Mirae Asset Global Investments Co. Ltd. decreased its stake in Ready Capital Co. (NYSE: RC – Get Rating) by 10.1% in Q1, according to the company in its latest filing with the Securities and Exchange Commission. The company held 617,494 shares of the REIT after selling 69,189 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.74% of Ready Capital worth $9,299,000 at the time of its last filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently changed their positions in RC. Principal Financial Group Inc. increased its stake in Ready Capital by 13.2% in the first quarter. Principal Financial Group Inc. now owns 444,511 shares of the real estate investment trust worth $6,694,000 after purchasing an additional 51,993 shares during the period. The Swiss National Bank increased its position in shares of Ready Capital by 11.0% during the 1st quarter. The Swiss National Bank now owns 139,245 shares of the real estate investment trust worth $2,097,000 after buying an additional 13,800 shares last quarter. Mutual Advisors LLC increased its stake in Ready Capital by 19.3% during the first quarter. Mutual Advisors LLC now owns 15,607 shares of the real estate investment trust worth $235,000 after purchasing 2,523 additional shares during the period. Teacher Retirement System of Texas increased its stake in Ready Capital by 9.8% in the first quarter. Teacher Retirement System of Texas now owns 12,124 shares of the real estate investment trust worth $183,000 after buying 1,078 additional shares in the last quarter. Finally, Claybrook Capital LLC increased its stake in Ready Capital by 24.8% in the first quarter. Claybrook Capital LLC now owns 113,299 shares of the real estate investment trust valued at $1,706,000 after purchasing an additional 22,479 shares during the period. 41.03% of the shares are held by institutional investors and hedge funds.
A Wall Street analyst gives his opinion
Several brokerages have recently commented on RC. TheStreet upgraded shares of Ready Capital from a “c” rating to a “b-” rating in a Monday, August 15 research report. Piper Sandler lowered its price target on shares of Ready Capital from $16.00 to $14.00 and set a “neutral” rating on the stock in a Tuesday, June 28 report. Two investment analysts gave the stock a hold rating and two gave the company a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.67.
Performance of loan capital stock
NYSE RC opened at $13.73 on Friday. The company has a market capitalization of $1.57 billion, a P/E ratio of 5.74 and a beta of 1.13. The company has a fifty-day simple moving average of $12.86 and a 200-day simple moving average of $14.12. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt ratio of 0.55. Ready Capital Co. has a 12-month low of $11.05 and a 12-month high of $16.56.
Ready Capital announces a dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 29. Investors of record on Thursday, June 30 received a dividend of $0.42. The ex-dividend date was Wednesday, June 29. This represents a dividend of $1.68 on an annualized basis and a dividend yield of 12.24%. Ready Capital’s dividend payout ratio is currently 70.29%.
Loan capital profile
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Ready Capital Corporation operates as a real estate finance company in the United States. The company acquires, originates, manages, services and funds low-to-medium balance commercial loans (SBCs), small business administration loans (SBAs), residential mortgage loans and mortgage-backed securities secured primarily by SBC loans or other real estate. investments.
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