Kovack Advisors Inc. Increases Position in Ready Capital Co. (NYSE:RC)

Kovack Advisors Inc. increased its holdings in Ready Capital Co. (NYSE:RC – Free Report) by 25.2% during the first quarter, according to its latest filing with the SEC. The institutional investor owned 18,789 shares of the real estate investment trust after purchasing an additional 3,780 shares during the period. Kovack Advisors Inc.’s holdings in Ready Capital were worth $172,000 as of its latest SEC filing.

A number of other institutional investors and hedge funds have also recently modified their positions in RC. Northern Trust Corp increased its position in Ready Capital by 0.4% during the third quarter. Northern Trust Corp now owns 2,037,068 shares of the real estate investment trust’s stock valued at $20,595,000 after purchasing an additional 7,610 shares in the last quarter. Natixis Advisors LP purchased a new stake in Ready Capital during the third quarter valued at approximately $209,000. Penserra Capital Management LLC increased its position in Ready Capital by 14.4% during the third quarter. Penserra Capital Management LLC now owns 43,761 shares of the real estate investment trust’s stock valued at $442,000 after purchasing an additional 5,512 shares in the last quarter. Integrated Advisors Network LLC purchased a new stake in Ready Capital during the third quarter valued at approximately $124,000. Finally, Wellington Management Group LLP acquired a new stake in Ready Capital during the third quarter, valued at approximately $4,069,000. Hedge funds and other institutional investors hold 55.87% of the company’s shares.

Ready Capital stock fell 0.5%

The NYSE RC opened at $8.31 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76, and a liquidity ratio of 1.76. The stock has a market cap of $1.40 billion, a PE ratio of 5.16, and a beta of 1.43. Ready Capital Co. has a 1-year low of $7.93 and a 1-year high of $11.97. The company’s 50-day moving average is $8.44 and its 200-day moving average is $9.00.

Ready Capital (NYSE:RC – Get Free Report) last reported its financial results on Wednesday, May 8th. The real estate investment trust reported earnings per share (EPS) of $0.29 for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $232.35 million for the quarter, compared to analysts’ expectations of $64.34 million. Ready Capital had a return on equity of 8.11% and a net margin of 23.81%. During the same period last year, the company earned earnings per share of $0.31. Sell-side analysts expect Ready Capital Co. to post earnings per share of $1.17 for the current year.

Ready Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31. Shareholders of record as of Friday, June 28 will receive a dividend of $0.30 per share. The ex-dividend date for this dividend is Friday, June 28. This represents an annualized dividend of $1.20 and a yield of 14.45%. Ready Capital’s payout ratio is 74.53%.

Wall Street analysts predict growth

RC has been the subject of several analyst reports. UBS Group lowered their price target on Ready Capital from $10.50 to $9.50 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. BTIG Research lowered their price target on Ready Capital from $12.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, LADENBURG THALM/SH SH lowered their rating on Ready Capital from “buy” to “neutral” in a report on Friday, May 10th. One equities research analyst has given the stock a sell rating, five have given a hold rating, and two have given a buy rating. Based on data from MarketBeat, Ready Capital has a consensus rating of “hold” and an average price target of $10.93.

Read our latest analysis on RC

Insider Buying and Selling at Ready Capital

In other news, Director Gilbert E. Nathan acquired 10,000 shares of the company’s stock in a transaction on Friday, May 24th. The shares were purchased at an average cost of $8.29 per share, for a total value of $82,900.00. Following the transaction, the Director now owns 95,249 shares of the company’s stock, valued at approximately $789,614.21. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.09% of the company’s stock.

About Ready Capital

(Free report)

Ready Capital Corporation is 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 middle market (LLM) commercial real estate loans, Small Business Administration (SBA) loans, residential mortgage loans, construction loans and mortgage-backed securities secured primarily by LLM loans or other real estate-related investments.

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