Rhumbline Advisers Has $2.42 Million Position in Ready Capital Corp $RC

Rhumbline Advisers lessened its stake in Ready Capital Corp (NYSE:RC) by 5.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 475,449 shares of the real estate investment trust’s stock after selling 28,081 shares during the quarter. Rhumbline Advisers owned 0.28% of Ready Capital worth $2,420,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Deutsche Bank AG grew its holdings in shares of Ready Capital by 50.7% during the 4th quarter. Deutsche Bank AG now owns 134,542 shares of the real estate investment trust’s stock valued at $918,000 after acquiring an additional 45,243 shares in the last quarter. ProShare Advisors LLC grew its stake in Ready Capital by 44.3% in the fourth quarter. ProShare Advisors LLC now owns 48,840 shares of the real estate investment trust’s stock valued at $333,000 after purchasing an additional 14,994 shares in the last quarter. Squarepoint Ops LLC grew its stake in Ready Capital by 11.7% in the fourth 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Ready Capital by 19.4% in the 4th 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 purchasing an additional 70,314 shares during the last quarter. Finally, AlphaCore Capital LLC raised 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 in the last quarter. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on RC. Keefe, Bruyette & Woods decreased their target price on shares of Ready Capital from $4.25 to $3.75 and set an “underperform” rating for the company in a research report on Tuesday, August 12th. B. Riley decreased their price objective 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. UBS Group cut their target price on Ready Capital from $4.50 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, August 20th. Finally, Wall Street Zen downgraded Ready Capital from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.45.

Ready Capital Stock Performance

Ready Capital stock opened at $4.34 on Wednesday. The firm has a market capitalization of $713.19 million, a P/E ratio of -2.35 and a beta of 1.38. The stock has a fifty day moving average price of $4.19 and a two-hundred day moving average price of $4.45. Ready Capital Corp has a 52-week low of $3.70 and a 52-week 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.

Ready Capital (NYSE:RC) last posted its 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). The firm had revenue of ($9.77) million during the quarter, compared to the consensus estimate of $167.26 million. Ready Capital had a positive return on equity of 3.76% and a negative net margin of 40.59%. As a group, analysts anticipate that Ready Capital Corp will post 0.93 EPS for the current fiscal year.

Ready Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a $0.125 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 11.5%. Ready Capital’s payout ratio is -27.03%.

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.