Ready Capital Co. (NYSE:RC) Stock Holdings Trimmed by Truvestments Capital LLC

Truvestments Capital LLC lowered its holdings in shares of Ready Capital Co. (NYSE:RC) by 35.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,291 shares of the real estate investment trust’s stock after selling 2,886 shares during the period. Truvestments Capital LLC’s holdings in Ready Capital were worth $48,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp raised its stake in Ready Capital by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 138,085 shares of the real estate investment trust’s stock valued at $1,261,000 after acquiring an additional 1,718 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Ready Capital by 2.1% in the 1st quarter. Illinois Municipal Retirement Fund now owns 95,051 shares of the real estate investment trust’s stock worth $868,000 after buying an additional 1,992 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Ready Capital by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 32,261 shares of the real estate investment trust’s stock worth $295,000 after buying an additional 2,209 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Ready Capital by 19.5% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 13,801 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 2,248 shares in the last quarter. Finally, HBK Sorce Advisory LLC raised its stake in shares of Ready Capital by 3.6% in the 1st quarter. HBK Sorce Advisory LLC now owns 67,077 shares of the real estate investment trust’s stock worth $612,000 after buying an additional 2,317 shares in the last quarter. Institutional investors own 55.87% of the company’s stock.

Insider Activity at Ready Capital

In other news, Director Gilbert E. Nathan acquired 10,000 shares of Ready Capital stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average price of $8.29 per share, with a total value of $82,900.00. Following the completion of the transaction, the director now owns 95,249 shares in the company, valued at $789,614.21. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RC shares. LADENBURG THALM/SH SH cut Ready Capital from a “buy” rating to a “neutral” rating in a report on Friday, May 10th. BTIG Research started coverage on Ready Capital in a report on Friday, July 19th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently 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 on Friday, reaching $9.32. 1,058,649 shares of the company’s stock traded hands, compared to its average volume of 1,566,968. Ready Capital Co. has a 12-month low of $7.93 and a 12-month high of $11.83. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market capitalization of $1.57 billion, a P/E ratio of 5.79 and a beta of 1.43. The business’s 50 day moving average price is $8.57 and its two-hundred day moving average price is $8.85.

Ready Capital (NYSE:RC) last released its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $232.35 million during 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 quarter last year, the firm earned $0.31 earnings per share. On average, equities analysts forecast that Ready Capital Co. will post 1.17 earnings per share for the current year.

Ready Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given 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 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.