Thrivent Financial for Lutherans grew its holdings in shares of Ready Capital Corp (NYSE:RC) by 53.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,021 shares of the real estate investment trust’s stock after buying an additional 14,947 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of Ready Capital worth $311,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Ready Capital by 60.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,967 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 1,873 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Ready Capital by 3,316.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,534 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 5,372 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Ready Capital by 45.0% in the 4th quarter. Bank of Montreal Can now owns 3,967 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 1,231 shares during the last quarter. Family Management Corp acquired a new stake in shares of Ready Capital during the 1st quarter valued at approximately $90,000. Finally, Metropolitan Life Insurance Co NY bought a new position in Ready Capital during the first quarter worth $90,000. Institutional investors own 44.95% of the company’s stock.
In related news, COO Gary Taylor acquired 8,250 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $6.02 per share, for a total transaction of $49,665.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.79% of the company’s stock.
Shares of NYSE RC opened at $8.79 on Wednesday. Ready Capital Corp has a 12-month low of $3.92 and a 12-month high of $16.90. The company has a market cap of $477.01 million, a PE ratio of -292.90 and a beta of 0.98. The stock has a 50 day simple moving average of $7.32 and a 200-day simple moving average of $10.89. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.57.
Ready Capital (NYSE:RC) last announced its earnings results on Monday, May 11th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.35). Ready Capital had a negative net margin of 2.77% and a positive return on equity of 7.30%. The business had revenue of $22.62 million for the quarter, compared to the consensus estimate of $24.87 million. Sell-side analysts forecast that Ready Capital Corp will post 1.04 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 11.38%. The ex-dividend date of this dividend is Monday, June 29th. Ready Capital’s payout ratio is currently 103.90%.
RC has been the topic of a number of research reports. ValuEngine raised shares of Ready Capital from a “strong sell” rating to a “sell” rating in a report on Thursday, June 4th. Zacks Investment Research upgraded shares of Ready Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, June 23rd. TheStreet downgraded Ready Capital from a “c” rating to a “d+” rating in a research note on Monday, May 11th. JMP Securities increased their price target on Ready Capital from $10.00 to $11.00 and gave the stock a “market outperform” rating in a research report on Thursday, June 18th. Finally, LADENBURG THALM/SH SH downgraded Ready Capital from a “buy” rating to a “neutral” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $14.29.
Ready Capital Profile
Ready Capital Corporation operates as a real estate finance company in the United States. The company originates, acquires, finances, and services small balance commercial (SBC) loans, small business administration (SBA) loans, and residential mortgage loans, as well as mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.
Featured Article: What is Elliott Wave theory?
Receive News & Ratings for Ready Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ready Capital and related companies with MarketBeat.com's FREE daily email newsletter.