Geneos Wealth Management Inc. Raises Stock Holdings in Ready Capital Corp $RC

Geneos Wealth Management Inc. raised its stake in shares of Ready Capital Corp (NYSE:RC) by 23,967.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 43,080 shares of the real estate investment trust’s stock after acquiring an additional 42,901 shares during the period. Geneos Wealth Management Inc.’s holdings in Ready Capital were worth $219,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Deutsche Bank AG lifted its position in Ready Capital by 50.7% during the fourth quarter. Deutsche Bank AG now owns 134,542 shares of the real estate investment trust’s stock valued at $918,000 after purchasing an additional 45,243 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Ready Capital by 44.3% during the 4th quarter. ProShare Advisors LLC now owns 48,840 shares of the real estate investment trust’s stock valued at $333,000 after buying an additional 14,994 shares during the period. Squarepoint Ops LLC boosted its stake in shares of Ready Capital by 11.7% in the 4th quarter. Squarepoint Ops LLC now owns 42,964 shares of the real estate investment trust’s stock worth $293,000 after buying an additional 4,486 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Ready Capital by 19.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 432,540 shares of the real estate investment trust’s stock worth $2,950,000 after acquiring an additional 70,314 shares during the period. Finally, AlphaCore Capital LLC increased its position in Ready Capital by 25.4% during the fourth quarter. AlphaCore Capital LLC now owns 23,024 shares of the real estate investment trust’s stock valued at $163,000 after acquiring an additional 4,660 shares during the last quarter. 55.87% of the stock is currently owned by institutional investors.

Ready Capital Stock Up 1.2%

Shares of RC stock opened at $4.24 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.61 and a quick ratio of 1.61. Ready Capital Corp has a one year low of $3.70 and a one year high of $8.41. The company’s fifty day moving average price is $4.20 and its 200-day moving average price is $4.45. The company has a market capitalization of $696.76 million, a price-to-earnings ratio of -2.29 and a beta of 1.38.

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

Ready Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 11.8%. Ready Capital’s dividend payout ratio (DPR) is presently -27.03%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RC shares. Wall Street Zen cut Ready Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Keefe, Bruyette & Woods dropped their price objective on shares of Ready Capital from $4.25 to $3.75 and set an “underperform” rating on the stock in a report on Tuesday, August 12th. B. Riley reduced their target price on shares of Ready Capital from $6.00 to $4.00 and set a “neutral” rating for the company in a report on Monday, August 11th. Finally, UBS Group decreased their price target on shares of Ready Capital from $4.50 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ready Capital has an average rating of “Hold” and a consensus target price of $5.45.

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.