Ready Capital Co. (NYSE:RC) Shares Bought by AlphaQuest LLC

AlphaQuest LLC grew its holdings in shares of Ready Capital Co. (NYSE:RC) by 33.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,968 shares of the real estate investment trust’s stock after acquiring an additional 6,988 shares during the period. AlphaQuest LLC’s holdings in Ready Capital were worth $191,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Steward Partners Investment Advisory LLC grew its stake in Ready Capital by 3,075.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 6,150 shares in the last quarter. Avion Wealth acquired a new position in Ready Capital in the fourth quarter worth about $47,000. KBC Group NV grew its stake in Ready Capital by 64.1% in the third quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 3,248 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Ready Capital in the fourth quarter worth about $69,000. Finally, Ieq Capital LLC bought a new position in Ready Capital in the fourth quarter worth about $99,000. 55.87% of the stock is currently owned by institutional investors and hedge funds.

Ready Capital Stock Performance

RC opened at $5.02 on Monday. The business’s 50 day moving average is $6.42 and its 200-day moving average is $7.04. The stock has a market cap of $818.20 million, a PE ratio of -7.16 and a beta of 1.43. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54. Ready Capital Co. has a twelve month low of $4.74 and a twelve month high of $9.53.

Ready Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 annualized dividend and a yield of 9.97%. Ready Capital’s payout ratio is -18.94%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Citizens Jmp cut shares of Ready Capital from an “outperform” rating to a “market perform” rating in a report on Monday, March 3rd. UBS Group cut their target price on shares of Ready Capital from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday. B. Riley reissued a “neutral” rating and issued a $10.00 target price (down previously from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. JMP Securities cut their target price on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a report on Thursday, December 12th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Ready Capital from $6.25 to $4.00 and set an “underperform” rating on the stock in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.50.

Insider Buying and Selling

In other news, CEO Thomas E. Capasse bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average price of $4.80 per share, with a total value of $48,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 319,925 shares in the company, valued at approximately $1,535,640. This trade represents a 3.23 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.09% of the stock is owned by corporate insiders.

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.