Ready Capital Co. (NYSE:RC) Position Boosted by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Ready Capital Co. (NYSE:RC) by 45.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 362,226 shares of the real estate investment trust’s stock after purchasing an additional 112,811 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.22% of Ready Capital worth $2,764,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RC. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ready Capital by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,580 shares of the real estate investment trust’s stock valued at $14,257,000 after acquiring an additional 195,663 shares during the period. Clear Harbor Asset Management LLC increased its holdings in shares of Ready Capital by 84.0% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 1,440,250 shares of the real estate investment trust’s stock worth $10,989,000 after acquiring an additional 657,465 shares during the period. Van ECK Associates Corp lifted its position in Ready Capital by 1.8% in the 3rd quarter. Van ECK Associates Corp now owns 1,366,040 shares of the real estate investment trust’s stock valued at $9,508,000 after purchasing an additional 23,970 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Ready Capital by 3.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,189,988 shares of the real estate investment trust’s stock valued at $9,734,000 after purchasing an additional 38,371 shares during the period. Finally, Principal Financial Group Inc. grew its position in Ready Capital by 3.3% in the 3rd quarter. Principal Financial Group Inc. now owns 792,536 shares of the real estate investment trust’s stock worth $6,047,000 after purchasing an additional 25,545 shares during the last quarter. 55.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. 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 report on Monday, September 16th. JMP Securities cut their target price on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a research note on Thursday. Finally, UBS Group decreased their price target on Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $9.11.

Ready Capital Stock Up 1.6 %

Shares of Ready Capital stock opened at $7.46 on Friday. Ready Capital Co. has a 12-month low of $6.65 and a 12-month high of $11.67. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average price of $7.17 and a two-hundred day moving average price of $7.97. The stock has a market capitalization of $1.26 billion, a P/E ratio of -10.65 and a beta of 1.43.

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.