Ready Capital Co. (NYSE:RC) Stock Position Boosted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its stake in Ready Capital Co. (NYSE:RC – Get Rating) by 3.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 769,573 shares of the real estate investment trust’s stock after buying an additional 22,562 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Ready Capital were worth $8,573,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RC. BlackRock Inc. grew its position in Ready Capital by 25.5% in the 3rd quarter. BlackRock Inc. now owns 15,476,684 shares of the real estate investment trust’s stock valued at $156,934,000 after buying an additional 3,149,533 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Ready Capital by 17.8% in the 3rd quarter. Vanguard Group Inc. now owns 6,402,647 shares of the real estate investment trust’s stock valued at $64,922,000 after acquiring an additional 967,743 shares during the last quarter. Invesco Ltd. lifted its holdings in Ready Capital by 42.2% in the 1st quarter. Invesco Ltd. now owns 2,603,750 shares of the real estate investment trust’s stock valued at $39,211,000 after acquiring an additional 772,522 shares during the last quarter. State Street Corp lifted its holdings in Ready Capital by 24.4% in the 3rd quarter. State Street Corp now owns 3,329,238 shares of the real estate investment trust’s stock valued at $35,130,000 after acquiring an additional 653,207 shares during the last quarter. Finally, First Trust Advisors LP acquired a new stake in Ready Capital in the 1st quarter valued at about $5,518,000. Institutional investors own 62.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RC shares. Piper Sandler cut their price target on shares of Ready Capital from $13.00 to $12.50 and set a “neutral” rating for the company in a report on Tuesday, February 28th. Keefe, Bruyette & Woods cut their price target on shares of Ready Capital from $12.00 to $10.50 and set a “market perform” rating for the company in a report on Thursday, April 13th. Finally, StockNews.com started coverage on shares of Ready Capital in a report on Thursday. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $13.71.

Ready Capital Trading Down 0.9 %

NYSE:RC opened at $10.72 on Monday. The stock’s 50 day moving average price is $10.18 and its 200 day moving average price is $11.63. Ready Capital Co. has a 52 week low of $9.36 and a 52 week high of $14.79. The company has a market capitalization of $1.19 billion, a P/E ratio of 8.06 and a beta of 1.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.39 and a current ratio of 1.39.

Ready Capital (NYSE:RC – Get Rating) last released its quarterly earnings data on Monday, February 27th. The real estate investment trust reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. Ready Capital had a return on equity of 10.98% and a net margin of 20.57%. The firm had revenue of $249.49 million for the quarter, compared to the consensus estimate of $73.45 million. On average, research analysts forecast that Ready Capital Co. will post 1.5 EPS for the current fiscal year.

Ready Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Tuesday, May 30th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, May 26th. This represents a $0.56 dividend on an annualized basis and a yield of 5.22%. Ready Capital’s dividend payout ratio is currently 120.30%.

Insider Buying and Selling at Ready Capital

In related news, Director Dominique Mielle purchased 7,500 shares of the stock in a transaction on Friday, March 3rd. The shares were bought at an average price of $14.15 per share, for a total transaction of $106,125.00. Following the completion of the acquisition, the director now directly owns 35,988 shares in the company, valued at approximately $509,230.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Dominique Mielle purchased 7,500 shares of the stock in a transaction on Friday, March 3rd. The shares were bought at an average price of $14.15 per share, for a total transaction of $106,125.00. Following the completion of the acquisition, the director now directly owns 35,988 shares in the company, valued at approximately $509,230.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gilbert E. Nathan purchased 5,000 shares of the stock in a transaction on Tuesday, March 7th. The shares were bought at an average price of $10.95 per share, for a total transaction of $54,750.00. Following the acquisition, the director now owns 56,565 shares of the company’s stock, valued at $619,386.75. The disclosure for this purchase can be found here. Corporate insiders own 1.64% of the company’s stock.

Ready Capital Company Profile

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Ready Capital Corp. is a real estate finance company, which engages in acquiring, managing, and financing small balance commercial loans. It operates through the following segments: SBC Lending and Acquisitions, Small Business Lending, and Residential Mortgage Banking. The SBC Lending and Acquisitions segment is involved in the SBC loans across the full life-cycle of an SBC property including construction, bridge, stabilized, and agency loan origination channels through wholly-owned subsidiary, ReadyCap Commercial, LLC.