Gilbert E. Nathan Acquires 2,150 Shares of Ready Capital Co. (NYSE:RC) Stock

Ready Capital Co. (NYSE:RC) Director Gilbert E. Nathan purchased 2,150 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was bought at an average cost of $9.13 per share, with a total value of $19,629.50. Following the completion of the purchase, the director now owns 85,249 shares of the company’s stock, valued at $778,323.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Ready Capital Trading Up 2.2 %

Shares of RC stock opened at $8.93 on Thursday. Ready Capital Co. has a 12-month low of $8.30 and a 12-month high of $11.97. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $9.11 and its 200 day moving average is $9.84. The stock has a market capitalization of $1.54 billion, a P/E ratio of 3.82 and a beta of 1.40.

Ready Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 13.44%. The ex-dividend date is Wednesday, March 27th. Ready Capital’s dividend payout ratio is currently 51.28%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RC shares. StockNews.com downgraded shares of Ready Capital from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. UBS Group cut their price objective on shares of Ready Capital from $10.50 to $9.50 and set a “neutral” rating on the stock in a report on Wednesday, March 20th. Raymond James cut shares of Ready Capital from an “outperform” rating to a “market perform” rating in a report on Monday, December 18th. B. Riley reiterated a “buy” rating and set a $12.00 price target (down previously from $13.00) on shares of Ready Capital in a report on Monday, March 4th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $8.00 price target (down previously from $10.00) on shares of Ready Capital in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Ready Capital presently has an average rating of “Hold” and an average target price of $11.08.

Institutional Investors Weigh In On Ready Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its position in Ready Capital by 163.7% in the second quarter. Public Employees Retirement System of Ohio now owns 2,289 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 1,421 shares during the period. Bear Mountain Capital Inc. bought a new stake in shares of Ready Capital during the 4th quarter valued at $30,000. EdgeRock Capital LLC bought a new stake in shares of Ready Capital during the 4th quarter valued at $36,000. FMR LLC raised its position in shares of Ready Capital by 37.0% during the 1st quarter. FMR LLC now owns 4,710 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,272 shares during the period. Finally, Quarry LP raised its position in shares of Ready Capital by 1,028.8% during the 1st quarter. Quarry LP now owns 5,881 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 5,360 shares during the period. Hedge funds and other institutional investors own 55.87% of the company’s stock.

About Ready Capital

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.