First Foundation Advisors Purchases 4,883 Shares of Ready Capital Co. (NYSE:RC)

First Foundation Advisors increased its holdings in shares of Ready Capital Co. (NYSE:RC) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 380,993 shares of the real estate investment trust’s stock after acquiring an additional 4,883 shares during the period. First Foundation Advisors owned about 0.23% of Ready Capital worth $3,478,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Waterfall Asset Management LLC acquired a new position in shares of Ready Capital during the fourth quarter worth approximately $40,067,000. Jump Financial LLC lifted its holdings in Ready Capital by 106.7% during the 4th quarter. Jump Financial LLC now owns 22,516 shares of the real estate investment trust’s stock worth $231,000 after buying an additional 11,625 shares in the last quarter. Norden Group LLC boosted its position in Ready Capital by 773.1% in the 1st quarter. Norden Group LLC now owns 128,163 shares of the real estate investment trust’s stock valued at $1,170,000 after buying an additional 113,484 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Ready Capital by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,300,267 shares of the real estate investment trust’s stock valued at $13,328,000 after buying an additional 30,730 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Ready Capital by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 11,163,763 shares of the real estate investment trust’s stock worth $114,429,000 after acquiring an additional 735,949 shares during the last quarter. 55.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Gilbert E. Nathan bought 10,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were bought at an average cost of $8.29 per share, with a total value of $82,900.00. Following the acquisition, the director now owns 95,249 shares in the company, valued at $789,614.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.09% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. LADENBURG THALM/SH SH cut shares of Ready Capital from a “buy” rating to a “neutral” rating in a research report on Friday, May 10th. BTIG Research assumed coverage on shares of Ready Capital in a report on Friday. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.93.

Ready Capital Stock Down 0.2 %

NYSE RC traded down $0.02 on Friday, reaching $9.36. The company had a trading volume of 1,645,276 shares, compared to its average volume of 1,581,347. The company’s fifty day moving average is $8.52 and its 200-day moving average is $8.87. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 5.81 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.76 and a current ratio of 1.76. Ready Capital Co. has a 1-year low of $7.93 and a 1-year high of $11.94.

Ready Capital (NYSE:RC) last posted 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 company had revenue of $232.35 million for the quarter, compared to the consensus estimate of $64.34 million. Ready Capital had a net margin of 23.81% and a return on equity of 8.11%. During the same period last year, the company earned $0.31 earnings per share. On average, research analysts forecast that Ready Capital Co. will post 1.17 earnings per share for the current fiscal year.

Ready Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, June 28th. This represents a $1.20 dividend on an annualized basis and a yield of 12.82%. Ready Capital’s payout ratio is 74.53%.

About Ready Capital

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.