Mutual Advisors LLC Reduces Stock Position in Ready Capital Corp $RC

Mutual Advisors LLC reduced its holdings in shares of Ready Capital Corp (NYSE:RC) by 37.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 45,608 shares of the real estate investment trust’s stock after selling 26,862 shares during the quarter. Mutual Advisors LLC’s holdings in Ready Capital were worth $204,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Illinois Municipal Retirement Fund increased its holdings in shares of Ready Capital by 27.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 116,462 shares of the real estate investment trust’s stock worth $593,000 after buying an additional 25,198 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Ready Capital by 40.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 79,072 shares of the real estate investment trust’s stock valued at $402,000 after buying an additional 22,797 shares during the period. Wolverine Asset Management LLC boosted its position in Ready Capital by 152.5% during the 1st quarter. Wolverine Asset Management LLC now owns 555,556 shares of the real estate investment trust’s stock valued at $2,828,000 after buying an additional 335,502 shares during the period. Nexpoint Asset Management L.P. purchased a new stake in shares of Ready Capital in the 1st quarter worth about $4,444,000. Finally, Public Sector Pension Investment Board lifted its position in shares of Ready Capital by 26.9% in the 1st quarter. Public Sector Pension Investment Board now owns 534,474 shares of the real estate investment trust’s stock worth $2,720,000 after purchasing an additional 113,160 shares during the period. Institutional investors own 55.87% of the company’s stock.

Ready Capital Stock Down 0.8%

NYSE:RC opened at $3.13 on Thursday. The company’s 50-day simple moving average is $3.91 and its 200-day simple moving average is $4.22. The stock has a market capitalization of $513.53 million, a P/E ratio of -1.69 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. Ready Capital Corp has a fifty-two week low of $3.09 and a fifty-two week high of $7.64.

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

Ready Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 16.0%. The ex-dividend date is Tuesday, September 30th. Ready Capital’s payout ratio is presently -27.03%.

Analyst Ratings Changes

Several brokerages have issued reports on RC. Wall Street Zen cut shares of Ready Capital from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. 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 shares of Ready Capital from $4.00 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ready Capital in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Ready Capital from $3.75 to $3.50 and set an “underperform” rating for the company in a research report on Thursday, October 9th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Ready Capital currently has a consensus rating of “Reduce” and an average target price 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.