Arcus Capital Partners LLC Increases Stake in Ready Capital Co. (NYSE:RC)

Arcus Capital Partners LLC boosted its position in shares of Ready Capital Co. (NYSE:RC) by 233.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 59,884 shares of the real estate investment trust’s stock after purchasing an additional 41,944 shares during the quarter. Arcus Capital Partners LLC’s holdings in Ready Capital were worth $408,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its position in Ready Capital by 4.8% in the 3rd quarter. State Street Corp now owns 6,315,147 shares of the real estate investment trust’s stock valued at $49,746,000 after acquiring an additional 287,068 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Ready Capital by 4.1% in the third quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust’s stock worth $29,292,000 after purchasing an additional 150,479 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ready Capital by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,580 shares of the real estate investment trust’s stock valued at $14,257,000 after purchasing an additional 195,663 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Ready Capital by 12.8% during the fourth quarter. Van ECK Associates Corp now owns 1,540,765 shares of the real estate investment trust’s stock valued at $10,508,000 after buying an additional 174,725 shares during the last quarter. Finally, Clear Harbor Asset Management LLC increased its holdings in Ready Capital by 84.0% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 1,440,250 shares of the real estate investment trust’s stock worth $10,989,000 after buying an additional 657,465 shares in the last quarter. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Analysts Set New Price Targets

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

Ready Capital Stock Performance

Shares of Ready Capital stock opened at $6.59 on Friday. The company’s fifty day simple moving average is $6.96 and its 200-day simple moving average is $7.46. Ready Capital Co. has a 1-year low of $6.39 and a 1-year high of $9.53. 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 announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 15.19%. Ready Capital’s dividend payout ratio (DPR) is presently -142.86%.

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.