Goldman Sachs Group Inc. Sells 16,403 Shares of Ready Capital Co. (NYSE:RC)

Goldman Sachs Group Inc. reduced its position in shares of Ready Capital Co. (NYSE:RC) by 15.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 89,409 shares of the real estate investment trust’s stock after selling 16,403 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Ready Capital were worth $1,419,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in Ready Capital by 78.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 408,310 shares of the real estate investment trust’s stock valued at $6,480,000 after purchasing an additional 179,747 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Ready Capital by 428.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 69,505 shares of the real estate investment trust’s stock valued at $1,103,000 after purchasing an additional 56,343 shares during the period. LSV Asset Management increased its position in Ready Capital by 67.0% during the 2nd quarter. LSV Asset Management now owns 84,323 shares of the real estate investment trust’s stock valued at $1,338,000 after purchasing an additional 33,823 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Ready Capital during the 2nd quarter valued at $1,635,000. Finally, PNC Financial Services Group Inc. increased its position in Ready Capital by 79.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,663 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 1,175 shares during the period. Institutional investors own 46.53% of the company’s stock.

In related news, Director Andrea Petro bought 2,000 shares of the stock in a transaction on Friday, November 12th. The shares were acquired at an average price of $16.20 per share, for a total transaction of $32,400.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.67% of the stock is currently owned by corporate insiders.

Shares of Ready Capital stock opened at $15.57 on Tuesday. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 7.94 and a beta of 1.08. The firm’s 50-day moving average is $15.41 and its 200 day moving average is $15.34. Ready Capital Co. has a 1 year low of $11.28 and a 1 year high of $16.78. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.55 and a quick ratio of 1.80.

Ready Capital (NYSE:RC) last posted its earnings results on Thursday, November 4th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.18. Ready Capital had a net margin of 37.95% and a return on equity of 13.61%. During the same quarter in the previous year, the company posted $0.57 EPS. On average, equities analysts expect that Ready Capital Co. will post 2.03 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 29th. Shareholders of record on Thursday, September 30th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 10.79%. The ex-dividend date was Wednesday, September 29th. Ready Capital’s dividend payout ratio is currently 85.71%.

RC has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Ready Capital from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Wednesday, November 10th. Raymond James upped their target price on shares of Ready Capital from $16.50 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $17.14.

Ready Capital Company Profile

Ready Capital Corp. is a real estate finance company, which engages in acquiring, managing, and financing small balance commercial loans. The company operates in four segments: Acquisitions; SBC Originations; SBA Originations, Acquisitions & Servicing; and Residential Mortgage Banking. The Acquisitions segment acquires performing and non-performing SBC loans and intends to continue to acquire these loans as part of the company’s business strategy.

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Institutional Ownership by Quarter for Ready Capital (NYSE:RC)