US Bancorp DE Acquires 6,193 Shares of Ready Capital Co. (NYSE:RC)

US Bancorp DE lifted its holdings in shares of Ready Capital Co. (NYSE:RCGet Rating) by 575.6% during the 2nd quarter, Holdings Channel reports. The firm owned 7,269 shares of the real estate investment trust’s stock after purchasing an additional 6,193 shares during the period. US Bancorp DE’s holdings in Ready Capital were worth $87,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Oregon Public Employees Retirement Fund increased its holdings in Ready Capital by 12.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,450 shares of the real estate investment trust’s stock valued at $383,000 after buying an additional 2,800 shares during the period. Mutual Advisors LLC lifted its stake in Ready Capital by 19.3% during the first quarter. Mutual Advisors LLC now owns 15,607 shares of the real estate investment trust’s stock worth $235,000 after purchasing an additional 2,523 shares during the last quarter. Orin Green Financial LLC bought a new stake in shares of Ready Capital during the 2nd quarter worth $802,000. Comerica Bank grew its position in Ready Capital by 14.4% in the first quarter. Comerica Bank now owns 57,526 shares of the real estate investment trust’s stock valued at $861,000 after acquiring an additional 7,221 shares during the last quarter. Finally, Mission Wealth Management LP bought a new position in shares of Ready Capital in the second quarter worth about $21,215,000. 56.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RC has been the topic of several research reports. B. Riley decreased their price target on shares of Ready Capital from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, September 8th. JMP Securities cut their price objective on Ready Capital from $18.00 to $16.00 and set a “market outperform” rating on the stock in a report on Wednesday, August 31st. TheStreet downgraded Ready Capital from a “b-” rating to a “c+” rating in a research report on Thursday, October 6th. UBS Group started coverage on Ready Capital in a report on Thursday, October 20th. They set a “neutral” rating and a $11.00 price target on the stock. Finally, StockNews.com lowered shares of Ready Capital from a “hold” rating to a “sell” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $13.75.

Insider Transactions at Ready Capital

In other news, CFO Andrew Ahlborn sold 3,035 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $13.80, for a total value of $41,883.00. Following the transaction, the chief financial officer now directly owns 51,430 shares of the company’s stock, valued at approximately $709,734. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.64% of the company’s stock.

Ready Capital Trading Down 1.6 %

Shares of RC stock opened at $12.39 on Thursday. The stock has a 50-day moving average of $11.67 and a 200-day moving average of $12.88. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.55. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 5.41 and a beta of 1.24. Ready Capital Co. has a 1-year low of $9.69 and a 1-year high of $16.56.

Ready Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Friday, September 30th were issued a dividend of $0.42 per share. The ex-dividend date was Thursday, September 29th. This represents a $1.68 annualized dividend and a yield of 13.56%. Ready Capital’s payout ratio is 73.36%.

Ready Capital Company Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Ready Capital (NYSE:RC)

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