Cwm LLC Buys 1,634 Shares of Ready Capital Co. (NYSE:RC)

Cwm LLC increased its stake in shares of Ready Capital Co. (NYSE:RC) by 94.6% in the second quarter, Holdings Channel reports. The firm owned 3,361 shares of the real estate investment trust’s stock after buying an additional 1,634 shares during the quarter. Cwm LLC’s holdings in Ready Capital were worth $27,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. EdgeRock Capital LLC acquired a new position in shares of Ready Capital during the 4th quarter worth about $36,000. EntryPoint Capital LLC bought a new position in Ready Capital during the 1st quarter worth approximately $40,000. MCF Advisors LLC acquired a new position in Ready Capital during the first quarter valued at approximately $42,000. Naviter Wealth LLC bought a new stake in Ready Capital in the first quarter valued at approximately $94,000. Finally, Cadence Bank acquired a new stake in Ready Capital in the first quarter worth $91,000. Institutional investors own 55.87% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on RC. Wedbush reiterated a “neutral” rating and set a $9.00 target price on shares of Ready Capital in a report on Monday, August 12th. Keefe, Bruyette & Woods cut their price objective on Ready Capital from $8.00 to $7.75 and set an “underperform” rating on the stock in a report on Monday, August 12th. BTIG Research initiated coverage on Ready Capital in a research note on Friday, July 19th. They set a “neutral” rating for the company. Finally, LADENBURG THALM/SH SH downgraded shares of Ready Capital from a “buy” rating to a “neutral” rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Ready Capital presently has an average rating of “Hold” and a consensus target price of $10.04.

Ready Capital Stock Performance

NYSE RC opened at $8.40 on Friday. Ready Capital Co. has a 12-month low of $7.93 and a 12-month high of $11.67. The firm has a 50-day moving average price of $8.71 and a two-hundred day moving average price of $8.71. The company has a market capitalization of $1.41 billion, a P/E ratio of 5.21 and a beta of 1.43. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.52.

Ready Capital (NYSE:RC) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.19). The company had revenue of $234.12 million during the quarter, compared to the consensus estimate of $61.77 million. Ready Capital had a positive return on equity of 7.32% and a negative net margin of 5.67%. During the same quarter in the previous year, the business posted $0.35 EPS. Analysts anticipate that Ready Capital Co. will post 1.03 earnings per share for the current year.

Ready Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 14.29%. The ex-dividend date of this dividend was Friday, June 28th. Ready Capital’s dividend payout ratio is presently 74.53%.

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.