after selling 2,515 shares during the quarter. Mercer Global Advisors Inc. ADV owned approximately 0.25% of Ready Capital worth $3,040,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Sunbelt Securities Inc. boosted its position in shares of Ready Capital by 1.7% during the 4th quarter. Sunbelt Securities Inc. now owns 79,164 shares of the real estate investment trust’s stock worth $882,000 after acquiring an additional 1,353 shares in the last quarter. UBS Group AG boosted its position in shares of Ready Capital by 43.3% in the 4th quarter. UBS Group AG now owns 120,015 shares of the real estate investment trust’s stock valued at $1,337,000 after purchasing an additional 36,284 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Ready Capital by 9.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 22,920 shares of the real estate investment trust’s stock valued at $255,000 after purchasing an additional 1,895 shares during the period. Van ECK Associates Corp boosted its position in shares of Ready Capital by 6.6% in the 4th quarter. Van ECK Associates Corp now owns 539,150 shares of the real estate investment trust’s stock valued at $6,006,000 after purchasing an additional 33,445 shares during the period. Finally, Swiss National Bank boosted its position in shares of Ready Capital by 46.7% in the 4th quarter. Swiss National Bank now owns 248,645 shares of the real estate investment trust’s stock valued at $2,770,000 after purchasing an additional 79,100 shares during the period. 62.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on RC. StockNews.com began coverage on Ready Capital in a research report on Thursday, March 16th. They set a “hold” rating for the company. Keefe, Bruyette & Woods decreased their price objective on Ready Capital from $12.00 to $10.50 and set a “market perform” rating for the company in a research report on Thursday, April 13th. Finally, Piper Sandler decreased their price objective on Ready Capital from $13.00 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, February 28th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.71.

Insider Transactions at Ready Capital

In other Ready Capital news, Director Dominique Mielle acquired 7,500 shares of the firm’s stock in a transaction dated Friday, March 3rd. The shares were acquired at an average price of $14.15 per share, for a total transaction of $106,125.00. Following the completion of the acquisition, the director now directly owns 35,988 shares of the company’s stock, valued at $509,230.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Gilbert E. Nathan bought 5,000 shares of Ready Capital stock in a transaction that occurred on Tuesday, March 7th. The shares were purchased at an average price of $10.95 per share, for a total transaction of $54,750.00. Following the completion of the acquisition, the director now owns 56,565 shares of the company’s stock, valued at $619,386.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dominique Mielle bought 7,500 shares of Ready Capital stock in a transaction that occurred on Friday, March 3rd. The stock was purchased at an average price of $14.15 per share, for a total transaction of $106,125.00. Following the acquisition, the director now directly owns 35,988 shares of the company’s stock, valued at approximately $509,230.20. The disclosure for this purchase can be found here. Insiders own 1.64% of the company’s stock.

Ready Capital Stock Performance

NYSE RC opened at $10.28 on Monday. Ready Capital Co. has a 1-year low of $9.36 and a 1-year high of $14.98. The company has a market capitalization of $1.14 billion, a P/E ratio of 7.73 and a beta of 1.38. The business has a 50 day moving average price of $10.21 and a 200 day moving average price of $11.69. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.37 and a quick ratio of 1.37.

Ready Capital (NYSE:RC – Get Rating) last released its quarterly earnings data on Monday, February 27th. The real estate investment trust reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01. The firm had revenue of $249.49 million during the quarter, compared to the consensus estimate of $73.45 million. Ready Capital had a return on equity of 10.89% and a net margin of 20.57%. Sell-side analysts expect that Ready Capital Co. will post 1.59 EPS for the current fiscal year.

Ready Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Friday, March 31st were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 15.56%. The ex-dividend date of this dividend was Thursday, March 30th. Ready Capital’s dividend payout ratio (DPR) is 120.30%.

About Ready Capital

(Get Rating)

Ready Capital Corp. is a real estate finance company, which engages in acquiring, managing, and financing small balance commercial loans. It operates through the following segments: SBC Lending and Acquisitions, Small Business Lending, and Residential Mortgage Banking. The SBC Lending and Acquisitions segment is involved in the SBC loans across the full life-cycle of an SBC property including construction, bridge, stabilized, and agency loan origination channels through wholly-owned subsidiary, ReadyCap Commercial, LLC.