Nordea Investment Management AB Acquires New Holdings in Ready Capital Corp (NYSE:RC)

Nordea Investment Management AB purchased a new stake in Ready Capital Corp (NYSE:RC) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 92,214 shares of the real estate investment trust’s stock, valued at approximately $1,352,000. Nordea Investment Management AB owned approximately 0.21% of Ready Capital as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. American Financial Group Inc. bought a new position in shares of Ready Capital during the 1st quarter worth about $21,714,000. TCW Group Inc. bought a new position in Ready Capital during the 1st quarter valued at about $15,382,000. Raymond James & Associates bought a new position in Ready Capital during the 1st quarter valued at about $12,378,000. Almitas Capital LLC bought a new position in Ready Capital during the 1st quarter valued at about $9,790,000. Finally, State of New Jersey Common Pension Fund D bought a new position in Ready Capital during the 1st quarter valued at about $2,786,000. Institutional investors and hedge funds own 36.94% of the company’s stock.

RC traded down $0.16 during trading on Friday, reaching $15.00. The company had a trading volume of 108,996 shares, compared to its average volume of 164,968. The company’s fifty day moving average price is $14.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $673.03 million, a P/E ratio of 8.52 and a beta of 0.76. Ready Capital Corp has a 12 month low of $13.44 and a 12 month high of $17.30.

Ready Capital (NYSE:RC) last announced its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.08). Ready Capital had a return on equity of 8.73% and a net margin of 31.79%. The business had revenue of $12.98 million during the quarter, compared to the consensus estimate of $15.00 million. On average, research analysts expect that Ready Capital Corp will post 1.59 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a $0.40 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.60 annualized dividend and a dividend yield of 10.67%. Ready Capital’s dividend payout ratio is currently 90.91%.

In related news, Director Todd M. Sinai acquired 3,500 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were purchased at an average cost of $14.74 per share, for a total transaction of $51,590.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.83% of the stock is owned by insiders.

Several equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Hallmark Financial Services from a “buy” rating to a “hold” rating in a report on Thursday. ValuEngine upgraded shares of Yandex from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $17.08.

About Ready Capital

Ready Capital Corporation operates as a real estate finance company in the United States. The company originates, acquires, finances, and services small balance commercial (SBC) loans, small business administration (SBA) loans, and residential mortgage loans, as well as mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.

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

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