UBS Group AG Increases Stock Position in Ready Capital Corp $RC

UBS Group AG lifted its position in shares of Ready Capital Corp (NYSE:RC) by 161.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,155,403 shares of the real estate investment trust’s stock after acquiring an additional 1,948,208 shares during the quarter. UBS Group AG’s holdings in Ready Capital were worth $6,879,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RC. Marshall Wace LLP purchased a new stake in shares of Ready Capital during the 2nd quarter worth approximately $6,542,000. Invesco Ltd. boosted its stake in shares of Ready Capital by 21.2% during the 3rd quarter. Invesco Ltd. now owns 4,239,678 shares of the real estate investment trust’s stock worth $16,408,000 after acquiring an additional 742,226 shares in the last quarter. Norden Group LLC boosted its stake in shares of Ready Capital by 218.0% during the 4th quarter. Norden Group LLC now owns 335,743 shares of the real estate investment trust’s stock worth $732,000 after acquiring an additional 230,147 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Ready Capital by 9.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,924,767 shares of the real estate investment trust’s stock worth $8,411,000 after acquiring an additional 164,918 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Ready Capital by 144.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 230,977 shares of the real estate investment trust’s stock worth $894,000 after acquiring an additional 136,423 shares in the last quarter. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Ready Capital Trading Down 1.5%

Shares of RC opened at $1.70 on Wednesday. The stock has a fifty day moving average of $1.73 and a two-hundred day moving average of $2.08. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market capitalization of $280.05 million, a PE ratio of -0.53 and a beta of 1.47. Ready Capital Corp has a fifty-two week low of $1.50 and a fifty-two week high of $4.75.

Ready Capital (NYSE:RC) last issued its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.18). Ready Capital had a negative net margin of 102.10% and a negative return on equity of 14.69%. The business had revenue of $130.55 million during the quarter, compared to analyst estimates of $68.67 million. As a group, analysts forecast that Ready Capital Corp will post -1.24 EPS for the current year.

Ready Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Tuesday, March 31st. Ready Capital’s payout ratio is currently -1.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RC shares. Piper Sandler decreased their price target on 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 restated a “sell (d)” rating on shares of Ready Capital in a research report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $2.81.

Insider Activity at Ready Capital

In related news, Director Gilbert E. Nathan acquired 30,000 shares of Ready Capital stock in a transaction on Friday, March 6th. The shares were bought at an average price of $1.95 per share, for a total transaction of $58,500.00. Following the completion of the purchase, the director directly owned 216,358 shares in the company, valued at $421,898.10. This trade represents a 16.10% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

About Ready Capital

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.