Naviter Wealth LLC Has $114,000 Stock Position in Ready Capital Co. (NYSE:RC)

Naviter Wealth LLC lifted its position in shares of Ready Capital Co. (NYSE:RC) by 35.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 13,500 shares of the real estate investment trust’s stock after purchasing an additional 3,500 shares during the quarter. Naviter Wealth LLC’s holdings in Ready Capital were worth $114,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of RC. Vanguard Group Inc. raised its position in Ready Capital by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 11,163,763 shares of the real estate investment trust’s stock worth $114,429,000 after purchasing an additional 735,949 shares in the last quarter. Waterfall Asset Management LLC bought a new stake in shares of Ready Capital in the 4th quarter valued at approximately $40,067,000. Van ECK Associates Corp raised its holdings in shares of Ready Capital by 29.4% in the 2nd quarter. Van ECK Associates Corp now owns 1,342,070 shares of the real estate investment trust’s stock worth $10,978,000 after buying an additional 304,750 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Ready Capital by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,300,267 shares of the real estate investment trust’s stock worth $13,328,000 after buying an additional 30,730 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Ready Capital by 3.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,189,988 shares of the real estate investment trust’s stock worth $9,734,000 after buying an additional 38,371 shares during the period. 55.87% of the stock is currently owned by institutional investors.

Ready Capital Trading Down 1.2 %

Shares of NYSE RC opened at $8.19 on Wednesday. Ready Capital Co. has a fifty-two week low of $7.93 and a fifty-two week high of $11.67. The firm has a market capitalization of $1.38 billion, a P/E ratio of 5.09 and a beta of 1.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.69 and a quick ratio of 1.69. The company’s 50 day simple moving average is $8.69 and its 200 day simple moving average is $8.66.

Ready Capital (NYSE:RC) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.19). Ready Capital had a negative net margin of 5.67% and a positive return on equity of 7.32%. The company had revenue of $234.12 million during the quarter, compared to analyst estimates of $61.77 million. During the same period last year, the company earned $0.35 EPS. On average, analysts predict that Ready Capital Co. will post 1.03 EPS for the current year.

Ready Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 14.65%. The ex-dividend date of this dividend was Friday, June 28th. Ready Capital’s dividend payout ratio (DPR) is currently 74.53%.

Analyst Ratings Changes

Several research analysts have issued reports on RC shares. Keefe, Bruyette & Woods dropped their price objective on Ready Capital from $8.00 to $7.75 and set an “underperform” rating for the company in a research note on Monday, August 12th. LADENBURG THALM/SH SH downgraded Ready Capital from a “buy” rating to a “neutral” rating in a research report on Friday, May 10th. Wedbush reiterated a “neutral” rating and set a $9.00 target price on shares of Ready Capital in a research report on Monday, August 12th. Finally, BTIG Research started coverage on Ready Capital in a research note on Friday, July 19th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $9.65.

About Ready Capital

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.