Madison Park Capital Advisors LLC Purchases New Position in Ready Capital Co. (NYSE:RC)

Madison Park Capital Advisors LLC purchased a new stake in Ready Capital Co. (NYSE:RC) in the fourth quarter, Holdings Channel reports. The firm purchased 49,550 shares of the real estate investment trust’s stock, valued at approximately $508,000.

A number of other large investors have also recently modified their holdings of the company. Bear Mountain Capital Inc. purchased a new stake in Ready Capital during the fourth quarter worth $30,000. Allspring Global Investments Holdings LLC lifted its holdings in Ready Capital by 112.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the real estate investment trust’s stock worth $77,000 after buying an additional 4,039 shares during the period. Denali Advisors LLC purchased a new stake in Ready Capital during the fourth quarter worth $102,000. Anfield Capital Management LLC purchased a new stake in Ready Capital during the third quarter worth $103,000. Finally, Wolverine Asset Management LLC lifted its holdings in Ready Capital by 23.2% during the third quarter. Wolverine Asset Management LLC now owns 10,605 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Ready Capital Stock Performance

Shares of NYSE RC traded up $0.15 during mid-day trading on Tuesday, hitting $8.87. The stock had a trading volume of 1,071,513 shares, compared to its average volume of 1,426,040. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.89 and a current ratio of 1.89. The company has a 50 day moving average of $8.82 and a two-hundred day moving average of $9.60. Ready Capital Co. has a twelve month low of $8.25 and a twelve month high of $11.97. The firm has a market cap of $1.53 billion, a PE ratio of 3.80 and a beta of 1.40.

Ready Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 13.54%. The ex-dividend date of this dividend is Wednesday, March 27th. Ready Capital’s payout ratio is 51.28%.

Insider Activity at Ready Capital

In other Ready Capital news, Director Gilbert E. Nathan purchased 10,000 shares of the stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $8.65 per share, with a total value of $86,500.00. Following the completion of the acquisition, the director now owns 83,099 shares in the company, valued at $718,806.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Ready Capital news, Director Kevin M. Luebbers purchased 5,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were bought at an average cost of $8.43 per share, with a total value of $42,150.00. Following the completion of the acquisition, the director now owns 119,925 shares in the company, valued at $1,010,967.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gilbert E. Nathan purchased 10,000 shares of the stock in a transaction on Thursday, March 14th. The stock was acquired at an average cost of $8.65 per share, for a total transaction of $86,500.00. Following the completion of the acquisition, the director now owns 83,099 shares of the company’s stock, valued at approximately $718,806.35. The disclosure for this purchase can be found here. Insiders have bought a total of 17,150 shares of company stock valued at $148,280 in the last ninety days. Company insiders own 0.95% of the company’s stock.

Analysts Set New Price Targets

RC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 target price (down previously from $10.00) on shares of Ready Capital in a report on Monday, March 4th. B. Riley reaffirmed a “buy” rating and set a $12.00 price target (down from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. BTIG Research reduced their price target on Ready Capital from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. StockNews.com downgraded Ready Capital from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Finally, UBS Group reduced their price target on Ready Capital from $10.50 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.93.

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.