Ready Capital Co. (NYSE:RC) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Ready Capital Co. (NYSE:RC) by 12.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,682 shares of the real estate investment trust’s stock after purchasing an additional 4,729 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ready Capital were worth $326,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. BNP Paribas Financial Markets boosted its position in shares of Ready Capital by 198.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 97,837 shares of the real estate investment trust’s stock valued at $746,000 after acquiring an additional 65,098 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Ready Capital in the 3rd quarter valued at approximately $1,005,000. Fisher Asset Management LLC acquired a new stake in shares of Ready Capital during the 3rd quarter worth approximately $116,000. Penserra Capital Management LLC raised its position in shares of Ready Capital by 22.9% during the 3rd quarter. Penserra Capital Management LLC now owns 117,132 shares of the real estate investment trust’s stock valued at $893,000 after buying an additional 21,855 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Ready Capital by 11.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,580 shares of the real estate investment trust’s stock valued at $14,257,000 after acquiring an additional 195,663 shares during the last quarter. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RC has been the subject of several recent analyst reports. Piper Sandler cut their target price on Ready Capital from $9.50 to $8.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Keefe, Bruyette & Woods reduced their price objective on shares of Ready Capital from $8.00 to $7.75 and set an “underperform” rating on the stock in a 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 for the company in a research note on Friday, November 15th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $9.00 price objective on shares of Ready Capital in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $9.04.

Ready Capital Trading Up 1.0 %

NYSE RC opened at $7.39 on Monday. Ready Capital Co. has a 52 week low of $6.65 and a 52 week high of $11.67. The firm has a 50 day moving average of $7.18 and a two-hundred day moving average of $8.00. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $1.25 billion, a PE ratio of -10.56 and a beta of 1.43.

Ready Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 13.53%. The ex-dividend date of this dividend was Monday, September 30th. Ready Capital’s payout ratio is -142.86%.

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.