Ausdal Financial Partners Inc. Takes $68,000 Position in Ready Capital Co. (NYSE:RC)

Ausdal Financial Partners Inc. acquired a new position in Ready Capital Co. (NYSE:RC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,000 shares of the real estate investment trust’s stock, valued at approximately $68,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RC. Vanguard Group Inc. lifted its holdings in Ready Capital by 7.3% during the 4th quarter. Vanguard Group Inc. now owns 11,366,828 shares of the real estate investment trust’s stock worth $77,522,000 after buying an additional 768,891 shares during the period. State Street Corp lifted its stake in shares of Ready Capital by 4.8% in the third quarter. State Street Corp now owns 6,315,147 shares of the real estate investment trust’s stock worth $49,746,000 after acquiring an additional 287,068 shares during the period. Geode Capital Management LLC lifted its stake 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 worth $29,292,000 after acquiring an additional 150,479 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Ready Capital by 21.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,266,585 shares of the real estate investment trust’s stock valued at $15,458,000 after acquiring an additional 398,005 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in Ready Capital by 12.8% during the 4th quarter. Van ECK Associates Corp now owns 1,540,765 shares of the real estate investment trust’s stock valued at $10,508,000 after purchasing an additional 174,725 shares during the period. 55.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Citizens Jmp downgraded shares of Ready Capital from an “outperform” rating to a “market perform” rating in a research report on Monday, March 3rd. B. Riley restated a “neutral” rating and issued a $10.00 target price (down previously from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. Wedbush reiterated a “neutral” rating and set a $6.00 price target (down from $8.00) on shares of Ready Capital in a report on Tuesday, March 4th. JMP Securities dropped their price objective on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a research note on Thursday, December 12th. Finally, Keefe, Bruyette & Woods cut their target price on Ready Capital from $6.25 to $4.00 and set an “underperform” rating on the stock in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.50.

Ready Capital Stock Down 1.7 %

Shares of NYSE:RC opened at $4.97 on Friday. The firm has a market cap of $853.13 million, a P/E ratio of -7.09 and a beta of 1.43. Ready Capital Co. has a 52-week low of $4.74 and a 52-week high of $9.54. The business’s 50 day simple moving average is $6.08 and its two-hundred day simple moving average is $6.84. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67.

Ready Capital Cuts Dividend

The firm also recently declared 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 annualized dividend and a yield of 10.07%. The ex-dividend date is Monday, March 31st. Ready Capital’s payout ratio is currently -18.94%.

Insider Buying and Selling at Ready Capital

In related news, insider Adam Zausmer purchased 10,000 shares of the business’s stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $5.42 per share, for a total transaction of $54,200.00. Following the purchase, the insider now owns 301,105 shares of the company’s stock, valued at approximately $1,631,989.10. This trade represents a 3.44 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.09% of the stock is currently owned by company insiders.

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.