Cwm LLC Sells 37,878 Shares of Ready Capital Corp $RC

Cwm LLC lowered its holdings in Ready Capital Corp (NYSE:RC) by 35.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 70,008 shares of the real estate investment trust’s stock after selling 37,878 shares during the quarter. Cwm LLC’s holdings in Ready Capital were worth $306,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RC. Vanguard Group Inc. raised its stake in Ready Capital by 0.7% in the first quarter. Vanguard Group Inc. now owns 11,450,959 shares of the real estate investment trust’s stock worth $58,285,000 after buying an additional 84,131 shares in the last quarter. Invesco Ltd. raised its holdings in Ready Capital by 16.1% in the first quarter. Invesco Ltd. now owns 3,618,181 shares of the real estate investment trust’s stock worth $18,417,000 after purchasing an additional 502,162 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Ready Capital by 0.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,276,719 shares of the real estate investment trust’s stock worth $11,588,000 after purchasing an additional 10,134 shares in the last quarter. Private Management Group Inc. purchased a new stake in shares of Ready Capital during the first quarter valued at about $8,235,000. Finally, Bank of New York Mellon Corp lifted its position in Ready Capital by 14.8% during the first quarter. Bank of New York Mellon Corp now owns 1,338,493 shares of the real estate investment trust’s stock valued at $6,813,000 after acquiring an additional 172,197 shares during the last quarter. 55.87% of the stock is currently owned by institutional investors.

Ready Capital Stock Performance

Shares of NYSE RC opened at $3.12 on Monday. The company has a market capitalization of $511.89 million, a PE ratio of -1.68 and a beta of 1.45. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.61 and a current ratio of 1.61. The company’s fifty day moving average price is $3.89 and its 200 day moving average price is $4.20. Ready Capital Corp has a 1 year low of $3.05 and a 1 year high of $7.64.

Ready Capital (NYSE:RC) last posted its earnings results on Tuesday, September 9th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter. The firm had revenue of ($9.77) million for the quarter. Ready Capital had a positive return on equity of 3.76% and a negative net margin of 40.59%. On average, research analysts predict that Ready Capital Corp will post 0.93 earnings per share for the current year.

Ready Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.125 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 16.1%. Ready Capital’s dividend payout ratio (DPR) is -27.03%.

Analyst Ratings Changes

Several research firms have issued reports on RC. Wall Street Zen lowered shares of Ready Capital from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. UBS Group decreased their price target on Ready Capital from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Weiss Ratings restated a “sell (d)” rating on shares of Ready Capital in a research note on Saturday. Keefe, Bruyette & Woods cut their target price on Ready Capital from $3.75 to $3.50 and set an “underperform” rating on the stock in a research report on Thursday, October 9th. Finally, B. Riley cut their price target on shares of Ready Capital from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Monday, August 11th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $5.30.

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.