Quantbot Technologies LP Takes Position in Ready Capital Co. (NYSE:RC)

Quantbot Technologies LP purchased a new stake in shares of Ready Capital Co. (NYSE:RC) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 131,763 shares of the real estate investment trust’s stock, valued at approximately $1,005,000. Quantbot Technologies LP owned approximately 0.08% of Ready Capital at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CWM LLC increased its position in shares of Ready Capital by 94.6% during the 2nd quarter. CWM LLC now owns 3,361 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 1,634 shares during the last quarter. KBC Group NV lifted its position in shares of 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 buying an additional 3,248 shares during the last quarter. Xponance Inc. bought a new position in shares of Ready Capital during the 2nd quarter worth $84,000. Choreo LLC purchased a new stake in Ready Capital during the 2nd quarter worth about $91,000. Finally, B. Riley Wealth Advisors Inc. boosted its stake in Ready Capital by 12.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 12,970 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 1,455 shares during the period. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on RC. Wedbush reiterated a “neutral” rating and issued a $9.00 target price on shares of Ready Capital in a research note on Monday, August 12th. Keefe, Bruyette & Woods lowered their price objective on Ready Capital from $8.00 to $7.75 and set an “underperform” rating on the stock in a research report on Monday, August 12th. Piper Sandler decreased their price objective on Ready Capital from $9.50 to $8.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, UBS Group cut their target price on Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $9.04.

Ready Capital Stock Down 0.7 %

Shares of NYSE:RC opened at $7.37 on Monday. Ready Capital Co. has a 12-month low of $6.65 and a 12-month high of $11.67. 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’s 50-day moving average price is $7.23 and its 200-day moving average price is $8.04. The stock has a market capitalization of $1.24 billion, a P/E ratio of -10.53 and a beta of 1.42.

Ready Capital Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 13.57%. Ready Capital’s dividend payout ratio (DPR) is currently -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.