Ready Capital Corp $RC Shares Acquired by Graham Capital Management L.P.

Graham Capital Management L.P. grew its position in Ready Capital Corp (NYSE:RC) by 79.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 214,903 shares of the real estate investment trust’s stock after buying an additional 95,087 shares during the quarter. Graham Capital Management L.P. owned 0.12% of Ready Capital worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Larson Financial Group LLC acquired a new stake in shares of Ready Capital in the first quarter valued at $27,000. US Bancorp DE grew its stake in shares of Ready Capital by 404.7% in the first quarter. US Bancorp DE now owns 6,021 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 4,828 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Ready Capital in the first quarter valued at $32,000. IFP Advisors Inc grew its stake in shares of Ready Capital by 1,410.5% in the first quarter. IFP Advisors Inc now owns 7,326 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 6,841 shares in the last quarter. Finally, Bfsg LLC acquired a new stake in shares of Ready Capital in the first quarter valued at $52,000. 55.87% of the stock is owned by institutional investors and hedge funds.

Ready Capital Trading Down 0.8%

NYSE:RC opened at $4.24 on Thursday. The stock has a 50-day simple moving average of $4.25 and a 200-day simple moving average of $4.63. The stock has a market cap of $695.94 million, a P/E ratio of -2.29 and a beta of 1.38. Ready Capital Corp has a 1 year low of $3.70 and a 1 year high of $8.41. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.61 and a current ratio of 1.61.

Ready Capital (NYSE:RC) last released its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.13). The business had revenue of ($9.77) million for the quarter, compared to analyst estimates of $167.26 million. Ready Capital had a positive return on equity of 3.76% and a negative net margin of 40.59%. As a group, analysts anticipate that Ready Capital Corp will post 0.93 earnings per share for the current fiscal year.

Ready Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 11.8%. The ex-dividend date of this dividend was Monday, June 30th. Ready Capital’s dividend payout ratio is currently -27.03%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RC shares. Keefe, Bruyette & Woods dropped their price objective on Ready Capital from $4.25 to $3.75 and set an “underperform” rating for the company in a research note on Tuesday, August 12th. Wall Street Zen cut Ready Capital from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. B. Riley dropped their price objective on Ready Capital from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Monday, August 11th. Finally, UBS Group lowered their target price on Ready Capital from $4.50 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.88.

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.