MCF Advisors LLC Buys Shares of 4,464 Ready Capital Co. (NYSE:RC)

MCF Advisors LLC purchased a new position in Ready Capital Co. (NYSE:RC) during the first quarter, HoldingsChannel.com reports. The fund purchased 4,464 shares of the real estate investment trust’s stock, valued at approximately $42,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Bear Mountain Capital Inc. acquired a new stake in Ready Capital during the fourth quarter worth about $30,000. EdgeRock Capital LLC bought a new position in shares of Ready Capital during the fourth quarter valued at approximately $36,000. Denali Advisors LLC acquired a new stake in shares of Ready Capital during the 4th quarter worth approximately $102,000. Centaurus Financial Inc. bought a new stake in shares of Ready Capital in the 4th quarter worth approximately $111,000. Finally, Tyche Wealth Partners LLC acquired a new position in Ready Capital during the 4th quarter valued at approximately $119,000. 55.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ready Capital

In related news, Director Gilbert E. Nathan purchased 10,000 shares of the company’s stock in a transaction on Friday, May 24th. The shares were bought at an average price of $8.29 per share, with a total value of $82,900.00. Following the completion of the acquisition, the director now owns 95,249 shares of the company’s stock, valued at $789,614.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.09% of the company’s stock.

Ready Capital Price Performance

Shares of NYSE:RC opened at $8.18 on Friday. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 5.08 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.76. Ready Capital Co. has a 12 month low of $7.93 and a 12 month high of $11.97. The stock’s 50 day moving average price is $8.49 and its 200 day moving average price is $9.09.

Ready Capital (NYSE:RC) last posted its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.29 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $64.34 million. During the same quarter in the previous year, the business earned $0.31 EPS. Equities research analysts anticipate that Ready Capital Co. will post 1.17 earnings per share for the current fiscal year.

Ready Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.30 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 14.67%. Ready Capital’s payout ratio is currently 74.53%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RC shares. B. Riley reiterated a “buy” rating and issued a $12.00 target price (down from $13.00) on shares of Ready Capital in a research note on Monday, March 4th. LADENBURG THALM/SH SH lowered shares of Ready Capital from a “buy” rating to a “neutral” rating in a research note on Friday, May 10th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 price target (down previously from $10.00) on shares of Ready Capital in a research note on Monday, March 4th. BTIG Research reduced their price objective on Ready Capital from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Finally, StockNews.com lowered Ready Capital from a “buy” rating to a “hold” rating in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Ready Capital currently has a consensus rating of “Hold” and a consensus target price of $10.93.

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.