United Advisor Group LLC Takes Position in Ready Capital Co. (NYSE:RC)

United Advisor Group LLC acquired a new position in shares of Ready Capital Co. (NYSE:RC) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 19,750 shares of the real estate investment trust’s stock, valued at approximately $151,000.

Several other institutional investors have also added to or reduced their stakes in RC. HB Wealth Management LLC raised its holdings in shares of Ready Capital by 3.4% in the second quarter. HB Wealth Management LLC now owns 33,216 shares of the real estate investment trust’s stock valued at $272,000 after purchasing an additional 1,101 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Ready Capital by 2.2% in the 2nd quarter. Victory Capital Management Inc. now owns 63,699 shares of the real estate investment trust’s stock valued at $521,000 after acquiring an additional 1,375 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Ready Capital by 12.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 12,970 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 1,455 shares during the last quarter. CWM LLC increased its position in shares of Ready Capital by 94.6% in the second quarter. CWM LLC now owns 3,361 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 1,634 shares during the last quarter. Finally, Texas Permanent School Fund Corp boosted its position in Ready Capital by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 138,085 shares of the real estate investment trust’s stock valued at $1,261,000 after purchasing an additional 1,718 shares during the last quarter. 55.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on RC. BTIG Research began coverage on shares of Ready Capital in a research note on Friday, July 19th. They set a “neutral” rating on the stock. Wedbush reaffirmed a “neutral” rating and set a $9.00 price objective on shares of Ready Capital in a research report on Monday, August 12th. Keefe, Bruyette & Woods dropped their price objective on shares of Ready Capital from $8.00 to $7.75 and set an “underperform” rating on the stock in a research report on Monday, August 12th. Finally, Piper Sandler reduced their target price on shares of Ready Capital from $9.50 to $8.00 and set a “neutral” rating for the company in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.38.

Ready Capital Trading Up 3.0 %

RC opened at $6.99 on Thursday. The company’s 50 day moving average is $7.48 and its 200-day moving average is $8.22. The company has a market cap of $1.17 billion, a P/E ratio of -18.38 and a beta of 1.42. Ready Capital Co. has a 1-year low of $6.65 and a 1-year high of $11.67. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.52.

Ready Capital (NYSE:RC) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.19). The business had revenue of $234.12 million during the quarter, compared to analyst estimates of $61.77 million. Ready Capital had a negative net margin of 5.67% and a positive return on equity of 7.32%. During the same quarter last year, the company posted $0.35 earnings per share. Equities research analysts predict that Ready Capital Co. will post 0.98 earnings per share for the current fiscal year.

Ready Capital Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.32%. Ready Capital’s dividend payout ratio (DPR) is currently -263.16%.

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.