Charles Schwab Investment Management Inc. Has $15.46 Million Position in Ready Capital Co. (NYSE:RC)

Charles Schwab Investment Management Inc. grew its holdings in shares of Ready Capital Co. (NYSE:RC) by 21.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,266,585 shares of the real estate investment trust’s stock after acquiring an additional 398,005 shares during the period. Charles Schwab Investment Management Inc. owned 1.34% of Ready Capital worth $15,458,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. GraniteShares Advisors LLC acquired a new stake in shares of Ready Capital in the 4th quarter valued at about $2,480,000. Barclays PLC grew its stake in shares of Ready Capital by 205.9% in the 3rd quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust’s stock valued at $3,699,000 after buying an additional 326,467 shares during the period. State Street Corp grew its stake in shares of Ready Capital by 4.8% in the 3rd quarter. State Street Corp now owns 6,315,147 shares of the real estate investment trust’s stock valued at $49,746,000 after buying an additional 287,068 shares during the period. SVB Wealth LLC acquired a new stake in shares of Ready Capital in the 4th quarter valued at about $1,684,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Ready Capital by 99.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 399,401 shares of the real estate investment trust’s stock valued at $3,047,000 after buying an additional 199,202 shares during the period. 55.87% of the stock is currently owned by institutional investors and hedge funds.

Ready Capital Price Performance

Ready Capital stock opened at $5.09 on Friday. Ready Capital Co. has a 52 week low of $4.74 and a 52 week high of $9.54. The company’s 50 day moving average price is $6.28 and its two-hundred day moving average price is $6.97. 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 cap of $829.62 million, a P/E ratio of -7.26 and a beta of 1.43.

Ready Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.125 per share. The ex-dividend date is Monday, March 31st. This represents a $0.50 annualized dividend and a dividend yield of 9.83%. Ready Capital’s dividend payout ratio is currently -18.94%.

Wall Street Analyst Weigh In

RC has been the topic of several recent research reports. JMP Securities dropped their price target on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a research report on Thursday, December 12th. B. Riley reaffirmed a “neutral” rating and issued a $10.00 price target (down previously from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. UBS Group dropped their price target on shares of Ready Capital from $7.00 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Wedbush reaffirmed a “neutral” rating and issued a $6.00 price target (down previously from $8.00) on shares of Ready Capital in a research report on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Ready Capital from $6.25 to $4.00 and set an “underperform” rating on the stock in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.50.

Insiders Place Their Bets

In related news, insider Adam Zausmer purchased 10,000 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $5.42 per share, with a total value of $54,200.00. Following the acquisition, the insider now owns 301,105 shares of the company’s stock, valued at $1,631,989.10. This trade represents a 3.44 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.09% of the company’s stock.

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.