Ready Capital Corp $RC Shares Acquired by Odyssean LLC

Odyssean LLC increased its stake in shares of Ready Capital Corp (NYSE:RC) by 362.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 349,648 shares of the real estate investment trust’s stock after purchasing an additional 274,118 shares during the quarter. Odyssean LLC owned approximately 0.21% of Ready Capital worth $612,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Focus Partners Advisor Solutions LLC purchased a new position in shares of Ready Capital during the second quarter valued at approximately $26,000. Sequoia Financial Advisors LLC purchased a new stake in Ready Capital in the 4th quarter worth approximately $27,000. Eurizon Capital SGR S.p.A. acquired a new position in Ready Capital in the 4th quarter valued at $28,000. HBK Sorce Advisory LLC acquired a new position in Ready Capital in the 2nd quarter valued at $30,000. Finally, Green Ridge Wealth Planning LLC acquired a new position in Ready Capital in the 4th quarter valued at $32,000. 55.87% of the stock is owned by institutional investors and hedge funds.

Ready Capital Price Performance

Ready Capital stock opened at $1.84 on Thursday. Ready Capital Corp has a 1 year low of $1.39 and a 1 year high of $4.46. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.91 and a current ratio of 1.91. The firm has a 50 day moving average price of $1.67 and a 200 day moving average price of $1.73. The company has a market cap of $304.78 million, a price-to-earnings ratio of -0.53 and a beta of 1.45.

Ready Capital (NYSE:RC) last posted its quarterly earnings results 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 company had revenue of $151.87 million for the quarter, compared to the consensus estimate of $16.41 million. Sell-side analysts predict that Ready Capital Corp will post -0.99 earnings per share for the current year.

Ready Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, June 30th. Ready Capital’s dividend payout ratio (DPR) is -1.15%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RC. Zacks Research upgraded Ready Capital from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. UBS Group dropped their target price on Ready Capital from $2.50 to $2.00 and set a “neutral” rating for the company in a research note on Thursday, July 16th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Ready Capital in a research report on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $2.17.

Ready Capital Company 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.