Ready Capital Co. (NYSE:RC) Shares Acquired by Barclays PLC

Barclays PLC raised its position in Ready Capital Co. (NYSE:RC - Free Report) by 17.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 570,835 shares of the real estate investment trust's stock after buying an additional 85,849 shares during the period. Barclays PLC owned approximately 0.34% of Ready Capital worth $3,893,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RC. Principal Financial Group Inc. grew its stake in Ready Capital by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 792,536 shares of the real estate investment trust's stock worth $6,047,000 after buying an additional 25,545 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Ready Capital by 50.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 336,773 shares of the real estate investment trust's stock worth $2,570,000 after acquiring an additional 112,934 shares during the period. Seed Wealth Management Inc. lifted its position in Ready Capital by 93.8% in the 4th quarter. Seed Wealth Management Inc. now owns 24,800 shares of the real estate investment trust's stock valued at $169,000 after purchasing an additional 12,000 shares during the last quarter. Mutual Advisors LLC boosted its stake in Ready Capital by 4.7% during the 4th quarter. Mutual Advisors LLC now owns 109,993 shares of the real estate investment trust's stock valued at $742,000 after purchasing an additional 4,891 shares during the period. Finally, Entropy Technologies LP acquired a new stake in shares of Ready Capital in the fourth quarter valued at approximately $142,000. 55.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RC has been the topic of a number of recent analyst reports. Wedbush restated a "neutral" rating and set a $6.00 price target (down from $8.00) on shares of Ready Capital in a research report on Tuesday, March 4th. Citizens Jmp downgraded Ready Capital from an "outperform" rating to a "market perform" rating in a research report on Monday, March 3rd. B. Riley reaffirmed a "neutral" rating and set a $10.00 price target (down from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. UBS Group dropped 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, Keefe, Bruyette & Woods cut their price target on shares of Ready Capital from $6.25 to $4.00 and set an "underperform" rating for the company in a report on Wednesday, March 5th. One equities 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $7.04.

Ready Capital Trading Down 0.2 %

Shares of RC stock opened at $4.41 on Monday. 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 company has a market capitalization of $757.76 million, a P/E ratio of -6.30 and a beta of 1.23. Ready Capital Co. has a 12-month low of $4.16 and a 12-month high of $9.54. The firm has a 50-day moving average price of $5.13 and a 200 day moving average price of $6.36.

Ready Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 11.34%. The ex-dividend date is Monday, March 31st. Ready Capital's payout ratio is presently -18.94%.

Insider Activity

In related news, CEO Thomas E. Capasse purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $4.80 per share, with a total value of $48,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 319,925 shares in the company, valued at approximately $1,535,640. This trade represents a 3.23 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.09% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.