Mutual of America Capital Management LLC Buys 1,643 Shares of Ready Capital Co. (NYSE:RC)

Posted by MarketBeat News on Aug 3rd, 2022

Mutual of America Capital Management LLC raised its stake in shares of Ready Capital Co. (NYSE:RC – Get Rating) by 20.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,687 shares of the real estate investment trust’s stock after acquiring an additional 1,643 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Ready Capital were worth $146,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RC. Allspring Global Investments Holdings LLC bought a new position in shares of Ready Capital during the fourth quarter valued at $1,233,000. Yousif Capital Management LLC acquired a new stake in shares of Ready Capital in the fourth quarter valued at $826,000. Qube Research & Technologies Ltd acquired a new stake in shares of Ready Capital in the fourth quarter valued at $723,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ready Capital by 160.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,548 shares of the real estate investment trust’s stock valued at $212,000 after buying an additional 8,338 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Ready Capital by 0.7% in the fourth quarter. Northern Trust Corp now owns 1,079,840 shares of the real estate investment trust’s stock valued at $16,878,000 after buying an additional 7,673 shares in the last quarter. 41.03% of the stock is owned by institutional investors.

Ready Capital Price Performance

Shares of RC stock opened at $13.49 on Wednesday. The stock has a 50-day moving average price of $12.99 and a 200 day moving average price of $14.17. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 5.81 and a beta of 1.13. Ready Capital Co. has a 12 month low of $11.05 and a 12 month high of $16.56.

Ready Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Thursday, June 30th were given a $0.42 dividend. The ex-dividend date was Wednesday, June 29th. This represents a $1.68 dividend on an annualized basis and a yield of 12.45%. Ready Capital’s payout ratio is 72.41%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered their target price on Ready Capital from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, June 28th.

Ready Capital Profile

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Ready Capital Corporation operates as a real estate finance company in the United States. The company acquires, originates, manages, services, and finances small to medium balance commercial (SBC) loans, small business administration (SBA) loans, residential mortgage loans, and mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.