Ieq Capital LLC Makes New Investment in Ready Capital Corp $RC

Ieq Capital LLC bought a new stake in shares of Ready Capital Corp (NYSE:RC) in the 2nd quarter, HoldingsChannel reports. The fund bought 466,595 shares of the real estate investment trust’s stock, valued at approximately $817,000.

A number of other institutional investors and hedge funds also recently modified their holdings of RC. BlackRock Inc. acquired a new position in shares of Ready Capital in the 2nd quarter valued at about $31,059,000. Private Management Group Inc. lifted its holdings in Ready Capital by 197.0% in the fourth quarter. Private Management Group Inc. now owns 4,806,088 shares of the real estate investment trust’s stock worth $10,477,000 after acquiring an additional 3,188,135 shares during the last quarter. UBS Group AG lifted its holdings in Ready Capital by 161.4% in the fourth quarter. UBS Group AG now owns 3,155,403 shares of the real estate investment trust’s stock worth $6,879,000 after acquiring an additional 1,948,208 shares during the last quarter. Marshall Wace LLP acquired a new position in Ready Capital in the second quarter valued at approximately $6,542,000. Finally, Invesco Ltd. boosted its stake in Ready Capital by 21.2% in the third quarter. Invesco Ltd. now owns 4,239,678 shares of the real estate investment trust’s stock valued at $16,408,000 after acquiring an additional 742,226 shares during the period. 55.87% of the stock is owned by institutional investors and hedge funds.

Ready Capital Price Performance

NYSE RC opened at $1.84 on Friday. Ready Capital Corp has a 52 week low of $1.39 and a 52 week high of $4.46. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.97. The stock has a market cap of $304.78 million, a price-to-earnings ratio of -0.53 and a beta of 1.45. The company has a 50-day moving average price of $1.68 and a two-hundred day moving average price of $1.73.

Ready Capital (NYSE:RC) last released its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.01. The company had revenue of $151.87 million for the quarter, compared to analysts’ expectations of $16.41 million. Ready Capital had a negative return on equity of 16.78% and a negative net margin of 131.76%. Analysts forecast that Ready Capital Corp will post -0.99 EPS for the current year.

Ready Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 2.2%. The ex-dividend date was Tuesday, June 30th. Ready Capital’s dividend payout ratio (DPR) is currently -1.15%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RC shares. Zacks Research upgraded Ready Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. UBS Group lowered their price objective on Ready Capital from $2.50 to $2.00 and set a “neutral” rating for the company in a research note on Thursday, July 16th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ready Capital in a research report on Tuesday, June 2nd. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Ready Capital has an average rating of “Reduce” and a consensus price target of $2.17.

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.