EdgeRock Capital LLC Invests $36,000 in Ready Capital Co. (NYSE:RC)

EdgeRock Capital LLC bought a new position in Ready Capital Co. (NYSE:RC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,514 shares of the real estate investment trust’s stock, valued at approximately $36,000.

Other institutional investors have also recently modified their holdings of the company. Bear Mountain Capital Inc. purchased a new stake in shares of Ready Capital in the fourth quarter worth $30,000. Allspring Global Investments Holdings LLC grew its stake in shares of Ready Capital by 112.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the real estate investment trust’s stock worth $77,000 after acquiring an additional 4,039 shares during the last quarter. Denali Advisors LLC purchased a new stake in shares of Ready Capital in the fourth quarter worth $102,000. Anfield Capital Management LLC purchased a new stake in shares of Ready Capital in the third quarter worth $103,000. Finally, Wolverine Asset Management LLC grew its stake in shares of Ready Capital by 23.2% in the third quarter. Wolverine Asset Management LLC now owns 10,605 shares of the real estate investment trust’s stock worth $107,000 after acquiring an additional 2,000 shares during the last quarter. 55.87% of the stock is owned by hedge funds and other institutional investors.

Ready Capital Stock Performance

RC stock traded down $0.23 during trading on Wednesday, reaching $8.45. The stock had a trading volume of 3,007,267 shares, compared to its average volume of 1,423,542. Ready Capital Co. has a 52 week low of $8.25 and a 52 week high of $11.97. The stock’s 50 day moving average is $8.75 and its two-hundred day moving average is $9.49. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.44. The firm has a market cap of $1.43 billion, a PE ratio of 3.61 and a beta of 1.41.

Ready Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 14.20%. The ex-dividend date of this dividend was Wednesday, March 27th. Ready Capital’s dividend payout ratio is 51.28%.

Insider Buying and Selling at Ready Capital

In other news, Director Gilbert E. Nathan bought 10,000 shares of the stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $8.65 per share, with a total value of $86,500.00. Following the completion of the acquisition, the director now owns 83,099 shares in the company, valued at $718,806.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Gilbert E. Nathan acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $8.65 per share, with a total value of $86,500.00. Following the completion of the purchase, the director now directly owns 83,099 shares of the company’s stock, valued at $718,806.35. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kevin M. Luebbers acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was bought at an average cost of $8.43 per share, for a total transaction of $42,150.00. Following the purchase, the director now directly owns 119,925 shares of the company’s stock, valued at $1,010,967.75. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 17,150 shares of company stock valued at $148,280. 0.95% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on RC shares. B. Riley reaffirmed a “buy” rating and set a $12.00 price objective (down from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 price objective (down from $10.00) on shares of Ready Capital in a research report on Monday, March 4th. UBS Group dropped their price objective on Ready Capital from $10.50 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 20th. BTIG Research dropped their price objective on Ready Capital from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Finally, StockNews.com cut Ready Capital from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.