Ready Capital Co. (NYSE:RC) Stock Holdings Lifted by Naviter Wealth LLC

Naviter Wealth LLC lifted its holdings in shares of Ready Capital Co. (NYSE:RC) by 35.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,500 shares of the real estate investment trust’s stock after buying an additional 3,500 shares during the period. Naviter Wealth LLC’s holdings in Ready Capital were worth $114,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. HB Wealth Management LLC grew its holdings in shares of Ready Capital by 3.4% during the second quarter. HB Wealth Management LLC now owns 33,216 shares of the real estate investment trust’s stock valued at $272,000 after purchasing an additional 1,101 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Ready Capital by 12.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 12,970 shares of the real estate investment trust’s stock valued at $118,000 after purchasing an additional 1,455 shares during the period. CWM LLC grew its stake in Ready Capital by 94.6% during the 2nd quarter. CWM LLC now owns 3,361 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 1,634 shares during the last quarter. Texas Permanent School Fund Corp increased its position in Ready Capital by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 138,085 shares of the real estate investment trust’s stock worth $1,261,000 after buying an additional 1,718 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its stake in Ready Capital by 2.1% in the first quarter. Illinois Municipal Retirement Fund now owns 95,051 shares of the real estate investment trust’s stock valued at $868,000 after buying an additional 1,992 shares during the last quarter. Institutional investors and hedge funds own 55.87% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on RC. BTIG Research started coverage on shares of Ready Capital in a research report on Friday, July 19th. They set a “neutral” rating for the company. Keefe, Bruyette & Woods decreased their target price on shares of Ready Capital from $8.00 to $7.75 and set an “underperform” rating for the company in a research report on Monday, August 12th. Wedbush reaffirmed a “neutral” rating and set a $9.00 price target on shares of Ready Capital in a report on Monday, August 12th. Finally, LADENBURG THALM/SH SH cut Ready Capital from a “buy” rating to a “neutral” rating in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.65.

Ready Capital Trading Down 1.2 %

Ready Capital stock opened at $8.19 on Wednesday. Ready Capital Co. has a 12-month low of $7.93 and a 12-month high of $11.67. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a market capitalization of $1.38 billion, a PE ratio of 5.09 and a beta of 1.43. The firm has a 50 day simple moving average of $8.69 and a 200-day simple moving average of $8.66.

Ready Capital (NYSE:RC) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.19). The firm had revenue of $234.12 million for the quarter, compared to the consensus estimate of $61.77 million. Ready Capital had a negative net margin of 5.67% and a positive return on equity of 7.32%. During the same period in the previous year, the business posted $0.35 earnings per share. As a group, equities research analysts expect that Ready Capital Co. will post 1.03 EPS for the current fiscal year.

Ready Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 14.65%. The ex-dividend date was Friday, June 28th. Ready Capital’s payout ratio is 74.53%.

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.