Inceptionr LLC Has $474,000 Position in Ready Capital Co. (NYSE:RC)

Inceptionr LLC increased its holdings in shares of Ready Capital Co. (NYSE:RC) by 14.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,564 shares of the real estate investment trust’s stock after acquiring an additional 8,696 shares during the period. Inceptionr LLC’s holdings in Ready Capital were worth $474,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in RC. Steward Partners Investment Advisory LLC lifted its holdings in Ready Capital by 3,075.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 6,150 shares during the last quarter. Avion Wealth bought a new position in Ready Capital during the 4th quarter valued at about $47,000. KBC Group NV lifted its holdings in Ready Capital by 64.1% during the 3rd quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 3,248 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Ready Capital during the 4th quarter valued at about $69,000. Finally, Ieq Capital LLC bought a new position in Ready Capital during the 4th quarter valued at about $99,000. 55.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JMP Securities dropped their target price on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research note on Thursday, December 12th. UBS Group dropped their target price on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Friday, November 15th. Wedbush reaffirmed a “neutral” rating and issued a $6.00 target price (down from $8.00) on shares of Ready Capital in a research note on Tuesday, March 4th. B. Riley reaffirmed a “neutral” rating and issued a $10.00 target price (down from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. Finally, Citizens Jmp downgraded shares of Ready Capital from an “outperform” rating to a “market perform” rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.86.

Ready Capital Trading Up 6.9 %

RC opened at $5.35 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67. The company has a market cap of $872.37 million, a price-to-earnings ratio of -7.64 and a beta of 1.43. The firm has a 50 day simple moving average of $6.60 and a 200 day simple moving average of $7.17. Ready Capital Co. has a fifty-two week low of $4.74 and a fifty-two week high of $9.53.

Ready Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 9.35%. The ex-dividend date of this dividend is Monday, March 31st. Ready Capital’s dividend payout ratio (DPR) is -18.94%.

Insider Buying and Selling

In other news, CEO Thomas E. Capasse acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $4.80 per share, for a total transaction of $48,000.00. Following the completion of the acquisition, the chief executive officer now owns 319,925 shares in the company, valued at $1,535,640. This trade represents a 3.23 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.09% of the stock is currently owned by insiders.

Ready Capital 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.