GSA Capital Partners LLP Acquires New Stake in Ready Capital Corp $RC

GSA Capital Partners LLP acquired a new stake in Ready Capital Corp (NYSE:RC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 488,886 shares of the real estate investment trust’s stock, valued at approximately $856,000. GSA Capital Partners LLP owned approximately 0.30% of Ready Capital as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Management Group Inc. raised its position in shares of Ready Capital by 197.0% in the fourth quarter. Private Management Group Inc. now owns 4,806,088 shares of the real estate investment trust’s stock valued at $10,477,000 after buying an additional 3,188,135 shares during the last quarter. UBS Group AG lifted its stake in shares of Ready Capital by 161.4% in the fourth quarter. UBS Group AG now owns 3,155,403 shares of the real estate investment trust’s stock worth $6,879,000 after buying an additional 1,948,208 shares in the last quarter. Marshall Wace LLP acquired a new position in Ready Capital during the second quarter worth about $6,542,000. Invesco Ltd. boosted its position in Ready Capital by 21.2% during the third quarter. Invesco Ltd. now owns 4,239,678 shares of the real estate investment trust’s stock worth $16,408,000 after acquiring an additional 742,226 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Ready Capital by 116.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 771,379 shares of the real estate investment trust’s stock valued at $1,682,000 after acquiring an additional 415,054 shares in the last quarter. Institutional investors and hedge funds own 55.87% of the company’s stock.

Ready Capital Price Performance

Ready Capital stock opened at $1.70 on Wednesday. The company’s 50 day simple moving average is $1.65 and its 200-day simple moving average is $1.74. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.91 and a current ratio of 1.91. Ready Capital Corp has a 1 year low of $1.39 and a 1 year high of $4.46. The company has a market capitalization of $280.00 million, a price-to-earnings ratio of -0.49 and a beta of 1.45.

Ready Capital (NYSE:RC) last posted its quarterly earnings data on Thursday, August 6th. The real estate investment trust reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.01. Ready Capital had a negative net margin of 131.76% and a negative return on equity of 16.78%. The firm had revenue of $151.87 million during the quarter, compared to analysts’ expectations of $16.41 million. As a group, equities research analysts expect that Ready Capital Corp will post -0.99 earnings per share for the current year.

Ready Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, June 30th. Ready Capital’s dividend payout ratio (DPR) is currently -1.15%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. UBS Group cut their price objective on shares of Ready Capital from $2.50 to $2.00 and set a “neutral” rating for the company in a report on Thursday, July 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Ready Capital in a report on Tuesday, June 2nd. Finally, Zacks Research upgraded Ready Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $2.17.

Ready Capital Profile

Ready Capital Corporation is a specialty finance real estate investment trust (REIT) that originates, acquires and manages commercial real estate loans and related assets. The company offers financing solutions across a variety of property types, including multifamily, office, retail, industrial, hospitality and mixed-use assets. Ready Capital focuses on delivering flexible loan structures to meet the diverse needs of borrowers in the small balance and middle-market sectors.

Through its small balance commercial real estate lending platform, Ready Capital provides loans typically ranging from $1 million to $15 million for acquisitions, refinancings, renovations and bridge financing.