Ready Capital Co. (NYSE:RC) Stake Cut by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC cut its position in shares of Ready Capital Co. (NYSE:RC) by 19.9% in the second quarter, Holdings Channel reports. The firm owned 16,288 shares of the real estate investment trust’s stock after selling 4,059 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Ready Capital were worth $133,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RC. CWM LLC raised its stake in shares of Ready Capital by 94.6% during the 2nd 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. EntryPoint Capital LLC bought a new position in shares of Ready Capital in the 1st quarter valued at approximately $40,000. MCF Advisors LLC bought a new position in shares of Ready Capital in the 1st quarter valued at approximately $42,000. Cadence Bank bought a new position in shares of Ready Capital in the 1st quarter valued at approximately $91,000. Finally, Choreo LLC bought a new position in shares of Ready Capital in the 2nd quarter valued at approximately $91,000. 55.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RC. Wedbush reissued a “neutral” rating and issued a $9.00 price objective on shares of Ready Capital in a research note on Monday, August 12th. Keefe, Bruyette & Woods decreased their price objective on Ready Capital from $8.00 to $7.75 and set an “underperform” rating on the stock in a report on Monday, August 12th. Piper Sandler decreased 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. Finally, BTIG Research assumed coverage on Ready Capital in a research note on Friday, July 19th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $9.38.

Ready Capital Trading Up 0.6 %

Shares of RC opened at $7.63 on Tuesday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.52. Ready Capital Co. has a 12-month low of $7.52 and a 12-month high of $11.67. The firm has a market capitalization of $1.28 billion, a PE ratio of 4.74 and a beta of 1.42. The stock’s fifty day simple moving average is $8.38 and its 200-day simple moving average is $8.54.

Ready Capital (NYSE:RC) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.19). Ready Capital had a negative net margin of 5.67% and a positive return on equity of 7.32%. The company had revenue of $234.12 million during the quarter, compared to analyst estimates of $61.77 million. During the same period in the previous year, the company posted $0.35 EPS. As a group, research analysts predict that Ready Capital Co. will post 0.98 earnings per share for the current year.

Ready Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 13.11%. Ready Capital’s dividend payout ratio (DPR) is currently 62.11%.

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.