GSA Capital Partners LLP Buys Shares of 488,886 Ready Capital Corp $RC

GSA Capital Partners LLP purchased a new position in shares of Ready Capital Corp (NYSE:RC) during the second quarter, Holdings Channel.com reports. The fund purchased 488,886 shares of the real estate investment trust’s stock, valued at approximately $856,000.

Several other hedge funds have also made changes to their positions in the business. Sequoia Financial Advisors LLC purchased a new position in shares of Ready Capital in the fourth quarter valued at approximately $27,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Ready Capital in the fourth quarter valued at approximately $28,000. Green Ridge Wealth Planning LLC purchased a new stake in Ready Capital during the 4th quarter worth approximately $32,000. Allworth Financial LP increased its stake in Ready Capital by 354.5% during the 4th quarter. Allworth Financial LP now owns 16,380 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 12,776 shares during the period. Finally, Quarry LP lifted its holdings in Ready Capital by 4,494.6% during the 3rd quarter. Quarry LP now owns 9,373 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 9,169 shares in the last quarter. Institutional investors and hedge funds own 55.87% of the company’s stock.

Wall Street Analysts Forecast Growth

RC has been the subject of several recent research reports. Zacks Research raised shares of Ready Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. UBS Group cut their price objective on Ready Capital from $2.50 to $2.00 and set a “neutral” rating on the stock in a research report on Thursday, July 16th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Ready Capital in a research note on Tuesday, June 2nd. Three research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Ready Capital presently has a consensus rating of “Reduce” and an average price target of $2.17.

Ready Capital Stock Performance

Shares of RC opened at $1.70 on Wednesday. The stock has a 50 day moving average price of $1.65 and a 200 day moving average price of $1.74. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $280.00 million, a price-to-earnings ratio of -0.49 and a beta of 1.45. Ready Capital Corp has a 52-week low of $1.39 and a 52-week high of $4.46.

Ready Capital (NYSE:RC) last released its quarterly earnings data on Thursday, August 6th. The real estate investment trust reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.01. Ready Capital had a negative net margin of 131.76% and a negative return on equity of 16.78%. The company had revenue of $151.87 million for the quarter, compared to analysts’ expectations of $16.41 million. Research analysts predict that Ready Capital Corp will post -0.99 EPS for the current fiscal year.

Ready Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, June 30th. Ready Capital’s dividend payout ratio (DPR) is -1.15%.

Ready Capital Company Profile

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.