Bridgewater Advisors Inc. Sells 2,425 Shares of Ready Capital Co. (NYSE:RC)

Bridgewater Advisors Inc. lessened its position in shares of Ready Capital Co. (NYSE:RC) by 7.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,786 shares of the real estate investment trust’s stock after selling 2,425 shares during the quarter. Bridgewater Advisors Inc.’s holdings in Ready Capital were worth $326,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Illinois Municipal Retirement Fund purchased a new stake in shares of Ready Capital during the 3rd quarter valued at about $950,000. Mariner LLC lifted its stake in shares of Ready Capital by 2.2% in the 3rd quarter. Mariner LLC now owns 779,864 shares of the real estate investment trust’s stock valued at $7,884,000 after purchasing an additional 16,532 shares during the last quarter. Bailard Inc. lifted its stake in shares of Ready Capital by 50.1% in the 4th quarter. Bailard Inc. now owns 60,800 shares of the real estate investment trust’s stock valued at $623,000 after purchasing an additional 20,300 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Ready Capital by 14.4% in the 3rd quarter. Penserra Capital Management LLC now owns 43,761 shares of the real estate investment trust’s stock worth $442,000 after purchasing an additional 5,512 shares during the period. Finally, Integrated Advisors Network LLC bought a new position in shares of Ready Capital during the 3rd quarter valued at approximately $124,000. Institutional investors own 55.87% of the company’s stock.

Insider Activity at Ready Capital

In related news, Director Gilbert E. Nathan acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $8.65 per share, with a total value of $86,500.00. Following the acquisition, the director now directly owns 83,099 shares in the company, valued at approximately $718,806.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Kevin M. Luebbers purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were bought at an average price of $8.43 per share, for a total transaction of $42,150.00. Following the completion of the transaction, the director now owns 119,925 shares in the company, valued at $1,010,967.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gilbert E. Nathan acquired 10,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost of $8.65 per share, with a total value of $86,500.00. Following the acquisition, the director now directly owns 83,099 shares of the company’s stock, valued at approximately $718,806.35. The disclosure for this purchase can be found here. Insiders acquired 17,150 shares of company stock worth $148,280 over the last three months. Company insiders own 0.95% of the company’s stock.

Ready Capital Stock Performance

NYSE:RC traded down $0.29 during midday trading on Tuesday, hitting $8.52. The company’s stock had a trading volume of 1,706,648 shares, compared to its average volume of 1,414,525. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.89 and a quick ratio of 1.89. Ready Capital Co. has a fifty-two week low of $8.25 and a fifty-two week high of $11.97. The firm’s 50 day moving average is $8.79 and its 200-day moving average is $9.56. The firm has a market cap of $1.47 billion, a P/E ratio of 3.64 and a beta of 1.40.

Ready Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.20 annualized dividend and a dividend yield of 14.08%. Ready Capital’s dividend payout ratio (DPR) is presently 51.28%.

Analysts Set New Price Targets

RC has been the subject of several recent analyst reports. BTIG Research dropped their target price on Ready Capital from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. StockNews.com downgraded shares of Ready Capital from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. B. Riley reissued a “buy” rating and set a $12.00 target price (down previously from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 price target (down previously from $10.00) on shares of Ready Capital in a report on Monday, March 4th. Finally, UBS Group dropped their target price on shares of Ready Capital from $10.50 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.93.

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.