Ready Capital Corp (NYSE:RC) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its holdings in Ready Capital Corp (NYSE:RC) by 9.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 77,928 shares of the real estate investment trust’s stock after buying an additional 7,042 shares during the period. Nisa Investment Advisors LLC’s holdings in Ready Capital were worth $407,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in RC. Vanguard Group Inc. raised its holdings in 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. Invesco Ltd. grew its position in Ready Capital by 6.8% during the fourth quarter. Invesco Ltd. now owns 3,116,019 shares of the real estate investment trust’s stock worth $21,251,000 after buying an additional 197,770 shares during the period. Charles Schwab Investment Management Inc. grew its position in 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 buying an additional 398,005 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Ready Capital by 5.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,018,413 shares of the real estate investment trust’s stock worth $13,766,000 after buying an additional 98,895 shares during the period. Finally, Northern Trust Corp grew its position in Ready Capital by 6.3% during the fourth quarter. Northern Trust Corp now owns 1,833,044 shares of the real estate investment trust’s stock worth $12,501,000 after buying an additional 108,519 shares during the period. 55.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RC shares. Keefe, Bruyette & Woods upped their target price on shares of Ready Capital from $3.75 to $4.25 and gave the stock an “underperform” rating in a research report on Thursday, July 10th. UBS Group lowered their price target on shares of Ready Capital from $4.75 to $4.50 and set a “neutral” rating on the stock in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.04.

Ready Capital Stock Up 2.3%

Shares of NYSE RC opened at $4.32 on Thursday. Ready Capital Corp has a 1 year low of $3.93 and a 1 year high of $9.54. The firm’s 50 day moving average price is $4.40 and its 200 day moving average price is $5.26. The firm has a market cap of $735.75 million, a P/E ratio of -2.48 and a beta of 1.43. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.78 and a current ratio of 1.78.

Ready Capital (NYSE:RC) last announced its earnings results on Thursday, May 8th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.21). Ready Capital had a positive return on equity of 5.53% and a negative net margin of 34.40%. The firm had revenue of $40.24 million for the quarter, compared to analyst estimates of $212.33 million. As a group, sell-side analysts anticipate that Ready Capital Corp will post 0.93 earnings per share for the current year.

Ready Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 11.59%. Ready Capital’s dividend payout ratio (DPR) is presently -28.74%.

Ready Capital Company Profile

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.