Illumine Investment Management LLC Takes Position in Ready Capital Co. (NYSE:RC)

Illumine Investment Management LLC bought a new stake in Ready Capital Co. (NYSE:RC) in the 4th quarter, Holdings Channel.com reports. The fund bought 20,381 shares of the real estate investment trust’s stock, valued at approximately $139,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Louisiana State Employees Retirement System increased its holdings in shares of Ready Capital by 4.0% in the 3rd quarter. Louisiana State Employees Retirement System now owns 81,300 shares of the real estate investment trust’s stock valued at $620,000 after acquiring an additional 3,100 shares during the period. State of Alaska Department of Revenue boosted its position in Ready Capital by 5.2% during the third quarter. State of Alaska Department of Revenue now owns 95,992 shares of the real estate investment trust’s stock worth $732,000 after purchasing an additional 4,775 shares in the last quarter. Van ECK Associates Corp grew its holdings in Ready Capital by 1.8% in the third quarter. Van ECK Associates Corp now owns 1,366,040 shares of the real estate investment trust’s stock valued at $9,508,000 after purchasing an additional 23,970 shares during the last quarter. United Advisor Group LLC acquired a new position in shares of Ready Capital during the 3rd quarter worth $151,000. Finally, Principal Financial Group Inc. boosted its position in shares of Ready Capital by 3.3% in the 3rd quarter. Principal Financial Group Inc. now owns 792,536 shares of the real estate investment trust’s stock worth $6,047,000 after buying an additional 25,545 shares in the last quarter. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RC has been the subject of a number of analyst reports. UBS Group cut their price objective on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Friday, November 15th. Keefe, Bruyette & Woods dropped their price target on shares of Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a research note on Tuesday, January 14th. B. Riley restated a “neutral” rating and set a $10.00 price objective (down previously from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. Finally, JMP Securities decreased 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 report on Thursday, December 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Ready Capital has an average rating of “Hold” and an average price target of $8.61.

Ready Capital Stock Down 1.2 %

NYSE:RC opened at $6.81 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -9.72 and a beta of 1.43. The stock has a 50-day moving average price of $6.84 and a two-hundred day moving average price of $7.30. Ready Capital Co. has a 1 year low of $6.39 and a 1 year high of $9.53.

Ready Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 14.70%. The ex-dividend date of this dividend was Tuesday, December 31st. Ready Capital’s dividend payout ratio (DPR) is presently -142.86%.

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.