Charles Schwab Investment Management Inc. boosted its position in shares of Ready Capital Co. (NYSE:RC - Free Report) by 11.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,868,580 shares of the real estate investment trust's stock after acquiring an additional 195,663 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.11% of Ready Capital worth $14,257,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. CWM LLC increased its position in Ready Capital by 94.6% in the 2nd 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 period. KBC Group NV lifted its position in shares of Ready Capital by 64.1% in the third quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust's stock valued at $63,000 after acquiring an additional 3,248 shares in the last quarter. Xponance Inc. purchased a new stake in shares of Ready Capital in the second quarter valued at $84,000. Choreo LLC purchased a new stake in shares of Ready Capital in the second quarter valued at $91,000. Finally, Naviter Wealth LLC lifted its position in Ready Capital by 35.0% during the second quarter. Naviter Wealth LLC now owns 13,500 shares of the real estate investment trust's stock worth $114,000 after buying an additional 3,500 shares during the period. Hedge funds and other institutional investors own 55.87% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. Piper Sandler lowered their price objective on Ready Capital from $9.50 to $8.00 and set a "neutral" rating for the company in a research note on Monday, September 16th. Keefe, Bruyette & Woods lowered their price target on Ready Capital from $8.00 to $7.75 and set an "underperform" rating on the stock in a research report on Monday, August 12th. UBS Group lowered their price target on Ready Capital from $8.50 to $7.50 and set a "neutral" rating on the stock in a report on Friday, November 15th. Finally, Wedbush reiterated a "neutral" rating and set a $9.00 price target on shares of Ready Capital in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $9.04.
Check Out Our Latest Stock Report on RC
Ready Capital Price Performance
Shares of Ready Capital stock traded up $0.10 during trading on Monday, reaching $7.49. 1,058,560 shares of the company's stock were exchanged, compared to its average volume of 1,552,415. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67. Ready Capital Co. has a 1-year low of $6.65 and a 1-year high of $11.67. The firm's 50-day moving average price is $7.18 and its 200 day moving average price is $8.00.
Ready Capital Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 13.35%. Ready Capital's dividend payout ratio is presently -142.86%.
About Ready Capital
(
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.
See Also
Before you consider Ready Capital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ready Capital wasn't on the list.
While Ready Capital currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
