Ready Capital Co. (NYSE:RC) Insider Adam Zausmer Acquires 10,000 Shares

Ready Capital Co. (NYSE:RC) insider Adam Zausmer acquired 10,000 shares of the stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $5.42 per share, for a total transaction of $54,200.00. Following the transaction, the insider now owns 301,105 shares in the company, valued at approximately $1,631,989.10. This represents a 3.44 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Ready Capital Price Performance

Shares of NYSE:RC opened at $5.13 on Tuesday. The stock has a market cap of $836.15 million, a PE ratio of -7.32 and a beta of 1.43. The company’s fifty day moving average is $6.60 and its 200 day moving average is $7.15. Ready Capital Co. has a 52 week low of $4.74 and a 52 week high of $9.53. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54.

Ready Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 9.76%. The ex-dividend date is Monday, March 31st. Ready Capital’s payout ratio is presently -18.94%.

Hedge Funds Weigh In On Ready Capital

Hedge funds have recently modified their holdings of the company. Barclays PLC increased its position in shares of Ready Capital by 205.9% in the third quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust’s stock valued at $3,699,000 after acquiring an additional 326,467 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Ready Capital by 11.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,580 shares of the real estate investment trust’s stock valued at $14,257,000 after acquiring an additional 195,663 shares during the period. JPMorgan Chase & Co. increased its position in shares of Ready Capital by 50.5% in the third quarter. JPMorgan Chase & Co. now owns 336,773 shares of the real estate investment trust’s stock valued at $2,570,000 after acquiring an additional 112,934 shares during the period. GraniteShares Advisors LLC purchased a new position in shares of Ready Capital in the fourth quarter valued at about $2,480,000. Finally, Geode Capital Management LLC increased its position in shares of Ready Capital by 4.1% in the third quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust’s stock valued at $29,292,000 after acquiring an additional 150,479 shares during the period. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. UBS Group lowered their price objective on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Citizens Jmp cut shares of Ready Capital from an “outperform” rating to a “market perform” rating in a research report on Monday, March 3rd. Keefe, Bruyette & Woods lowered their price objective on shares of Ready Capital from $6.25 to $4.00 and set an “underperform” rating on the stock in a research report on Wednesday, March 5th. JMP Securities lowered their price objective on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a research report on Thursday, December 12th. Finally, B. Riley restated a “neutral” rating and set a $10.00 price objective (down previously from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Ready Capital has a consensus rating of “Hold” and a consensus price target of $7.86.

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.