UBS Group AG Has $6.88 Million Stock Holdings in Ready Capital Corp $RC

UBS Group AG boosted its holdings in Ready Capital Corp (NYSE:RC) by 161.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,155,403 shares of the real estate investment trust’s stock after buying an additional 1,948,208 shares during the quarter. UBS Group AG owned approximately 1.95% of Ready Capital worth $6,879,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RC. Marshall Wace LLP purchased a new stake in Ready Capital during the 2nd quarter worth approximately $6,542,000. Invesco Ltd. boosted its holdings in shares of Ready Capital by 21.2% during the 3rd quarter. Invesco Ltd. now owns 4,239,678 shares of the real estate investment trust’s stock worth $16,408,000 after purchasing an additional 742,226 shares during the last quarter. Norden Group LLC boosted its holdings in shares of Ready Capital by 218.0% during the 4th quarter. Norden Group LLC now owns 335,743 shares of the real estate investment trust’s stock worth $732,000 after purchasing an additional 230,147 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Ready Capital by 9.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,924,767 shares of the real estate investment trust’s stock worth $8,411,000 after purchasing an additional 164,918 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Ready Capital by 144.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 230,977 shares of the real estate investment trust’s stock worth $894,000 after purchasing an additional 136,423 shares during the last quarter. 55.87% of the stock is owned by institutional investors.

Ready Capital Stock Down 1.5%

NYSE:RC opened at $1.70 on Wednesday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.95. The stock’s fifty day moving average is $1.73 and its two-hundred day moving average is $2.08. Ready Capital Corp has a 52 week low of $1.50 and a 52 week high of $4.75. The stock has a market capitalization of $280.05 million, a price-to-earnings ratio of -0.53 and a beta of 1.47.

Ready Capital (NYSE:RC) last announced its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.18). The company had revenue of $130.55 million during the quarter, compared to analyst estimates of $68.67 million. Ready Capital had a negative net margin of 102.10% and a negative return on equity of 14.69%. Research analysts anticipate that Ready Capital Corp will post -1.24 EPS for the current year.

Ready Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Tuesday, March 31st were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, March 31st. Ready Capital’s dividend payout ratio is -1.26%.

Insider Activity

In other news, Director Gilbert E. Nathan acquired 30,000 shares of the company’s stock in a transaction on Friday, March 6th. The shares were bought at an average price of $1.95 per share, with a total value of $58,500.00. Following the completion of the acquisition, the director owned 216,358 shares in the company, valued at $421,898.10. This trade represents a 16.10% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Ready Capital in a report on Thursday, January 22nd. Piper Sandler lowered their target price on Ready Capital from $2.50 to $2.00 and set a “neutral” rating on the stock in a report on Monday, March 2nd. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $2.81.

About Ready Capital

Ready Capital Corporation is a specialty finance real estate investment trust (REIT) that originates, acquires and manages commercial real estate loans and related assets. The company offers financing solutions across a variety of property types, including multifamily, office, retail, industrial, hospitality and mixed-use assets. Ready Capital focuses on delivering flexible loan structures to meet the diverse needs of borrowers in the small balance and middle-market sectors.

Through its small balance commercial real estate lending platform, Ready Capital provides loans typically ranging from $1 million to $15 million for acquisitions, refinancings, renovations and bridge financing.