Thrivent Financial for Lutherans Buys 3,123 Shares of Ready Capital Co. (NYSE:RC)

Thrivent Financial for Lutherans increased its stake in Ready Capital Co. (NYSE:RC) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 132,098 shares of the real estate investment trust’s stock after acquiring an additional 3,123 shares during the period. Thrivent Financial for Lutherans owned about 0.08% of Ready Capital worth $1,008,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RC. HB Wealth Management LLC grew its stake in shares of Ready Capital by 3.4% in the second quarter. HB Wealth Management LLC now owns 33,216 shares of the real estate investment trust’s stock worth $272,000 after purchasing an additional 1,101 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Ready Capital by 2.2% during the second quarter. Victory Capital Management Inc. now owns 63,699 shares of the real estate investment trust’s stock valued at $521,000 after buying an additional 1,375 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of Ready Capital by 12.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 12,970 shares of the real estate investment trust’s stock valued at $118,000 after buying an additional 1,455 shares during the period. CWM LLC raised its holdings in shares of Ready Capital by 94.6% during the second quarter. CWM LLC now owns 3,361 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 1,634 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in Ready Capital by 4.0% in the third quarter. Louisiana State Employees Retirement System now owns 81,300 shares of the real estate investment trust’s stock worth $620,000 after acquiring an additional 3,100 shares during the period. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RC shares. Piper Sandler reduced their price objective on shares of Ready Capital from $9.50 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Keefe, Bruyette & Woods reduced their price target on shares of Ready Capital from $8.00 to $7.75 and set an “underperform” rating on the stock in a research report on Monday, August 12th. Wedbush restated a “neutral” rating and issued a $9.00 price objective on shares of Ready Capital in a report on Monday, August 12th. Finally, UBS Group reduced their target price on Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.04.

Ready Capital Stock Up 2.7 %

RC stock opened at $7.57 on Tuesday. The business has a 50 day moving average of $7.22 and a 200 day moving average of $8.04. The firm has a market cap of $1.28 billion, a PE ratio of -10.81 and a beta of 1.43. Ready Capital Co. has a twelve month low of $6.65 and a twelve month high of $11.67. 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 13.21%. The ex-dividend date of this dividend was Monday, September 30th. Ready Capital’s dividend payout ratio (DPR) is presently -142.86%.

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.