Madison Park Capital Advisors LLC Takes $508,000 Position in Ready Capital Co. (NYSE:RC)

Madison Park Capital Advisors LLC bought a new stake in Ready Capital Co. (NYSE:RC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 49,550 shares of the real estate investment trust’s stock, valued at approximately $508,000.

A number of other large investors also recently modified their holdings of RC. Ramsey Quantitative Systems bought a new position in shares of Ready Capital in the third quarter valued at approximately $12,473,000. Melia Wealth LLC bought a new stake in Ready Capital during the fourth quarter worth $7,825,000. Wellington Management Group LLP bought a new stake in Ready Capital during the third quarter worth $4,069,000. Barclays PLC lifted its holdings in Ready Capital by 221.3% during the third quarter. Barclays PLC now owns 301,938 shares of the real estate investment trust’s stock worth $3,054,000 after acquiring an additional 207,953 shares during the period. Finally, Illinois Municipal Retirement Fund bought a new stake in Ready Capital during the third quarter worth $950,000. Institutional investors own 55.87% of the company’s stock.

Wall Street Analyst Weigh In

RC has been the topic of a number of recent analyst reports. B. Riley reiterated a “buy” rating and set a $12.00 price target (down from $13.00) on shares of Ready Capital in a report on Monday, March 4th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 target price (down from $10.00) on shares of Ready Capital in a research report on Monday, March 4th. UBS Group decreased their target price on Ready Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a research report on Wednesday, March 20th. BTIG Research decreased their target price on Ready Capital from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Finally, StockNews.com downgraded Ready Capital from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Ready Capital presently has an average rating of “Hold” and an average target price of $10.93.

Ready Capital Price Performance

Ready Capital stock traded up $0.15 during midday trading on Tuesday, hitting $8.87. 1,071,513 shares of the company’s stock were exchanged, compared to its average volume of 1,426,040. Ready Capital Co. has a 52-week low of $8.25 and a 52-week high of $11.97. The stock has a 50-day moving average price of $8.82 and a two-hundred day moving average price of $9.60. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.89 and a current ratio of 1.89. The company has a market cap of $1.53 billion, a P/E ratio of 3.80 and a beta of 1.40.

Ready Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 13.54%. The ex-dividend date of this dividend is Wednesday, March 27th. Ready Capital’s dividend payout ratio (DPR) is currently 51.28%.

Insiders Place Their Bets

In other news, Director Gilbert E. Nathan purchased 10,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $8.65 per share, with a total value of $86,500.00. Following the completion of the purchase, the director now directly owns 83,099 shares in the company, valued at approximately $718,806.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Gilbert E. Nathan bought 10,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $8.65 per share, with a total value of $86,500.00. Following the purchase, the director now owns 83,099 shares in the company, valued at approximately $718,806.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin M. Luebbers bought 5,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was bought at an average cost of $8.43 per share, with a total value of $42,150.00. Following the purchase, the director now owns 119,925 shares in the company, valued at approximately $1,010,967.75. The disclosure for this purchase can be found here. Insiders bought a total of 17,150 shares of company stock valued at $148,280 over the last 90 days. Insiders own 0.95% of the company’s stock.

Ready Capital Company Profile

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.