Ready Capital (NYSE:RC – Free Report) had its price objective trimmed by JMP Securities from $15.00 to $14.00 in a report issued on Tuesday morning, FlyOnTheWall reports.
Several other brokerages have also recently issued reports on RC. Keefe, Bruyette & Woods reduced their price target on shares of Ready Capital from $12.00 to $10.50 and set a market perform rating on the stock in a research report on Thursday, April 13th. StockNews.com began coverage on shares of Ready Capital in a research report on Thursday, May 18th. They issued a hold rating for the company. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $13.43.
View Our Latest Stock Report on RC
Ready Capital Trading Down 0.7 %
Ready Capital Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, June 30th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date was Thursday, June 29th. Ready Capital’s dividend payout ratio (DPR) is 21.21%.
Institutional Trading of Ready Capital
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in shares of Ready Capital by 232.0% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,623 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 1,833 shares in the last quarter. Creative Financial Designs Inc. ADV purchased a new position in shares of Ready Capital during the fourth quarter worth about $33,000. FMR LLC increased its position in shares of Ready Capital by 37.0% during the first quarter. FMR LLC now owns 4,710 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,272 shares in the last quarter. Wolverine Asset Management LLC lifted its holdings in shares of Ready Capital by 28.4% in the 4th quarter. Wolverine Asset Management LLC now owns 4,518 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Quarry LP boosted its position in shares of Ready Capital by 1,028.8% in the 1st quarter. Quarry LP now owns 5,881 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 5,360 shares during the period. Institutional investors and hedge funds own 63.47% of the company’s stock.
Ready Capital Company Profile
Ready Capital Corporation operates as a real estate finance company in the United States. The company originates, acquires, finances, and services small to medium balance commercial (SBC) loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by SBC loans, or other real estate-related investments.
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