10,000 Shares in Ready Capital Co. (NYSE:RC) Bought by Cadence Bank

Cadence Bank purchased a new position in Ready Capital Co. (NYSE:RC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,000 shares of the real estate investment trust’s stock, valued at approximately $91,000.

Other large investors also recently bought and sold shares of the company. Bear Mountain Capital Inc. bought a new position in Ready Capital during the fourth quarter valued at $30,000. EdgeRock Capital LLC bought a new position in Ready Capital during the fourth quarter valued at $36,000. EntryPoint Capital LLC bought a new position in Ready Capital during the first quarter valued at $40,000. MCF Advisors LLC bought a new position in Ready Capital during the first quarter valued at $42,000. Finally, Naviter Wealth LLC bought a new position in Ready Capital during the first quarter valued at $94,000. Institutional investors own 55.87% of the company’s stock.

Insider Transactions at Ready Capital

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

Analyst Upgrades and Downgrades

RC has been the subject of a number of recent analyst reports. BTIG Research initiated coverage on shares of Ready Capital in a research note on Friday, July 19th. They set a “neutral” rating for the company. LADENBURG THALM/SH SH lowered shares of Ready Capital from a “buy” rating to a “neutral” rating in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Ready Capital presently has a consensus rating of “Hold” and an average price target of $10.93.

Ready Capital Stock Up 2.1 %

Shares of RC stock traded up $0.19 during mid-day trading on Friday, hitting $9.32. 1,058,624 shares of the stock traded hands, compared to its average volume of 1,446,693. The stock has a market cap of $1.57 billion, a P/E ratio of 5.74 and a beta of 1.43. The stock’s fifty day moving average is $8.56 and its two-hundred day moving average is $8.86. Ready Capital Co. has a 52-week low of $7.93 and a 52-week high of $11.83. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.76.

Ready Capital (NYSE:RC) last issued its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Ready Capital had a net margin of 23.81% and a return on equity of 8.11%. The company had revenue of $232.35 million for the quarter, compared to the consensus estimate of $64.34 million. During the same quarter in the prior year, the company earned $0.31 EPS. Equities analysts predict that Ready Capital Co. will post 1.17 EPS for the current year.

Ready Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 12.88%. Ready Capital’s payout ratio is 74.53%.

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.