Ieq Capital LLC Takes $817,000 Position in Ready Capital Corp $RC

Ieq Capital LLC bought a new position in shares of Ready Capital Corp (NYSE:RC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 466,595 shares of the real estate investment trust’s stock, valued at approximately $817,000. Ieq Capital LLC owned approximately 0.28% of Ready Capital at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Focus Partners Advisor Solutions LLC acquired a new position in Ready Capital in the 2nd quarter worth $26,000. Sequoia Financial Advisors LLC purchased a new position in Ready Capital in the 4th quarter valued at about $27,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Ready Capital during the fourth quarter valued at about $28,000. HBK Sorce Advisory LLC acquired a new stake in shares of Ready Capital during the second quarter valued at about $30,000. Finally, Green Ridge Wealth Planning LLC purchased a new stake in shares of Ready Capital during the fourth quarter worth about $32,000. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

Ready Capital Price Performance

Shares of RC stock opened at $1.84 on Friday. The firm has a market cap of $304.78 million, a P/E ratio of -0.53 and a beta of 1.45. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.91 and a quick ratio of 1.91. Ready Capital Corp has a 1-year low of $1.39 and a 1-year high of $4.46. The firm has a fifty day moving average of $1.68 and a two-hundred day moving average of $1.73.

Ready Capital (NYSE:RC) last released its earnings results on Thursday, August 6th. The real estate investment trust reported ($0.47) earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $16.41 million. As a group, research analysts anticipate that Ready Capital Corp will post -0.99 earnings per share for the current fiscal year.

Ready Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, June 30th. Ready Capital’s payout ratio is currently -1.15%.

Wall Street Analyst Weigh In

Several research firms recently commented on RC. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ready Capital in a research note on Tuesday, June 2nd. Zacks Research upgraded Ready Capital from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, UBS Group dropped their price objective on Ready Capital from $2.50 to $2.00 and set a “neutral” rating on the stock in a report on Thursday, July 16th. Three 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.com, Ready Capital has an average rating of “Reduce” and a consensus target price of $2.17.

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.