Charles Schwab Investment Management Inc. Boosts Stock Holdings in Ready Capital Co. (NYSE:RC)

Charles Schwab Investment Management Inc. grew its position in Ready Capital Co. (NYSE:RC - Free Report) by 21.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,266,585 shares of the real estate investment trust's stock after acquiring an additional 398,005 shares during the period. Charles Schwab Investment Management Inc. owned 1.34% of Ready Capital worth $15,458,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. State Street Corp grew its holdings in Ready Capital by 4.8% during the 3rd quarter. State Street Corp now owns 6,315,147 shares of the real estate investment trust's stock worth $49,746,000 after acquiring an additional 287,068 shares during the last quarter. Geode Capital Management LLC increased its holdings in Ready Capital by 4.1% in the third quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust's stock valued at $29,292,000 after purchasing an additional 150,479 shares during the period. Van ECK Associates Corp raised its position in Ready Capital by 12.8% during the 4th quarter. Van ECK Associates Corp now owns 1,540,765 shares of the real estate investment trust's stock worth $10,508,000 after purchasing an additional 174,725 shares during the last quarter. Bank of New York Mellon Corp raised its position in Ready Capital by 7.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,166,296 shares of the real estate investment trust's stock worth $7,954,000 after purchasing an additional 76,788 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Ready Capital by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 816,942 shares of the real estate investment trust's stock worth $5,572,000 after buying an additional 24,406 shares during the period. Institutional investors and hedge funds own 55.87% of the company's stock.

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Insiders Place Their Bets

In related news, insider Adam Zausmer purchased 10,000 shares of the business's stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $5.42 per share, for a total transaction of $54,200.00. Following the purchase, the insider now owns 301,105 shares of the company's stock, valued at approximately $1,631,989.10. This trade represents a 3.44 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.09% of the company's stock.

Ready Capital Stock Down 0.5 %

Ready Capital stock traded down $0.03 during mid-day trading on Monday, reaching $5.01. The stock had a trading volume of 1,773,458 shares, compared to its average volume of 1,807,996. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. Ready Capital Co. has a fifty-two week low of $4.74 and a fifty-two week high of $9.54. The stock's 50-day simple moving average is $6.25 and its 200-day simple moving average is $6.93. The firm has a market capitalization of $816.57 million, a PE ratio of -7.15 and a beta of 1.43.

Ready Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a yield of 9.99%. Ready Capital's dividend payout ratio (DPR) is presently -18.94%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. JMP Securities lowered their price objective on 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. Keefe, Bruyette & Woods reduced their price objective 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. B. Riley reiterated a "neutral" rating and set a $10.00 price target (down from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. UBS Group decreased their target price 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, Wedbush reiterated a "neutral" rating and issued a $6.00 target price (down from $8.00) on shares of Ready Capital in a report on Tuesday, March 4th. One 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 MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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.