JPMorgan Chase & Co. Has $4.20 Million Position in Ready Capital Co. (NYSE:RC)

JPMorgan Chase & Co. raised its stake in shares of Ready Capital Co. (NYSE:RC - Free Report) by 82.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 615,431 shares of the real estate investment trust's stock after purchasing an additional 278,658 shares during the period. JPMorgan Chase & Co. owned 0.37% of Ready Capital worth $4,197,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in RC. Ausdal Financial Partners Inc. acquired a new stake in shares of Ready Capital during the fourth quarter valued at about $68,000. Vanguard Group Inc. increased its holdings in Ready Capital by 7.3% during the 4th quarter. Vanguard Group Inc. now owns 11,366,828 shares of the real estate investment trust's stock worth $77,522,000 after purchasing an additional 768,891 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Ready Capital during the 4th quarter valued at approximately $206,000. Virtu Financial LLC acquired a new stake in shares of Ready Capital during the fourth quarter worth approximately $244,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Ready Capital by 74.1% in the fourth quarter. Advisors Asset Management Inc. now owns 695,357 shares of the real estate investment trust's stock worth $4,742,000 after buying an additional 295,956 shares during the last quarter. 55.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Ready Capital news, insider Adam Zausmer acquired 10,000 shares of Ready Capital stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $5.42 per share, with a total value of $54,200.00. Following the purchase, the insider now owns 301,105 shares in the company, valued at approximately $1,631,989.10. The trade was a 3.44 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.09% of the company's stock.

Wall Street Analysts Forecast Growth

RC has been the subject of several recent analyst reports. Wedbush reissued a "neutral" rating and set a $6.00 price objective (down from $8.00) on shares of Ready Capital in a report 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. Keefe, Bruyette & Woods decreased their target price on Ready Capital from $6.25 to $4.00 and set an "underperform" rating for the company in a research report on Wednesday, March 5th. UBS Group reduced their price objective on Ready Capital from $5.00 to $4.75 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Finally, B. Riley reiterated a "neutral" rating and set a $10.00 target price (down previously from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. One 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $7.04.

Ready Capital Stock Performance

Ready Capital stock traded down $0.01 during midday trading on Monday, reaching $4.38. 2,661,039 shares of the stock traded hands, compared to its average volume of 1,989,300. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54. The firm has a fifty day moving average price of $5.32 and a two-hundred day moving average price of $6.44. The firm has a market cap of $752.61 million, a price-to-earnings ratio of -6.26 and a beta of 1.23. Ready Capital Co. has a fifty-two week low of $4.16 and a fifty-two week high of $9.54.

Ready Capital Cuts Dividend

The company 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. This represents a $0.50 dividend on an annualized basis and a yield of 11.42%. The ex-dividend date of this dividend is Monday, March 31st. Ready Capital's payout ratio is currently -18.94%.

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.