Ready Capital Co. (NYSE:RC) Shares Purchased by Barclays PLC

Barclays PLC raised its holdings in Ready Capital Co. (NYSE:RC) by 205.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 484,986 shares of the real estate investment trust’s stock after acquiring an additional 326,467 shares during the period. Barclays PLC’s holdings in Ready Capital were worth $3,699,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. State Street Corp grew its position in shares of Ready Capital by 4.8% in the third quarter. State Street Corp now owns 6,315,147 shares of the real estate investment trust’s stock valued at $49,746,000 after purchasing an additional 287,068 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Ready Capital by 11.7% in the 3rd 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 buying an additional 195,663 shares during the period. Clear Harbor Asset Management LLC lifted 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 worth $10,989,000 after acquiring an additional 657,465 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Ready Capital by 1.8% during the 3rd quarter. Van ECK Associates Corp now owns 1,366,040 shares of the real estate investment trust’s stock worth $9,508,000 after acquiring an additional 23,970 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Ready Capital by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 1,189,988 shares of the real estate investment trust’s stock worth $9,734,000 after acquiring an additional 38,371 shares during the last quarter. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Analyst Ratings Changes

RC has been the topic of a number of recent analyst reports. JMP Securities cut their price target on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a research note on Thursday, December 12th. UBS Group reduced their target price on Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Friday, November 15th. Finally, Piper Sandler dropped their price target on Ready Capital from $9.50 to $8.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.11.

Ready Capital Stock Up 2.3 %

Shares of Ready Capital stock opened at $7.26 on Monday. The company has a fifty day moving average price of $7.19 and a 200 day moving average price of $7.93. 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 $6.65 and a twelve month high of $11.11. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -10.37 and a beta of 1.43.

Ready Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 13.77%. Ready Capital’s dividend payout ratio (DPR) is currently -142.86%.

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.