Penserra Capital Management LLC Grows Stock Position in Ready Capital Corp $RC

Penserra Capital Management LLC lifted its stake in Ready Capital Corp (NYSE:RC) by 61.8% during the second quarter, Holdings Channel reports. The institutional investor owned 244,788 shares of the real estate investment trust’s stock after acquiring an additional 93,477 shares during the quarter. Penserra Capital Management LLC’s holdings in Ready Capital were worth $1,069,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Wolverine Asset Management LLC grew its position in Ready Capital by 152.5% during the first quarter. Wolverine Asset Management LLC now owns 555,556 shares of the real estate investment trust’s stock valued at $2,828,000 after buying an additional 335,502 shares during the period. Nexpoint Asset Management L.P. acquired a new position in shares of Ready Capital in the first quarter worth about $4,444,000. Public Sector Pension Investment Board boosted its stake in shares of Ready Capital by 26.9% during the 1st quarter. Public Sector Pension Investment Board now owns 534,474 shares of the real estate investment trust’s stock worth $2,720,000 after acquiring an additional 113,160 shares in the last quarter. Graham Capital Management L.P. grew its position in shares of Ready Capital by 79.4% during the 1st quarter. Graham Capital Management L.P. now owns 214,903 shares of the real estate investment trust’s stock valued at $1,094,000 after acquiring an additional 95,087 shares during the period. Finally, Invesco Ltd. grew its position in shares of Ready Capital by 16.1% during the 1st quarter. Invesco Ltd. now owns 3,618,181 shares of the real estate investment trust’s stock valued at $18,417,000 after acquiring an additional 502,162 shares during the period. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Wall Street Zen cut Ready Capital from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. UBS Group cut their price objective on Ready Capital from $4.00 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ready Capital in a research report on Wednesday, October 8th. Zacks Research raised shares of Ready Capital from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Ready Capital from $3.75 to $3.50 and set an “underperform” rating for the company in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ready Capital presently has an average rating of “Reduce” and a consensus price target of $5.30.

Ready Capital Stock Performance

NYSE RC opened at $2.69 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.56 and a quick ratio of 1.61. The stock’s 50 day simple moving average is $3.65 and its 200-day simple moving average is $4.08. The company has a market cap of $442.05 million, a PE ratio of -1.41 and a beta of 1.45. Ready Capital Corp has a 1-year low of $2.63 and a 1-year high of $7.64.

Ready Capital (NYSE:RC) last posted its quarterly earnings data on Tuesday, September 9th. The real estate investment trust reported ($0.10) EPS for the quarter. The firm had revenue of ($9.77) million during the quarter. Ready Capital had a negative net margin of 47.30% and a negative return on equity of 7.02%. As a group, equities research analysts anticipate that Ready Capital Corp will post 0.93 EPS for the current fiscal year.

Ready Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 18.6%. The ex-dividend date of this dividend was Tuesday, September 30th. Ready Capital’s dividend payout ratio (DPR) is currently -26.18%.

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.