Ready Capital Co. (NYSE:RC) Shares Bought by Barclays PLC

Barclays PLC grew its stake in Ready Capital Co. (NYSE:RC) by 205.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 484,986 shares of the real estate investment trust’s stock after purchasing an additional 326,467 shares during the period. Barclays PLC owned approximately 0.29% of Ready Capital worth $3,699,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. KBC Group NV increased its position 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 worth $63,000 after purchasing an additional 3,248 shares during the period. Xponance Inc. acquired a new position in Ready Capital during the second quarter worth $84,000. Choreo LLC purchased a new position in Ready Capital in the second quarter worth $91,000. Modera Wealth Management LLC acquired a new stake in Ready Capital in the third quarter valued at $107,000. Finally, Naviter Wealth LLC boosted its position in shares of Ready Capital by 35.0% during the 2nd quarter. Naviter Wealth LLC now owns 13,500 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 3,500 shares in the last quarter. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on RC. Piper Sandler reduced their price objective on shares of Ready Capital from $9.50 to $8.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. UBS Group decreased their price target 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, JMP Securities dropped their price objective on 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $9.11.

Ready Capital Price Performance

RC stock opened at $7.26 on Monday. The stock’s 50 day moving average price is $7.19 and its 200 day moving average price is $7.93. The firm has a market cap of $1.22 billion, a P/E ratio of -10.37 and a beta of 1.43. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. Ready Capital Co. has a 1 year low of $6.65 and a 1 year high of $11.11.

Ready Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 13.77%. The ex-dividend date is Tuesday, December 31st. Ready Capital’s payout ratio is currently -142.86%.

About Ready Capital

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.