65,092 Shares in Ready Capital Co. (NYSE:RC) Bought by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC acquired a new position in shares of Ready Capital Co. (NYSE:RCFree Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 65,092 shares of the real estate investment trust’s stock, valued at approximately $667,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Congress Wealth Management LLC DE boosted its position in shares of Ready Capital by 27.0% during the 4th quarter. Congress Wealth Management LLC DE now owns 31,379 shares of the real estate investment trust’s stock worth $322,000 after acquiring an additional 6,667 shares in the last quarter. Team Hewins LLC acquired a new position in shares of Ready Capital during the 4th quarter worth about $236,000. Sheaff Brock Investment Advisors LLC acquired a new position in shares of Ready Capital during the 4th quarter worth about $134,000. Vanguard Personalized Indexing Management LLC boosted its position in shares of Ready Capital by 19.5% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 13,801 shares of the real estate investment trust’s stock valued at $141,000 after purchasing an additional 2,248 shares during the period. Finally, Jump Financial LLC boosted its position in shares of Ready Capital by 106.7% in the 4th quarter. Jump Financial LLC now owns 22,516 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 11,625 shares during the period. 55.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ready Capital

In other Ready Capital news, Director Gilbert E. Nathan acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $8.65 per share, for a total transaction of $86,500.00. Following the completion of the acquisition, the director now directly owns 83,099 shares of the company’s stock, valued at $718,806.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have purchased 22,150 shares of company stock worth $189,030. 0.95% of the stock is owned by insiders.

Ready Capital Stock Performance

RC opened at $8.23 on Tuesday. The stock has a market cap of $1.39 billion, a P/E ratio of 5.11 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.76. The stock’s 50 day simple moving average is $8.55 and its 200 day simple moving average is $9.27. Ready Capital Co. has a 1-year low of $7.93 and a 1-year high of $11.97.

Ready Capital (NYSE:RCGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $232.35 million for the quarter, compared to analysts’ expectations of $64.34 million. Ready Capital had a return on equity of 8.11% and a net margin of 23.81%. During the same quarter in the prior year, the firm posted $0.31 EPS. As a group, equities analysts anticipate that Ready Capital Co. will post 1.17 EPS for the current fiscal year.

Ready Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 14.58%. The ex-dividend date was Wednesday, March 27th. Ready Capital’s dividend payout ratio (DPR) is presently 74.53%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 target price (down from $10.00) on shares of Ready Capital in a research report on Monday, March 4th. B. Riley reissued a “buy” rating and issued a $12.00 target price (down from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. LADENBURG THALM/SH SH downgraded Ready Capital from a “buy” rating to a “neutral” rating in a research note on Friday, May 10th. UBS Group reduced their price objective on Ready Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a research note on Wednesday, March 20th. Finally, StockNews.com downgraded Ready Capital from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.93.

View Our Latest Report on RC

Ready Capital Company 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.

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

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