Virtu Financial LLC Invests $244,000 in Ready Capital Co. (NYSE:RC)

Virtu Financial LLC acquired a new stake in shares of Ready Capital Co. (NYSE:RC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 35,729 shares of the real estate investment trust’s stock, valued at approximately $244,000.

A number of other large investors also recently made changes to their positions in RC. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Ready Capital by 3.6% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 44,038 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 1,543 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Ready Capital by 18.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 15,193 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 2,328 shares in the last quarter. HighTower Advisors LLC boosted its position in Ready Capital by 3.9% in the 4th quarter. HighTower Advisors LLC now owns 76,803 shares of the real estate investment trust’s stock valued at $524,000 after buying an additional 2,917 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Ready Capital by 2.4% in 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 last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Ready Capital by 12.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,682 shares of the real estate investment trust’s stock valued at $326,000 after buying an additional 4,729 shares during the last quarter. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Insider Buying and Selling at Ready Capital

In related news, insider Adam Zausmer purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $5.42 per share, with a total value of $54,200.00. Following the purchase, the insider now owns 301,105 shares of the company’s stock, valued at $1,631,989.10. This trade represents a 3.44 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.09% of the stock is owned by corporate insiders.

Ready Capital Trading Down 1.7 %

Shares of Ready Capital stock opened at $4.97 on Friday. 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 business has a fifty day simple moving average of $6.08 and a 200-day simple moving average of $6.84. Ready Capital Co. has a fifty-two week low of $4.74 and a fifty-two week high of $9.54. The firm has a market cap of $853.13 million, a price-to-earnings ratio of -7.09 and a beta of 1.43.

Ready Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 10.07%. Ready Capital’s payout ratio is currently -18.94%.

Analyst Ratings Changes

A number of equities analysts recently commented on RC shares. Wedbush reiterated a “neutral” rating and issued a $6.00 price target (down from $8.00) on shares of Ready Capital in a research note on Tuesday, March 4th. Citizens Jmp cut Ready Capital from an “outperform” rating to a “market perform” rating in a research note on Monday, March 3rd. JMP Securities lowered their price objective on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research report on Thursday, December 12th. UBS Group lowered their price objective on Ready Capital from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Finally, 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 research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Ready Capital has an average rating of “Hold” and an average price target of $7.50.

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.