Rhumbline Advisers Acquires 5,616 Shares of Ready Capital Co. (NYSE:RC)

Rhumbline Advisers lifted its holdings in shares of Ready Capital Co. (NYSE:RC) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 503,530 shares of the real estate investment trust’s stock after purchasing an additional 5,616 shares during the period. Rhumbline Advisers owned 0.30% of Ready Capital worth $3,434,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wolverine Asset Management LLC boosted its holdings in shares of Ready Capital by 2,902.2% during the 3rd quarter. Wolverine Asset Management LLC now owns 402,291 shares of the real estate investment trust’s stock worth $3,069,000 after buying an additional 388,891 shares in the last quarter. Barclays PLC lifted its position in shares of Ready Capital by 205.9% during the 3rd quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust’s stock valued at $3,699,000 after acquiring an additional 326,467 shares during the period. State Street Corp boosted its stake in Ready Capital by 4.8% during the third quarter. State Street Corp now owns 6,315,147 shares of the real estate investment trust’s stock worth $49,746,000 after acquiring an additional 287,068 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Ready Capital by 99.5% in the third quarter. Advisors Asset Management Inc. now owns 399,401 shares of the real estate investment trust’s stock worth $3,047,000 after purchasing an additional 199,202 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake 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 purchasing an additional 195,663 shares in the last quarter. Institutional investors and hedge funds own 55.87% of the company’s stock.

Ready Capital Trading Up 2.1 %

NYSE RC opened at $6.95 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $6.83 and a 200 day simple moving average of $7.29. Ready Capital Co. has a 12 month low of $6.39 and a 12 month high of $9.53. The firm has a market capitalization of $1.17 billion, a P/E ratio of -9.92 and a beta of 1.43.

Ready Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.40%. The ex-dividend date of this dividend was Tuesday, December 31st. Ready Capital’s payout ratio is currently -142.86%.

Analysts Set New Price Targets

Several analysts have recently commented on RC shares. JMP Securities reduced their target price on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research note on Thursday, December 12th. UBS Group decreased their price objective on Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Friday, November 15th. Keefe, Bruyette & Woods cut their target price on Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a report on Tuesday, January 14th. Finally, B. Riley reissued 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ready Capital currently has a consensus rating of “Hold” and a consensus price target of $8.61.

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.