10,114 Shares in Ready Capital Co. (NYSE:RC) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new stake in shares of Ready Capital Co. (NYSE:RC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 10,114 shares of the real estate investment trust’s stock, valued at approximately $69,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp increased its position in shares of Ready Capital by 4.8% during 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 purchasing an additional 287,068 shares during the last quarter. Geode Capital Management LLC boosted its stake in Ready Capital by 4.1% in the third quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust’s stock worth $29,292,000 after buying an additional 150,479 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Ready Capital by 11.7% during 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. Van ECK Associates Corp raised its stake in shares of Ready Capital by 12.8% during the fourth quarter. Van ECK Associates Corp now owns 1,540,765 shares of the real estate investment trust’s stock worth $10,508,000 after acquiring an additional 174,725 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Ready Capital by 7.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,166,296 shares of the real estate investment trust’s stock worth $7,954,000 after acquiring an additional 76,788 shares during the last quarter. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Insider Activity at Ready Capital

In related news, CEO Thomas E. Capasse purchased 10,000 shares of Ready Capital stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $4.80 per share, for a total transaction of $48,000.00. Following the completion of the transaction, the chief executive officer now directly owns 319,925 shares of the company’s stock, valued at $1,535,640. This represents a 3.23 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.09% of the stock is owned by corporate insiders.

Ready Capital Stock Up 0.1 %

Shares of NYSE:RC opened at $5.08 on Friday. The stock’s 50-day moving average is $6.50 and its 200 day moving average is $7.09. The company has a market cap of $827.99 million, a PE ratio of -7.25 and a beta of 1.43. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67. Ready Capital Co. has a 1 year low of $4.74 and a 1 year high of $9.53.

Ready Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid 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 9.85%. Ready Capital’s dividend payout ratio (DPR) is presently -18.94%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RC shares. Citizens Jmp lowered shares of Ready Capital from an “outperform” rating to a “market perform” rating in a report on Monday, March 3rd. B. Riley reaffirmed a “neutral” rating and set a $10.00 price objective (down from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods lowered their target price on Ready Capital from $6.25 to $4.00 and set an “underperform” rating for the company in a research note on Wednesday, March 5th. JMP Securities dropped their target price on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a report on Thursday, December 12th. Finally, UBS Group decreased their price target on Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.86.

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.