Swiss National Bank Has $2.77 Million Stake in Ready Capital Co. (NYSE:RC)

Swiss National Bank lifted its stake in shares of Ready Capital Co. (NYSE:RC – Get Rating) by 46.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 248,645 shares of the real estate investment trust’s stock after buying an additional 79,100 shares during the quarter. Swiss National Bank’s holdings in Ready Capital were worth $2,770,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings 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 purchasing an additional 3,149,533 shares during the period. Vanguard Group Inc. grew its position 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 purchasing an additional 967,743 shares during the period. State Street Corp grew its position 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 purchasing an additional 653,207 shares during the period. Invesco Ltd. grew its position 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 purchasing an additional 772,522 shares during the period. Finally, Northern Trust Corp grew its position in Ready Capital by 11.5% in the 2nd quarter. Northern Trust Corp now owns 1,236,399 shares of the real estate investment trust’s stock valued at $14,738,000 after purchasing an additional 127,069 shares during the period. Institutional investors and hedge funds own 62.84% of the company’s stock.

Ready Capital Trading Up 0.3 %

Shares of RC opened at $10.86 on Wednesday. The business has a 50-day moving average of $10.21 and a 200 day moving average of $11.62. Ready Capital Co. has a fifty-two week low of $9.36 and a fifty-two week high of $14.79. The firm has a market cap of $1.20 billion, a P/E ratio of 8.17 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 announced its quarterly earnings data on Monday, February 27th. The real estate investment trust reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. Ready Capital had a return on equity of 10.98% and a net margin of 20.57%. The company had revenue of $249.49 million during the quarter, compared to analyst estimates of $73.45 million. As a group, research analysts forecast that Ready Capital Co. will post 1.5 EPS for the current 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. This represents a $0.56 annualized dividend and a yield of 5.16%. The ex-dividend date is Friday, May 26th. Ready Capital’s dividend payout ratio (DPR) is currently 120.30%.

Analyst Ratings Changes

RC has been the subject of several research reports. StockNews.com initiated coverage on shares of Ready Capital in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Piper Sandler dropped their price objective on Ready Capital from $13.00 to $12.50 and set a “neutral” rating on the stock in a research note on Tuesday, February 28th. Finally, Keefe, Bruyette & Woods lowered their target price on Ready Capital from $12.00 to $10.50 and set a “market perform” rating on the stock in a research note on Thursday, April 13th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $13.71.

Insider Buying and Selling

In other news, Director Gilbert E. Nathan acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The stock was bought at an average price of $10.95 per share, with a total value of $54,750.00. Following the acquisition, the director now owns 56,565 shares in the company, valued at approximately $619,386.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Dominique Mielle bought 7,500 shares of Ready Capital stock in a transaction on Friday, March 3rd. The stock was acquired at an average price of $14.15 per share, with a total value of $106,125.00. Following the acquisition, the director now directly owns 35,988 shares of the company’s stock, valued at $509,230.20. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gilbert E. Nathan bought 5,000 shares of Ready Capital stock in a transaction on Tuesday, March 7th. The shares were bought at an average cost of $10.95 per share, with a total value of $54,750.00. Following the acquisition, the director now directly owns 56,565 shares in the company, valued at $619,386.75. The disclosure for this purchase can be found here. 1.64% of the stock is currently owned by insiders.

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.