Ready Capital Corp $RC Shares Acquired by US Bancorp DE

US Bancorp DE grew its stake in shares of Ready Capital Corp (NYSE:RC) by 404.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,021 shares of the real estate investment trust’s stock after acquiring an additional 4,828 shares during the quarter. US Bancorp DE’s holdings in Ready Capital were worth $31,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of RC. Raymond James Financial Inc. acquired a new position in Ready Capital during the 4th quarter valued at approximately $1,839,000. Sterling Capital Management LLC grew its holdings in shares of Ready Capital by 822.8% during the fourth quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 4,616 shares during the last quarter. Barclays PLC grew its holdings in shares of Ready Capital by 17.7% during the fourth quarter. Barclays PLC now owns 570,835 shares of the real estate investment trust’s stock valued at $3,893,000 after buying an additional 85,849 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Ready Capital in the 4th quarter valued at $165,000. Finally, Guggenheim Capital LLC raised its stake in Ready Capital by 55.4% in the 4th quarter. Guggenheim Capital LLC now owns 135,520 shares of the real estate investment trust’s stock worth $924,000 after acquiring an additional 48,339 shares during the last quarter. 55.87% of the stock is currently owned by institutional investors and hedge funds.

Ready Capital Stock Up 2.0%

Shares of RC opened at $3.8550 on Thursday. The company has a market capitalization of $633.49 million, a price-to-earnings ratio of -2.08 and a beta of 1.47. Ready Capital Corp has a 52 week low of $3.75 and a 52 week high of $8.64. The stock’s 50-day moving average price is $4.31 and its 200-day moving average price is $4.80. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.76.

Ready Capital (NYSE:RC) last announced its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.13). Ready Capital had a negative net margin of 40.59% and a positive return on equity of 3.76%. The company had revenue of ($9.77) million for the quarter, compared to analysts’ expectations of $167.26 million. On average, sell-side analysts predict that Ready Capital Corp will post 0.93 EPS for the current year.

Ready Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.50 dividend on an annualized basis and a yield of 13.0%. Ready Capital’s dividend payout ratio is -27.03%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on RC shares. B. Riley dropped their price target on Ready Capital from $6.00 to $4.00 and set a “neutral” rating on the stock in a research note on Monday, August 11th. Keefe, Bruyette & Woods decreased their target price on Ready Capital from $4.25 to $3.75 and set an “underperform” rating for the company in a report on Tuesday, August 12th. Wall Street Zen lowered Ready Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Finally, UBS Group cut their price target on shares of Ready Capital from $4.50 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Ready Capital has an average rating of “Hold” and an average target price of $5.88.

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.