11,588 Shares in Ready Capital Co. (NYSE:RC) Acquired by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC bought a new position in shares of Ready Capital Co. (NYSE:RC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,588 shares of the real estate investment trust’s stock, valued at approximately $119,000.

A number of other large investors have also recently made changes to their positions in RC. BlackRock Inc. increased its stake in Ready Capital by 75.0% in the second quarter. BlackRock Inc. now owns 27,249,233 shares of the real estate investment trust’s stock valued at $307,371,000 after purchasing an additional 11,675,364 shares during the last quarter. State Street Corp increased its stake in Ready Capital by 66.3% in the second quarter. State Street Corp now owns 5,798,238 shares of the real estate investment trust’s stock valued at $66,212,000 after purchasing an additional 2,312,011 shares during the last quarter. Geode Capital Management LLC increased its stake in Ready Capital by 90.2% in the second quarter. Geode Capital Management LLC now owns 3,129,990 shares of the real estate investment trust’s stock valued at $35,306,000 after purchasing an additional 1,484,317 shares during the last quarter. Ramsey Quantitative Systems purchased a new position in Ready Capital in the third quarter valued at approximately $12,473,000. Finally, Northern Trust Corp increased its stake in Ready Capital by 135.0% in the second quarter. Northern Trust Corp now owns 2,029,458 shares of the real estate investment trust’s stock valued at $22,892,000 after purchasing an additional 1,165,908 shares during the last quarter. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Gilbert E. Nathan purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $8.65 per share, with a total value 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Gilbert E. Nathan purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $8.65 per share, with a total value 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kevin M. Luebbers bought 5,000 shares of Ready Capital stock in a transaction on Tuesday, March 5th. The stock was acquired at an average cost of $8.43 per share, with a total value of $42,150.00. Following the acquisition, the director now owns 119,925 shares of the company’s stock, valued at approximately $1,010,967.75. The disclosure for this purchase can be found here. Insiders purchased a total of 17,150 shares of company stock valued at $148,280 over the last three months. 0.95% of the stock is currently owned by company insiders.

Ready Capital Price Performance

RC stock opened at $8.48 on Friday. 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 business has a 50 day simple moving average of $8.84 and a 200-day simple moving average of $9.62. Ready Capital Co. has a twelve month low of $8.25 and a twelve month high of $11.97. The company has a market capitalization of $1.46 billion, a P/E ratio of 3.62 and a beta of 1.40.

Ready Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors 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 dividend yield of 14.16%. The ex-dividend date is Wednesday, March 27th. Ready Capital’s dividend payout ratio is presently 51.28%.

Analyst Upgrades and Downgrades

RC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 price target (down from $10.00) on shares of Ready Capital in a research note on Monday, March 4th. StockNews.com lowered shares of Ready Capital from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. BTIG Research decreased their price objective on Ready Capital from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday. B. Riley reissued a “buy” rating and issued a $12.00 price objective (down from $13.00) on shares of Ready Capital in a report on Monday, March 4th. Finally, UBS Group decreased their price objective on Ready Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Ready Capital currently has an average rating of “Hold” and a consensus target price of $10.93.

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.