GraniteShares Advisors LLC Buys Shares of 363,701 Ready Capital Co. (NYSE:RC)

GraniteShares Advisors LLC bought a new stake in Ready Capital Co. (NYSE:RC) during the 4th quarter, Holdings Channel.com reports. The firm bought 363,701 shares of the real estate investment trust’s stock, valued at approximately $2,480,000. Ready Capital comprises approximately 1.6% of GraniteShares Advisors LLC’s holdings, making the stock its 13th biggest position.

Several other institutional investors have also recently bought and sold shares of RC. Louisiana State Employees Retirement System raised its stake in shares of Ready Capital by 4.0% during the 3rd quarter. Louisiana State Employees Retirement System now owns 81,300 shares of the real estate investment trust’s stock worth $620,000 after purchasing an additional 3,100 shares in the last quarter. Modera Wealth Management LLC bought a new stake in shares of Ready Capital during the 3rd quarter worth approximately $107,000. State of Alaska Department of Revenue raised its stake in shares of Ready Capital by 5.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 95,992 shares of the real estate investment trust’s stock worth $732,000 after purchasing an additional 4,775 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Ready Capital by 1.8% during the 3rd quarter. Van ECK Associates Corp now owns 1,366,040 shares of the real estate investment trust’s stock worth $9,508,000 after purchasing an additional 23,970 shares in the last quarter. Finally, United Advisor Group LLC bought a new stake in shares of Ready Capital during the 3rd quarter worth approximately $151,000. Institutional investors own 55.87% of the company’s stock.

Ready Capital Stock Up 2.2 %

RC stock opened at $6.85 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -9.78 and a beta of 1.43. The business’s fifty day moving average price is $6.84 and its two-hundred day moving average price is $7.31. Ready Capital Co. has a fifty-two week low of $6.39 and a fifty-two week high of $9.53.

Ready Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 14.61%. The ex-dividend date was Tuesday, December 31st. Ready Capital’s payout ratio is -142.86%.

Analyst Ratings Changes

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

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.