Thrivent Financial for Lutherans Buys 3,123 Shares of Ready Capital Co. (NYSE:RC)

Thrivent Financial for Lutherans raised its stake in shares of Ready Capital Co. (NYSE:RC) by 2.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 132,098 shares of the real estate investment trust’s stock after purchasing an additional 3,123 shares during the period. Thrivent Financial for Lutherans’ holdings in Ready Capital were worth $1,008,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. HB Wealth Management LLC lifted its position in shares of Ready Capital by 3.4% during the 2nd quarter. HB Wealth Management LLC now owns 33,216 shares of the real estate investment trust’s stock valued at $272,000 after buying an additional 1,101 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Ready Capital by 2.2% during the second quarter. Victory Capital Management Inc. now owns 63,699 shares of the real estate investment trust’s stock valued at $521,000 after purchasing an additional 1,375 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of Ready Capital by 12.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 12,970 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 1,455 shares during the period. CWM LLC increased its stake in shares of Ready Capital by 94.6% in the second quarter. CWM LLC now owns 3,361 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 1,634 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Ready Capital by 4.0% in the third quarter. Louisiana State Employees Retirement System now owns 81,300 shares of the real estate investment trust’s stock worth $620,000 after purchasing an additional 3,100 shares in the last quarter. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Ready Capital Stock Up 2.7 %

NYSE RC opened at $7.57 on Tuesday. The stock has a 50 day moving average price of $7.22 and a 200-day moving average price of $8.04. Ready Capital Co. has a one year low of $6.65 and a one year high of $11.67. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. The company has a market capitalization of $1.28 billion, a P/E ratio of -10.81 and a beta of 1.43.

Ready Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 13.21%. Ready Capital’s payout ratio is currently -142.86%.

Analyst Ratings Changes

RC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of Ready Capital from $8.00 to $7.75 and set an “underperform” rating for the company in a report on Monday, August 12th. Wedbush reiterated a “neutral” rating and set a $9.00 target price on shares of Ready Capital in a research report on Monday, August 12th. Piper Sandler lowered their price target on Ready Capital from $9.50 to $8.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, UBS Group cut their price objective on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Friday, November 15th. One 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 data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.04.

Ready Capital 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.