Victory Capital Management Inc. Has $521,000 Position in Ready Capital Co. (NYSE:RC)

Victory Capital Management Inc. lifted its position in shares of Ready Capital Co. (NYSE:RC) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,699 shares of the real estate investment trust’s stock after buying an additional 1,375 shares during the period. Victory Capital Management Inc.’s holdings in Ready Capital were worth $521,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of RC. CWM LLC boosted its position 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 worth $27,000 after buying an additional 1,634 shares during the period. EntryPoint Capital LLC acquired a new position in Ready Capital during the first quarter valued at approximately $40,000. MCF Advisors LLC acquired a new position in Ready Capital during the first quarter valued at approximately $42,000. Cadence Bank acquired a new position in Ready Capital during the first quarter valued at approximately $91,000. Finally, Naviter Wealth LLC acquired a new position in Ready Capital during the first quarter valued at approximately $94,000. 55.87% of the stock is owned by institutional investors and hedge funds.

Ready Capital Price Performance

Shares of NYSE RC opened at $7.97 on Monday. The firm has a market cap of $1.34 billion, a P/E ratio of 4.95 and a beta of 1.42. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.52. Ready Capital Co. has a 1-year low of $7.52 and a 1-year high of $11.67. The business’s 50 day moving average is $8.55 and its 200-day moving average is $8.58.

Ready Capital (NYSE:RC) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.19). The firm had revenue of $234.12 million for the quarter, compared to the consensus estimate of $61.77 million. Ready Capital had a positive return on equity of 7.32% and a negative net margin of 5.67%. During the same quarter last year, the business posted $0.35 EPS. Equities research analysts predict that Ready Capital Co. will post 1.02 earnings per share for the current year.

Ready Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 12.55%. Ready Capital’s dividend payout ratio (DPR) is presently 62.11%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RC. Wedbush reissued a “neutral” rating and set a $9.00 price target on shares of Ready Capital in a research report on Monday, August 12th. BTIG Research started coverage on Ready Capital in a research report on Friday, July 19th. They set a “neutral” rating for the company. Keefe, Bruyette & Woods cut their price objective 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. Finally, Piper Sandler cut 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 equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.38.

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.