52,441,739 Shares in Ready Capital Corp $RC Bought by Quantum Portfolio Management LLC

Quantum Portfolio Management LLC acquired a new stake in shares of Ready Capital Corp (NYSE:RC) during the 1st quarter, HoldingsChannel reports. The fund acquired 52,441,739 shares of the real estate investment trust’s stock, valued at approximately $84,956,000. Ready Capital accounts for approximately 0.9% of Quantum Portfolio Management LLC’s portfolio, making the stock its 9th biggest position. Quantum Portfolio Management LLC owned approximately 0.32% of Ready Capital at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ready Capital during the 1st quarter worth about $89,000. United Services Automobile Association acquired a new stake in Ready Capital in the 1st quarter worth about $59,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Ready Capital by 2.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 442,432 shares of the real estate investment trust’s stock worth $2,252,000 after buying an additional 9,892 shares during the last quarter. Focus Partners Wealth increased its stake in Ready Capital by 13.1% during the 1st quarter. Focus Partners Wealth now owns 263,820 shares of the real estate investment trust’s stock worth $1,343,000 after buying an additional 30,477 shares in the last quarter. Finally, Intech Investment Management LLC increased its stake in Ready Capital by 13.1% during the 1st quarter. Intech Investment Management LLC now owns 230,177 shares of the real estate investment trust’s stock worth $1,172,000 after buying an additional 26,607 shares in the last quarter. Institutional investors and hedge funds own 55.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Zacks Research lowered Ready Capital from a “hold” rating to a “strong sell” rating in a research note on Monday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ready Capital in a research report on Tuesday, June 2nd. Three research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Ready Capital has an average rating of “Reduce” and a consensus price target of $2.81.

Ready Capital Stock Performance

NYSE:RC opened at $1.65 on Thursday. The company has a market cap of $271.79 million, a P/E ratio of -0.52 and a beta of 1.43. Ready Capital Corp has a twelve month low of $1.50 and a twelve month high of $4.69. The company’s 50-day moving average price is $1.76 and its 200-day moving average price is $1.86. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.95.

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 business had revenue of $130.55 million for the quarter, compared to analysts’ expectations of $68.67 million. Ready Capital had a negative net margin of 102.10% and a negative return on equity of 14.69%. On average, sell-side analysts forecast that Ready Capital Corp will post -0.94 earnings per share for the current fiscal year.

Ready Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a $0.01 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.4%. Ready Capital’s dividend payout ratio is -1.26%.

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.