Ready Capital Co. (NYSE:RC) CEO Thomas E. Capasse Buys 10,000 Shares

Ready Capital Co. (NYSE:RC) CEO Thomas E. Capasse acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $4.80 per share, for a total transaction of $48,000.00. Following the completion of the transaction, the chief executive officer now directly owns 319,925 shares in the company, valued at $1,535,640. The trade was a 3.23 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ready Capital Price Performance

Shares of NYSE:RC opened at $5.35 on Friday. The firm’s 50 day moving average price is $6.60 and its 200-day moving average price is $7.17. Ready Capital Co. has a twelve month low of $4.74 and a twelve month high of $9.53. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $872.37 million, a PE ratio of -7.64 and a beta of 1.43.

Ready Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 9.35%. The ex-dividend date of this dividend is Monday, March 31st. Ready Capital’s dividend payout ratio (DPR) is presently -18.94%.

Hedge Funds Weigh In On Ready Capital

Several institutional investors have recently made changes to their positions in RC. Sterling Capital Management LLC raised its stake in Ready Capital by 822.8% during the 4th quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 4,616 shares during the period. Steward Partners Investment Advisory LLC raised its stake in Ready Capital by 3,075.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 6,150 shares during the period. Avion Wealth bought a new stake in Ready Capital during the 4th quarter worth approximately $47,000. KBC Group NV raised its stake in Ready Capital by 64.1% during the 3rd quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 3,248 shares during the period. Finally, Ausdal Financial Partners Inc. bought a new stake in Ready Capital during the 4th quarter worth approximately $68,000. Institutional investors own 55.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RC. Wedbush reaffirmed a “neutral” rating and set a $6.00 price target (down previously from $8.00) on shares of Ready Capital in a report on Tuesday, March 4th. Keefe, Bruyette & Woods dropped their price target on shares of Ready Capital from $6.25 to $4.00 and set an “underperform” rating on the stock in a report on Wednesday. B. Riley reaffirmed a “neutral” rating and set a $10.00 price target (down previously from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. Citizens Jmp downgraded shares of Ready Capital from an “outperform” rating to a “market perform” rating in a report on Monday, March 3rd. Finally, JMP Securities dropped their price target on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.86.

Ready Capital Company 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.