Virtu Financial LLC Takes $327,000 Position in Ready Capital Co. (NYSE:RC)

Virtu Financial LLC purchased a new stake in shares of Ready Capital Co. (NYSE:RC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 31,940 shares of the real estate investment trust’s stock, valued at approximately $327,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RC. Bear Mountain Capital Inc. bought a new position in Ready Capital in the 4th quarter worth $30,000. EdgeRock Capital LLC bought a new position in Ready Capital in the 4th quarter worth $36,000. Denali Advisors LLC bought a new position in Ready Capital in the 4th quarter worth $102,000. Wolverine Asset Management LLC raised its holdings in Ready Capital by 23.2% in the 3rd quarter. Wolverine Asset Management LLC now owns 10,605 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 2,000 shares during the period. Finally, Tyche Wealth Partners LLC bought a new stake in Ready Capital during the fourth quarter valued at about $119,000. 55.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

RC has been the topic of several research analyst reports. BTIG Research lowered their price objective on Ready Capital from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. StockNews.com downgraded Ready Capital from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. B. Riley restated a “buy” rating and issued a $12.00 price objective (down from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. LADENBURG THALM/SH SH downgraded Ready Capital from a “buy” rating to a “neutral” rating in a research report on Friday, May 10th. Finally, UBS Group lowered their price objective on Ready Capital from $10.50 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $10.93.

Insiders Place Their Bets

In other Ready Capital news, Director Gilbert E. Nathan bought 10,000 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were purchased at an average price of $8.29 per share, with a total value of $82,900.00. Following the completion of the purchase, the director now owns 95,249 shares in the company, valued at approximately $789,614.21. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.95% of the stock is currently owned by insiders.

Ready Capital Trading Up 0.2 %

Shares of RC stock opened at $8.42 on Friday. Ready Capital Co. has a 12-month low of $7.93 and a 12-month high of $11.97. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.47. The stock’s 50-day moving average price is $8.50 and its 200-day moving average price is $9.18. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 5.23 and a beta of 1.42.

Ready Capital (NYSE:RC) last issued its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Ready Capital had a return on equity of 8.11% and a net margin of 23.81%. The company had revenue of $232.35 million for the quarter, compared to analysts’ expectations of $64.34 million. During the same period in the previous year, the firm posted $0.31 earnings per share. Equities research analysts predict that Ready Capital Co. will post 1.17 EPS for the current fiscal year.

Ready Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.20 annualized dividend and a yield of 14.26%. Ready Capital’s payout ratio is currently 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.