Ready Capital Corp $RC Shares Purchased by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC lifted its position in Ready Capital Corp (NYSE:RC) by 18.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,148 shares of the real estate investment trust’s stock after acquiring an additional 7,248 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Ready Capital were worth $207,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RC. IFP Advisors Inc raised its position in shares of Ready Capital by 95.6% during the 2nd quarter. IFP Advisors Inc now owns 14,330 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 7,004 shares in the last quarter. Simplicity Wealth LLC increased its stake in Ready Capital by 100.0% during the second quarter. Simplicity Wealth LLC now owns 60,000 shares of the real estate investment trust’s stock valued at $262,000 after purchasing an additional 30,000 shares during the last quarter. GraniteShares Advisors LLC raised its holdings in shares of Ready Capital by 6.7% during the second quarter. GraniteShares Advisors LLC now owns 412,967 shares of the real estate investment trust’s stock worth $1,805,000 after purchasing an additional 25,806 shares during the period. Sage Rhino Capital LLC bought a new position in shares of Ready Capital in the 2nd quarter worth about $47,000. Finally, State of Alaska Department of Revenue lifted its position in shares of Ready Capital by 9.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 101,786 shares of the real estate investment trust’s stock worth $444,000 after buying an additional 8,404 shares during the last quarter. 55.87% of the stock is currently owned by institutional investors.

Ready Capital Trading Down 0.3%

Shares of Ready Capital stock opened at $3.45 on Monday. The business has a fifty day simple moving average of $4.04 and a 200-day simple moving average of $4.31. Ready Capital Corp has a fifty-two week low of $3.42 and a fifty-two week high of $7.64. The firm has a market cap of $566.93 million, a price-to-earnings ratio of -1.86 and a beta of 1.45. 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 released its earnings results on Tuesday, September 9th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter. Ready Capital had a positive return on equity of 3.76% and a negative net margin of 40.59%.The firm had revenue of ($9.77) million for the quarter. On average, equities analysts forecast 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. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.50 annualized dividend and a yield of 14.5%. Ready Capital’s dividend payout ratio is currently -27.03%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ready Capital in a research report on Wednesday, October 8th. UBS Group decreased their target price on Ready Capital from $4.50 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday, August 20th. Keefe, Bruyette & Woods lowered their target price on Ready Capital from $3.75 to $3.50 and set an “underperform” rating for the company in a report on Thursday. B. Riley cut 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. Finally, Wall Street Zen lowered Ready Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $5.40.

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.