KBC Group NV Has $63,000 Stock Position in Ready Capital Co. (NYSE:RC)

KBC Group NV raised its position in Ready Capital Co. (NYSE:RC) by 64.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,318 shares of the real estate investment trust’s stock after buying an additional 3,248 shares during the period. KBC Group NV’s holdings in Ready Capital were worth $63,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its stake in Ready Capital by 7.4% in the first quarter. ProShare Advisors LLC now owns 32,261 shares of the real estate investment trust’s stock worth $295,000 after purchasing an additional 2,209 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Ready Capital by 42.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 179,273 shares of the real estate investment trust’s stock worth $1,639,000 after buying an additional 53,328 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Ready Capital during the 1st quarter worth about $40,000. Price T Rowe Associates Inc. MD increased its position in Ready Capital by 6.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 98,156 shares of the real estate investment trust’s stock valued at $897,000 after acquiring an additional 5,874 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Ready Capital by 131.0% in the first quarter. Janus Henderson Group PLC now owns 168,496 shares of the real estate investment trust’s stock worth $1,539,000 after acquiring an additional 95,562 shares during the last quarter. 55.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RC shares. UBS Group decreased their price target on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Keefe, Bruyette & Woods lowered their target price on Ready Capital from $8.00 to $7.75 and set an “underperform” rating for the company in a research note on Monday, August 12th. Wedbush reaffirmed a “neutral” rating and set a $9.00 price target on shares of Ready Capital in a research note on Monday, August 12th. Finally, Piper Sandler lowered their price objective on Ready Capital from $9.50 to $8.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Ready Capital has an average rating of “Hold” and a consensus target price of $9.04.

Ready Capital Stock Performance

RC stock opened at $7.39 on Friday. 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 Co. has a twelve month low of $6.65 and a twelve month high of $11.67. The business’s fifty day moving average is $7.29 and its 200-day moving average is $8.09. The company has a market cap of $1.25 billion, a P/E ratio of -10.56 and a beta of 1.42.

Ready Capital Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 13.53%. The ex-dividend date was Monday, September 30th. Ready Capital’s dividend payout ratio (DPR) is currently -142.86%.

About Ready Capital

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.