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Barclays PLC Grows Stock Holdings in Ready Capital Co. (NYSE:RC)

Ready Capital logo with Finance background

Barclays PLC increased its stake in shares of Ready Capital Co. (NYSE:RC - Free Report) by 205.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 484,986 shares of the real estate investment trust's stock after buying an additional 326,467 shares during the period. Barclays PLC owned about 0.29% of Ready Capital worth $3,699,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in Ready Capital by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 1,189,988 shares of the real estate investment trust's stock worth $9,734,000 after buying an additional 38,371 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Ready Capital during the second quarter valued at about $151,000. HB Wealth Management LLC boosted its position in Ready Capital by 3.4% during the second quarter. HB Wealth Management LLC now owns 33,216 shares of the real estate investment trust's stock worth $272,000 after purchasing an additional 1,101 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ready Capital by 32.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,953 shares of the real estate investment trust's stock worth $310,000 after purchasing an additional 9,235 shares in the last quarter. Finally, TrueMark Investments LLC bought a new stake in shares of Ready Capital in the second quarter valued at approximately $3,082,000. Institutional investors own 55.87% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JMP Securities cut their price objective on shares of Ready Capital from $10.50 to $9.50 and set a "market outperform" rating for the company in a report on Thursday, December 12th. UBS Group cut their price target on Ready Capital from $8.50 to $7.50 and set a "neutral" rating for the company in a report on Friday, November 15th. Finally, Piper Sandler reduced their price target on Ready Capital from $9.50 to $8.00 and set a "neutral" rating for the company in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $9.11.

Check Out Our Latest Report on RC

Ready Capital Stock Up 0.1 %

Shares of NYSE:RC traded up $0.01 on Monday, hitting $7.27. 2,091,458 shares of the company traded hands, compared to its average volume of 1,595,275. Ready Capital Co. has a 52 week low of $6.65 and a 52 week high of $11.11. The stock has a 50 day simple moving average of $7.19 and a 200-day simple moving average of $7.93. The company has a market cap of $1.23 billion, a PE ratio of -10.39 and a beta of 1.43. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54.

Ready Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 13.76%. The ex-dividend date is Tuesday, December 31st. Ready Capital's payout ratio is currently -142.86%.

Ready Capital Company Profile

(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.

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Institutional Ownership by Quarter for Ready Capital (NYSE:RC)

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