Ready Capital Co. (NYSE:RC - Get Free Report) insider Adam Zausmer bought 10,000 shares of the business's stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $5.42 per share, for a total transaction of $54,200.00. Following the purchase, the insider now directly owns 301,105 shares in the company, valued at approximately $1,631,989.10. This represents a 3.44 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
Ready Capital Stock Down 4.4 %
Shares of Ready Capital stock opened at $5.13 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. The stock has a market capitalization of $836.15 million, a PE ratio of -7.32 and a beta of 1.43. Ready Capital Co. has a 52-week low of $4.74 and a 52-week high of $9.53. The company has a 50-day simple moving average of $6.60 and a two-hundred day simple moving average of $7.15.
Ready Capital Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.125 per share. The ex-dividend date is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a yield of 9.76%. Ready Capital's dividend payout ratio (DPR) is -18.94%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the stock. Citizens Jmp lowered shares of Ready Capital from an "outperform" rating to a "market perform" rating in a research note on Monday, March 3rd. Keefe, Bruyette & Woods dropped their price objective on shares of Ready Capital from $6.25 to $4.00 and set an "underperform" rating on the stock in a research note on Wednesday, March 5th. JMP Securities dropped their price objective 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 decreased their target price on shares of Ready Capital from $8.50 to $7.50 and set a "neutral" rating for the company in a report on Friday, November 15th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $6.00 target price (down from $8.00) on shares of Ready Capital in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $7.86.
Get Our Latest Analysis on Ready Capital
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RC. Principal Financial Group Inc. lifted its position in Ready Capital by 3.3% during the third quarter. Principal Financial Group Inc. now owns 792,536 shares of the real estate investment trust's stock valued at $6,047,000 after purchasing an additional 25,545 shares during the period. Wolverine Asset Management LLC lifted its position in Ready Capital by 2,902.2% during the third 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 during the period. KBC Group NV lifted its position in Ready Capital by 64.1% during the third quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust's stock valued at $63,000 after purchasing an additional 3,248 shares during the period. Thrivent Financial for Lutherans lifted its position in Ready Capital by 2.4% during the third quarter. Thrivent Financial for Lutherans now owns 132,098 shares of the real estate investment trust's stock valued at $1,008,000 after purchasing an additional 3,123 shares during the period. Finally, Quest Partners LLC bought a new position in Ready Capital during the third quarter valued at approximately $160,000. Institutional investors own 55.87% of the company's stock.
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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