Illumine Investment Management LLC Takes $139,000 Position in Ready Capital Co. (NYSE:RC)

Illumine Investment Management LLC purchased a new stake in Ready Capital Co. (NYSE:RC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 20,381 shares of the real estate investment trust’s stock, valued at approximately $139,000.

A number of other institutional investors also recently modified their holdings of RC. Avion Wealth acquired a new position in Ready Capital during the fourth quarter worth about $47,000. KBC Group NV grew its position in Ready Capital by 64.1% during the 3rd quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 3,248 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Ready Capital in the 4th quarter worth about $69,000. Ieq Capital LLC bought a new position in Ready Capital in the fourth quarter valued at about $99,000. Finally, Fisher Asset Management LLC bought a new stake in shares of Ready Capital during the third quarter worth about $116,000. Institutional investors own 55.87% of the company’s stock.

Ready Capital Trading Down 1.2 %

Ready Capital stock opened at $6.81 on Friday. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -9.72 and a beta of 1.43. Ready Capital Co. has a 12-month low of $6.39 and a 12-month high of $9.53. The firm has a 50 day moving average of $6.84 and a 200 day moving average of $7.30. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54.

Ready Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 14.70%. Ready Capital’s payout ratio is -142.86%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RC. Keefe, Bruyette & Woods lowered their price target on shares of Ready Capital from $6.75 to $6.25 and set an “underperform” rating for the company in a report on Tuesday, January 14th. JMP Securities decreased their target price on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research note on Thursday, December 12th. B. Riley restated a “neutral” rating and issued a $10.00 target price (down from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. Finally, UBS Group decreased their price target on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.61.

Ready Capital 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.