Van ECK Associates Corp Boosts Stake in Ready Capital Co. (NYSE:RC)

Van ECK Associates Corp boosted its position in shares of Ready Capital Co. (NYSE:RCFree Report) by 9.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 906,095 shares of the real estate investment trust’s stock after acquiring an additional 74,714 shares during the period. Van ECK Associates Corp owned 0.53% of Ready Capital worth $9,161,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its position in Ready Capital by 163.7% during the second quarter. Public Employees Retirement System of Ohio now owns 2,289 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 1,421 shares during the last quarter. Carson Advisory Inc. purchased a new position in shares of Ready Capital in the second quarter worth $236,000. FMR LLC raised its holdings in shares of Ready Capital by 37.0% in the first quarter. FMR LLC now owns 4,710 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 1,272 shares during the last quarter. Quarry LP raised its holdings in shares of Ready Capital by 1,028.8% in the first quarter. Quarry LP now owns 5,881 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 5,360 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of Ready Capital by 31.3% in the first quarter. Blair William & Co. IL now owns 7,604 shares of the real estate investment trust’s stock worth $77,000 after buying an additional 1,812 shares during the last quarter. Hedge funds and other institutional investors own 52.07% of the company’s stock.

Ready Capital Trading Up 1.7 %

Shares of Ready Capital stock opened at $9.03 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.83 and a quick ratio of 1.83. The firm has a fifty day moving average price of $10.13 and a 200 day moving average price of $10.31. Ready Capital Co. has a 1 year low of $8.71 and a 1 year high of $13.30. The stock has a market cap of $1.55 billion, a PE ratio of 3.78 and a beta of 1.43.

Ready Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, December 29th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, December 28th. This represents a $1.20 annualized dividend and a dividend yield of 13.29%. Ready Capital’s dividend payout ratio (DPR) is presently 50.21%.

Analysts Set New Price Targets

A number of research analysts have issued reports on RC shares. UBS Group reaffirmed a “neutral” rating and issued a $10.50 price target on shares of Ready Capital in a report on Wednesday, December 6th. Keefe, Bruyette & Woods decreased their price target on shares of Ready Capital from $10.50 to $10.00 and set a “market perform” rating for the company in a report on Tuesday, November 14th. StockNews.com raised shares of Ready Capital from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Wedbush started coverage on shares of Ready Capital in a report on Tuesday, October 17th. They issued a “neutral” rating and a $11.00 price target for the company. Finally, Raymond James cut shares of Ready Capital from an “outperform” rating to a “market perform” rating in a report on Monday, December 18th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $11.86.

Get Our Latest Stock Report on RC

About Ready Capital

(Free Report)

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

Further Reading

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

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