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

Mercer Global Advisors Inc. ADV decreased its holdings in Ready Capital Co. (NYSE:RC) by 88.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,588 shares of the real estate investment trust’s stock after selling 151,443 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Ready Capital were worth $134,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Ready Capital by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 11,366,828 shares of the real estate investment trust’s stock worth $77,522,000 after purchasing an additional 768,891 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Ready Capital by 21.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,266,585 shares of the real estate investment trust’s stock worth $15,458,000 after purchasing an additional 398,005 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Ready Capital by 3,049.5% during the fourth quarter. Marshall Wace LLP now owns 392,559 shares of the real estate investment trust’s stock worth $2,677,000 after purchasing an additional 380,095 shares in the last quarter. GraniteShares Advisors LLC acquired a new position in shares of Ready Capital during the fourth quarter worth $2,480,000. Finally, Barclays PLC grew its stake in shares of Ready Capital by 205.9% during the third quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust’s stock worth $3,699,000 after purchasing an additional 326,467 shares in the last quarter. Institutional investors and hedge funds own 55.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on RC shares. Wedbush restated a “neutral” rating and issued a $6.00 price objective (down previously from $8.00) on shares of Ready Capital in a research note on Tuesday, March 4th. UBS Group decreased their price objective on shares of Ready Capital from $5.00 to $4.75 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Citizens Jmp downgraded shares of Ready Capital from an “outperform” rating to a “market perform” rating in a research note on Monday, March 3rd. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Ready Capital from $4.00 to $3.75 and set an “underperform” rating for the company in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $7.00.

Insider Activity

In other news, CEO Thomas E. Capasse purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $4.80 per share, with a total value of $48,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 319,925 shares of the company’s stock, valued at approximately $1,535,640. This trade represents a 3.23% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Ready Capital Price Performance

Shares of NYSE:RC opened at $4.53 on Friday. The company has a 50-day simple moving average of $4.65 and a 200-day simple moving average of $6.09. Ready Capital Co. has a one year low of $3.93 and a one year 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. The stock has a market capitalization of $771.54 million, a price-to-earnings ratio of -6.46 and a beta of 1.45.

Ready Capital (NYSE:RC) last announced its earnings results on Thursday, May 8th. The real estate investment trust reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.21). Ready Capital had a negative net margin of 11.65% and a positive return on equity of 7.53%. The business had revenue of $40.24 million during the quarter, compared to analysts’ expectations of $212.33 million. On average, analysts predict that Ready Capital Co. will post 0.93 EPS for the current year.

Ready Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were issued a $0.125 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 11.05%. Ready Capital’s payout ratio is -28.74%.

About Ready Capital

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.