10,000 Shares in Ready Capital Co. (NYSE:RC) Purchased by Denali Advisors LLC

Denali Advisors LLC purchased a new stake in shares of Ready Capital Co. (NYSE:RCFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,000 shares of the real estate investment trust’s stock, valued at approximately $102,000.

Several other hedge funds have also modified their holdings of RC. Public Employees Retirement System of Ohio lifted its position in shares of Ready Capital by 163.7% during the second quarter. Public Employees Retirement System of Ohio now owns 2,289 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 1,421 shares during the last quarter. FMR LLC lifted its position in shares of Ready Capital by 37.0% during the first quarter. FMR LLC now owns 4,710 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 1,272 shares during the last quarter. Quarry LP raised its position in shares of Ready Capital by 1,028.8% in the 1st quarter. Quarry LP now owns 5,881 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 5,360 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Ready Capital by 177.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,985 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 3,831 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Ready Capital by 112.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 4,039 shares during the last quarter. 55.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. UBS Group decreased their price objective on shares of Ready Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a research report on Wednesday, March 20th. StockNews.com lowered shares of Ready Capital from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 price objective (down from $10.00) on shares of Ready Capital in a research report on Monday, March 4th. B. Riley reaffirmed a “buy” rating and issued a $12.00 price objective (down from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. Finally, Raymond James cut shares of Ready Capital from an “outperform” rating to a “market perform” rating in a research note on Monday, December 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $11.08.

View Our Latest Research Report on Ready Capital

Insider Transactions at Ready Capital

In other news, Director Gilbert E. Nathan bought 10,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $8.65 per share, with a total value of $86,500.00. Following the purchase, the director now directly owns 83,099 shares in the company, valued at approximately $718,806.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Gilbert E. Nathan bought 10,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $8.65 per share, with a total value of $86,500.00. Following the purchase, the director now directly owns 83,099 shares in the company, valued at approximately $718,806.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kevin M. Luebbers purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was bought at an average cost of $8.43 per share, for a total transaction 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 disclosure for this purchase can be found here. Insiders have bought a total of 17,150 shares of company stock valued at $148,280 in the last ninety days. 0.95% of the stock is currently owned by corporate insiders.

Ready Capital Price Performance

Shares of RC opened at $9.13 on Monday. The business’s 50-day moving average is $9.08 and its two-hundred day moving average is $9.81. The company has a market capitalization of $1.58 billion, a P/E ratio of 3.90 and a beta of 1.40. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.89 and a current ratio of 1.89. Ready Capital Co. has a fifty-two week low of $8.30 and a fifty-two week high of $11.97.

Ready Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 13.14%. The ex-dividend date is Wednesday, March 27th. Ready Capital’s payout ratio is currently 51.28%.

Ready Capital 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.

Further Reading

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

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