Wellington Management Group LLP Purchases 26,515 Shares of Ready Capital Co. (NYSE:RC)

Wellington Management Group LLP grew its position in Ready Capital Co. (NYSE:RC) by 6.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 428,999 shares of the real estate investment trust’s stock after acquiring an additional 26,515 shares during the quarter. Wellington Management Group LLP owned 0.25% of Ready Capital worth $4,397,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Deutsche Bank AG boosted its stake in Ready Capital by 12.6% during the third quarter. Deutsche Bank AG now owns 80,375 shares of the real estate investment trust’s stock worth $813,000 after buying an additional 8,971 shares in the last quarter. Invesco Ltd. increased its stake in Ready Capital by 4.2% in the third quarter. Invesco Ltd. now owns 1,756,701 shares of the real estate investment trust’s stock valued at $17,760,000 after acquiring an additional 70,476 shares during the period. Northern Trust Corp raised its position in Ready Capital by 0.4% in the third quarter. Northern Trust Corp now owns 2,037,068 shares of the real estate investment trust’s stock worth $20,595,000 after purchasing an additional 7,610 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Ready Capital during the third quarter worth about $411,000. Finally, Natixis Advisors L.P. acquired a new stake in Ready Capital during the third quarter valued at approximately $209,000. Institutional investors and hedge funds own 55.87% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on RC shares. B. Riley restated a “buy” rating and set a $12.00 target price (down previously from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 target price (down previously from $10.00) on shares of Ready Capital in a report on Monday, March 4th. LADENBURG THALM/SH SH cut shares of Ready Capital from a “buy” rating to a “neutral” rating in a research report on Friday, May 10th. UBS Group reduced their price target on shares of Ready Capital from $10.50 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 20th. Finally, BTIG Research dropped their price objective on shares of Ready Capital from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Ready Capital presently has a consensus rating of “Hold” and an average price target of $10.93.

Ready Capital Stock Performance

RC stock opened at $8.18 on Friday. The company has a 50 day moving average price of $8.49 and a 200 day moving average price of $9.09. Ready Capital Co. has a fifty-two week low of $7.93 and a fifty-two week high of $11.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.76. The stock has a market capitalization of $1.38 billion, a PE ratio of 5.08 and a beta of 1.42.

Ready Capital (NYSE:RC) last issued its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The business had revenue of $232.35 million for the quarter, compared to analyst estimates of $64.34 million. Ready Capital had a return on equity of 8.11% and a net margin of 23.81%. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Analysts forecast that Ready Capital Co. will post 1.17 EPS for the current year.

Ready Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 14.67%. The ex-dividend date of this dividend is Friday, June 28th. Ready Capital’s dividend payout ratio (DPR) is 74.53%.

Insider Activity at Ready Capital

In related news, Director Gilbert E. Nathan acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was acquired at an average cost of $8.29 per share, with a total value of $82,900.00. Following the completion of the purchase, the director now directly owns 95,249 shares in the company, valued at $789,614.21. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.09% of the stock is currently owned by company insiders.

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.