Ready Capital (NYSE:RC) Director Gilbert Nathan Purchases 10,000 Shares of Stock

Ready Capital Corp (NYSE:RC) Director Gilbert Nathan acquired 10,000 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was purchased at an average cost of $2.02 per share, with a total value of $20,200.00. Following the completion of the transaction, the director owned 128,106 shares in the company, valued at $258,774.12. The trade was a 8.47% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Ready Capital Stock Down 2.9%

Shares of NYSE RC opened at $1.87 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.48 and a current ratio of 1.48. Ready Capital Corp has a 1 year low of $1.55 and a 1 year high of $5.48. The stock’s 50-day simple moving average is $2.02 and its 200-day simple moving average is $2.81. The firm has a market cap of $303.77 million, a price-to-earnings ratio of -1.27 and a beta of 1.45.

Ready Capital (NYSE:RC) last issued its quarterly earnings results on Thursday, February 26th. The real estate investment trust reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. Ready Capital had a negative return on equity of 10.29% and a negative net margin of 39.55%.The firm had revenue of $207.55 million during the quarter, compared to the consensus estimate of $133.50 million. As a group, equities analysts anticipate that Ready Capital Corp will post 0.93 earnings per share for the current fiscal year.

Ready Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, December 31st. Ready Capital’s dividend payout ratio is presently -2.72%.

Wall Street Analysts Forecast Growth

RC has been the subject of a number of recent analyst reports. UBS Group decreased their price target on shares of Ready Capital from $3.50 to $2.75 and set a “neutral” rating for the company in a research report on Friday, November 14th. Piper Sandler reduced their price objective on shares of Ready Capital from $2.50 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, March 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Ready Capital in a report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Ready Capital from $3.50 to $2.50 and set an “underperform” rating for the company in a research report on Wednesday, November 12th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Ready Capital presently has a consensus rating of “Reduce” and an average price target of $2.81.

Institutional Investors Weigh In On Ready Capital

A number of institutional investors have recently made changes to their positions in the company. Private Management Group Inc. increased its holdings in shares of Ready Capital by 197.0% in the 4th quarter. Private Management Group Inc. now owns 4,806,088 shares of the real estate investment trust’s stock valued at $10,477,000 after acquiring an additional 3,188,135 shares during the last quarter. Invesco Ltd. lifted its stake in Ready Capital by 21.2% during the third quarter. Invesco Ltd. now owns 4,239,678 shares of the real estate investment trust’s stock worth $16,408,000 after purchasing an additional 742,226 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Ready Capital by 1.5% in the second quarter. Geode Capital Management LLC now owns 4,023,581 shares of the real estate investment trust’s stock worth $17,585,000 after purchasing an additional 58,899 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Ready Capital by 14.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,249,324 shares of the real estate investment trust’s stock valued at $7,084,000 after purchasing an additional 402,173 shares during the last quarter. Finally, UBS Group AG increased its stake in Ready Capital by 161.4% during the fourth quarter. UBS Group AG now owns 3,155,403 shares of the real estate investment trust’s stock valued at $6,879,000 after purchasing an additional 1,948,208 shares during the last quarter. 55.87% of the stock is currently owned by institutional investors.

Ready Capital Company Profile

Ready Capital Corporation is a specialty finance real estate investment trust (REIT) that originates, acquires and manages commercial real estate loans and related assets. The company offers financing solutions across a variety of property types, including multifamily, office, retail, industrial, hospitality and mixed-use assets. Ready Capital focuses on delivering flexible loan structures to meet the diverse needs of borrowers in the small balance and middle-market sectors.

Through its small balance commercial real estate lending platform, Ready Capital provides loans typically ranging from $1 million to $15 million for acquisitions, refinancings, renovations and bridge financing.