Ready Capital Corp $RC Shares Sold by Ieq Capital LLC

Ieq Capital LLC cut its holdings in shares of Ready Capital Corp (NYSE:RC) by 16.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,085 shares of the real estate investment trust’s stock after selling 2,423 shares during the quarter. Ieq Capital LLC’s holdings in Ready Capital were worth $62,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Ready Capital by 6.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,288 shares of the real estate investment trust’s stock worth $231,000 after purchasing an additional 2,606 shares during the period. Spire Wealth Management grew its stake in shares of Ready Capital by 4.6% in the first quarter. Spire Wealth Management now owns 95,283 shares of the real estate investment trust’s stock valued at $485,000 after buying an additional 4,157 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Ready Capital by 29.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 19,665 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 4,472 shares in the last quarter. Squarepoint Ops LLC grew its stake in Ready Capital by 11.7% during the 4th quarter. Squarepoint Ops LLC now owns 42,964 shares of the real estate investment trust’s stock valued at $293,000 after purchasing an additional 4,486 shares in the last quarter. Finally, AlphaCore Capital LLC grew its position in shares of Ready Capital by 25.4% in the 4th quarter. AlphaCore Capital LLC now owns 23,024 shares of the real estate investment trust’s stock worth $163,000 after acquiring an additional 4,660 shares in the last quarter. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

Ready Capital Stock Up 2.0%

NYSE RC opened at $4.38 on Tuesday. The stock’s 50 day simple moving average is $4.24 and its 200 day simple moving average is $4.54. Ready Capital Corp has a one year low of $3.70 and a one year high of $8.41. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market cap of $718.94 million, a PE ratio of -2.36 and a beta of 1.38.

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

Ready Capital Dividend Announcement

The firm 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 was Monday, June 30th. This represents a $0.50 dividend on an annualized basis and a yield of 11.4%. Ready Capital’s dividend payout ratio (DPR) is presently -27.03%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wall Street Zen downgraded Ready Capital from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. UBS Group lowered their price target on Ready Capital from $4.50 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 20th. Keefe, Bruyette & Woods decreased their target price on Ready Capital from $4.25 to $3.75 and set an “underperform” rating on the stock in a report on Tuesday, August 12th. Finally, B. Riley lowered their price target on Ready Capital from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Monday, August 11th. 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’s stock. According to data from MarketBeat.com, Ready Capital has an average rating of “Hold” and a consensus target price of $5.88.

Ready Capital 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.