Van ECK Associates Corp Increases Holdings in Ready Capital Co. (NYSE:RC)

Van ECK Associates Corp increased its position in shares of Ready Capital Co. (NYSE:RC - Free Report) by 12.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,540,765 shares of the real estate investment trust's stock after buying an additional 174,725 shares during the period. Van ECK Associates Corp owned about 0.91% of Ready Capital worth $10,508,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Ready Capital by 4.8% during the third quarter. State Street Corp now owns 6,315,147 shares of the real estate investment trust's stock valued at $49,746,000 after buying an additional 287,068 shares during the period. Geode Capital Management LLC boosted its position in Ready Capital by 4.1% during 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Ready Capital by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,580 shares of the real estate investment trust's stock valued at $14,257,000 after purchasing an additional 195,663 shares in the last quarter. Clear Harbor Asset Management LLC boosted its position in Ready Capital by 84.0% during the third quarter. Clear Harbor Asset Management LLC now owns 1,440,250 shares of the real estate investment trust's stock valued at $10,989,000 after purchasing an additional 657,465 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Ready Capital by 3.3% during the third quarter. Principal Financial Group Inc. now owns 792,536 shares of the real estate investment trust's stock valued at $6,047,000 after purchasing an additional 25,545 shares in the last quarter. Hedge funds and other institutional investors own 55.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RC. Keefe, Bruyette & Woods dropped their price objective on Ready Capital from $6.75 to $6.25 and set an "underperform" rating on the stock in a research report on Tuesday, January 14th. JMP Securities dropped their price objective on Ready Capital from $10.50 to $9.50 and set a "market outperform" rating on the stock in a research report on Thursday, December 12th. B. Riley reaffirmed a "neutral" rating and set a $10.00 price objective (down previously from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. Finally, UBS Group lowered 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $8.61.

Ready Capital Stock Up 0.1 %

NYSE RC traded up $0.01 during trading on Wednesday, hitting $6.86. The company's stock had a trading volume of 2,723,308 shares, compared to its average volume of 1,913,687. Ready Capital Co. has a fifty-two week low of $6.39 and a fifty-two week high of $9.53. The company has a market cap of $1.16 billion, a PE ratio of -9.79 and a beta of 1.43. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67. The business's 50 day simple moving average is $6.90 and its 200-day simple moving average is $7.37.

Ready Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 14.59%. The ex-dividend date was Tuesday, December 31st. Ready Capital's payout ratio is -142.86%.

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.