Charles Schwab Investment Management Inc. Has $14.26 Million Stock Holdings in Ready Capital Co. (NYSE:RC)

Charles Schwab Investment Management Inc. lifted its stake in shares of Ready Capital Co. (NYSE:RC) by 11.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,868,580 shares of the real estate investment trust’s stock after purchasing an additional 195,663 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.11% of Ready Capital worth $14,257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of RC. Clear Harbor Asset Management LLC lifted its stake in shares of Ready Capital by 84.0% in the third quarter. Clear Harbor Asset Management LLC now owns 1,440,250 shares of the real estate investment trust’s stock worth $10,989,000 after acquiring an additional 657,465 shares during the period. Wolverine Asset Management LLC increased its position in shares of Ready Capital by 2,902.2% during the third quarter. Wolverine Asset Management LLC now owns 402,291 shares of the real estate investment trust’s stock worth $3,069,000 after acquiring an additional 388,891 shares in the last quarter. TrueMark Investments LLC bought a new position in Ready Capital during the 2nd quarter valued at $3,082,000. Van ECK Associates Corp grew its position in Ready Capital by 29.4% in the 2nd quarter. Van ECK Associates Corp now owns 1,342,070 shares of the real estate investment trust’s stock worth $10,978,000 after purchasing an additional 304,750 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Ready Capital by 99.5% during the third quarter. Advisors Asset Management Inc. now owns 399,401 shares of the real estate investment trust’s stock valued at $3,047,000 after acquiring an additional 199,202 shares during the last quarter. 55.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on RC. Keefe, Bruyette & Woods decreased their target price on Ready Capital from $8.00 to $7.75 and set an “underperform” rating for the company in a research report on Monday, August 12th. UBS Group lowered their target price 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. Wedbush reaffirmed a “neutral” rating and set a $9.00 price objective on shares of Ready Capital in a report on Monday, August 12th. Finally, Piper Sandler decreased their price target on shares of Ready Capital from $9.50 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. 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 company’s stock. According to MarketBeat, Ready Capital currently has a consensus rating of “Hold” and an average price target of $9.04.

Ready Capital Price Performance

RC opened at $7.39 on Monday. 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 Co. has a 52-week low of $6.65 and a 52-week high of $11.67. The stock has a market capitalization of $1.25 billion, a PE ratio of -10.56 and a beta of 1.43. The stock’s 50 day moving average price is $7.18 and its 200-day moving average price is $8.00.

Ready Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 annualized dividend and a yield of 13.53%. 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.