Ready Capital Co. (NYSE:RC) Director Buys $86,500.00 in Stock

Ready Capital Co. (NYSE:RCGet Free Report) Director Gilbert E. Nathan acquired 10,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $8.65 per share, for a total transaction of $86,500.00. Following the completion of the acquisition, the director now directly owns 83,099 shares in the company, valued at $718,806.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Ready Capital Price Performance

NYSE RC opened at $8.92 on Wednesday. The company has a market cap of $1.54 billion, a PE ratio of 3.81 and a beta of 1.40. Ready Capital Co. has a 52 week low of $8.30 and a 52 week high of $11.97. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.44. The firm’s 50-day simple moving average is $9.22 and its two-hundred day simple moving average is $9.91.

Ready Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 13.45%. The ex-dividend date is Wednesday, March 27th. Ready Capital’s dividend payout ratio (DPR) is presently 51.28%.

Institutional Investors Weigh In On Ready Capital

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Ready Capital by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 11,163,763 shares of the real estate investment trust’s stock valued at $114,429,000 after buying an additional 735,949 shares during the period. Wellington Management Group LLP increased its position in shares of Ready Capital by 6.6% during the fourth quarter. Wellington Management Group LLP now owns 428,999 shares of the real estate investment trust’s stock valued at $4,397,000 after buying an additional 26,515 shares during the period. Centaurus Financial Inc. bought a new stake in shares of Ready Capital during the fourth quarter valued at about $111,000. Virtu Financial LLC bought a new stake in shares of Ready Capital during the fourth quarter valued at about $327,000. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of Ready Capital by 4.4% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 52,701 shares of the real estate investment trust’s stock valued at $540,000 after buying an additional 2,200 shares during the period. 52.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on RC. UBS Group reaffirmed a “neutral” rating and set a $10.50 price objective on shares of Ready Capital in a report on Wednesday, December 6th. B. Riley reissued a “buy” rating and issued a $12.00 price target (down from $13.00) on shares of Ready Capital in a report on Monday, March 4th. StockNews.com downgraded shares of Ready Capital from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 price target (down from $10.00) on shares of Ready Capital in a report on Monday, March 4th. Finally, Raymond James downgraded shares of Ready Capital from an “outperform” rating to a “market perform” rating in a report on Monday, December 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $11.25.

View Our Latest Stock Report on Ready Capital

Ready Capital Company Profile

(Get Free Report)

Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments.

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