Invesco Ltd. Has $21.25 Million Stock Holdings in Ready Capital Co. (NYSE:RC)

Invesco Ltd. grew its stake in shares of Ready Capital Co. (NYSE:RC - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,116,019 shares of the real estate investment trust's stock after acquiring an additional 197,770 shares during the period. Invesco Ltd. owned 1.85% of Ready Capital worth $21,251,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Steward Partners Investment Advisory LLC grew its position in Ready Capital by 3,075.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust's stock worth $43,000 after acquiring an additional 6,150 shares in the last quarter. Avion Wealth bought a new stake in Ready Capital in the fourth quarter worth $47,000. Ausdal Financial Partners Inc. bought a new stake in Ready Capital in the fourth quarter worth $68,000. Proficio Capital Partners LLC acquired a new position in Ready Capital during the fourth quarter worth $69,000. Finally, Sequoia Financial Advisors LLC bought a new position in Ready Capital during the fourth quarter valued at about $73,000. 55.87% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ready Capital news, insider Adam Zausmer purchased 10,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $5.42 per share, with a total value of $54,200.00. Following the completion of the transaction, the insider now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.09% of the company's stock.

Ready Capital Stock Performance

Shares of NYSE:RC traded down $0.02 on Thursday, hitting $4.45. 842,022 shares of the company were exchanged, compared to its average volume of 1,994,391. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. The company's 50 day moving average price is $5.23 and its two-hundred day moving average price is $6.41. Ready Capital Co. has a one year low of $4.16 and a one year high of $9.54. The firm has a market capitalization of $763.78 million, a price-to-earnings ratio of -6.35 and a beta of 1.23.

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 issued a $0.125 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.50 annualized dividend and a yield of 11.25%. Ready Capital's dividend payout ratio (DPR) is -18.94%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RC shares. Wedbush reissued a "neutral" rating and set a $6.00 price objective (down previously from $8.00) on shares of Ready Capital in a report on Tuesday, March 4th. Citizens Jmp lowered shares of Ready Capital from an "outperform" rating to a "market perform" rating in a research report on Monday, March 3rd. B. Riley reiterated a "neutral" rating and issued a $10.00 target price (down from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. UBS Group cut their target price on shares of Ready Capital from $5.00 to $4.75 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods lowered their price target on Ready Capital from $6.25 to $4.00 and set an "underperform" rating on the stock in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Ready Capital has a consensus rating of "Hold" and a consensus target price of $7.04.

About Ready Capital

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.