KBC Group NV Has $63,000 Stock Position in Ready Capital Co. (NYSE:RC)

KBC Group NV raised its holdings in Ready Capital Co. (NYSE:RC) by 64.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,318 shares of the real estate investment trust’s stock after purchasing an additional 3,248 shares during the quarter. KBC Group NV’s holdings in Ready Capital were worth $63,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of RC. Clear Harbor Asset Management LLC grew its holdings in shares of Ready Capital by 84.0% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 1,440,250 shares of the real estate investment trust’s stock valued at $10,989,000 after purchasing an additional 657,465 shares during the last quarter. Wolverine Asset Management LLC grew its stake in shares of Ready Capital by 2,902.2% during the third quarter. Wolverine Asset Management LLC now owns 402,291 shares of the real estate investment trust’s stock worth $3,069,000 after buying an additional 388,891 shares during the last quarter. TrueMark Investments LLC bought a new stake in shares of Ready Capital during the second quarter worth $3,082,000. Van ECK Associates Corp increased its holdings in shares of Ready Capital by 29.4% during the second quarter. Van ECK Associates Corp now owns 1,342,070 shares of the real estate investment trust’s stock worth $10,978,000 after buying an additional 304,750 shares in the last quarter. Finally, Spire Wealth Management lifted its stake in shares of Ready Capital by 1,115.6% in the 2nd quarter. Spire Wealth Management now owns 168,261 shares of the real estate investment trust’s stock valued at $1,376,000 after acquiring an additional 154,419 shares during the last quarter. Institutional investors and hedge funds own 55.87% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on RC. Wedbush restated a “neutral” rating and set a $9.00 price objective on shares of Ready Capital in a research report on Monday, August 12th. Piper Sandler cut their price target on Ready Capital from $9.50 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Keefe, Bruyette & Woods lowered their price objective on Ready Capital from $8.00 to $7.75 and set an “underperform” rating for the company in a research note on Monday, August 12th. Finally, UBS Group cut their target price on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $9.04.

Ready Capital Trading Up 1.9 %

Shares of RC stock opened at $7.39 on Friday. Ready Capital Co. has a 1-year low of $6.65 and a 1-year high of $11.67. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -10.56 and a beta of 1.42. The stock has a 50-day moving average of $7.29 and a 200-day moving average of $8.09.

Ready Capital Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 13.53%. The ex-dividend date was Monday, September 30th. Ready Capital’s dividend payout ratio is presently -142.86%.

Ready Capital Company Profile

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.