Ready Capital Co. (NYSE:RC - Get Free Report) CEO Thomas E. Capasse purchased 10,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $4.80 per share, for a total transaction of $48,000.00. Following the completion of the purchase, the chief executive officer now directly owns 319,925 shares of the company's stock, valued at $1,535,640. The trade was a 3.23 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Ready Capital Trading Up 0.7 %
NYSE:RC opened at $5.00 on Friday. The company has a market cap of $841.81 million, a P/E ratio of -7.14 and a beta of 1.43. The business has a 50 day moving average price of $6.64 and a two-hundred day moving average price of $7.20. The company has a quick ratio of 1.67, a current 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 10.01%. The ex-dividend date of this dividend is Monday, March 31st. Ready Capital's dividend payout ratio (DPR) is presently -142.86%.
Hedge Funds Weigh In On Ready Capital
Several institutional investors and hedge funds have recently modified their holdings of RC. Vanguard Group Inc. grew its stake in shares of Ready Capital by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 11,366,828 shares of the real estate investment trust's stock valued at $77,522,000 after acquiring an additional 768,891 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of Ready Capital in the 4th quarter valued at $4,393,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ready Capital by 21.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,266,585 shares of the real estate investment trust's stock valued at $15,458,000 after purchasing an additional 398,005 shares in the last quarter. Wolverine Asset Management LLC boosted its holdings in shares of Ready Capital by 2,902.2% in the 3rd quarter. Wolverine Asset Management LLC now owns 402,291 shares of the real estate investment trust's stock valued at $3,069,000 after purchasing an additional 388,891 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Ready Capital by 3,049.5% in the 4th quarter. Marshall Wace LLP now owns 392,559 shares of the real estate investment trust's stock valued at $2,677,000 after purchasing an additional 380,095 shares in the last quarter. 55.87% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. JMP Securities dropped their price objective on Ready Capital from $10.50 to $9.50 and set a "market outperform" rating on the stock in a report on Thursday, December 12th. Wedbush reissued a "neutral" rating and set a $6.00 target price (down from $8.00) on shares of Ready Capital in a research report on Tuesday. UBS Group lowered their price target on Ready Capital from $8.50 to $7.50 and set a "neutral" rating on the stock in a report on Friday, November 15th. Citizens Jmp downgraded Ready Capital from an "outperform" rating to a "market perform" rating in a research report on Monday. Finally, Keefe, Bruyette & Woods decreased their price objective on Ready Capital from $6.25 to $4.00 and set an "underperform" rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $7.86.
Check Out Our Latest Analysis on Ready Capital
About Ready Capital
(
Get Free Report)
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.
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