Norden Group LLC Acquires 9,286 Shares of Ready Capital Co. (NYSE:RC)

Norden Group LLC boosted its holdings in Ready Capital Co. (NYSE:RC) by 55.4% in the 4th quarter, HoldingsChannel reports. The firm owned 26,038 shares of the real estate investment trust’s stock after purchasing an additional 9,286 shares during the quarter. Norden Group LLC’s holdings in Ready Capital were worth $178,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Barclays PLC increased its holdings in shares of Ready Capital by 205.9% in the third quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust’s stock worth $3,699,000 after purchasing an additional 326,467 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Ready Capital by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,868,580 shares of the real estate investment trust’s stock valued at $14,257,000 after buying an additional 195,663 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Ready Capital by 50.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 336,773 shares of the real estate investment trust’s stock worth $2,570,000 after acquiring an additional 112,934 shares during the last quarter. GraniteShares Advisors LLC purchased a new stake in shares of Ready Capital during the 4th quarter worth approximately $2,480,000. Finally, Geode Capital Management LLC boosted its position in shares of Ready Capital by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust’s stock valued at $29,292,000 after acquiring an additional 150,479 shares during the last quarter. 55.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. B. Riley restated a “neutral” rating and issued a $10.00 price target (down previously from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. JMP Securities reduced their target price on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a report on Thursday, December 12th. Keefe, Bruyette & Woods lowered their price target on shares of Ready Capital from $6.25 to $4.00 and set an “underperform” rating for the company in a report on Wednesday. UBS Group reduced their price objective on Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Finally, Citizens Jmp lowered Ready Capital from an “outperform” rating to a “market perform” rating in a research note on Monday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.86.

Ready Capital Stock Up 0.1 %

Shares of NYSE:RC opened at $4.96 on Thursday. 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 business has a 50 day simple moving average of $6.73 and a two-hundred day simple moving average of $7.23. Ready Capital Co. has a 1 year low of $4.74 and a 1 year high of $9.53. The firm has a market capitalization of $835.07 million, a PE ratio of -7.08 and a beta of 1.43.

Ready Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 10.09%. The ex-dividend date is Monday, March 31st. Ready Capital’s payout ratio 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.