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

AlphaQuest LLC has significantly increased its investment in Ready Capital Co. (NYSE:RC), raising its holdings by 33.3% during the fourth quarter. This increase was disclosed in a recent filing with the Securities and Exchange Commission (SEC). Following the acquisition of an additional 6,988 shares, AlphaQuest now holds a total of 27,968 shares of this real estate investment trust (REIT), valued at approximately $191,000 based on the latest SEC report.

In addition to AlphaQuest's investment, various other institutional investors have also adjusted their positions in Ready Capital. Steward Partners Investment Advisory LLC expanded its investment in the REIT dramatically, increasing its stake by an impressive 3,075.0% during the same quarter. Steward Partners now owns 6,350 shares, a rise attributed to the purchase of an additional 6,150 shares, bringing its total investment to around $43,000.

Other noteworthy changes include Avion Wealth, which acquired a new stake in Ready Capital worth about $47,000. KBC Group NV also increased its investment by 64.1%, ending up with 8,318 shares valued at $63,000 after buying 3,248 shares. Proficio Capital Partners and Ieq Capital also entered new positions in the fourth quarter, investing approximately $69,000 and $99,000, respectively. Overall, institutional investors and hedge funds currently hold 55.87% of Ready Capital's shares.

Ready Capital Stock Overview

The stock of Ready Capital Co. opened at $5.02 on Monday. It is worth noting that the company's 50-day moving average stands at $6.42, while the 200-day moving average is $7.04. Ready Capital maintains a market capitalization of approximately $818.20 million, accompanied by a price-to-earnings (PE) ratio of -7.16 and a beta of 1.43. The company’s current ratio and quick ratio are both reported at 1.67, with a debt-to-equity ratio of 0.54. The stock has experienced a one-year low of $4.74 and a one-year high of $9.53.

Dividend Announcement

Ready Capital recently announced a quarterly dividend to be paid on April 30th. Shareholders on record as of March 31st will receive a dividend of $0.125 per share. The ex-dividend date for this payment is also set for March 31st. This amount translates to an annual dividend of $0.50, providing a yield of about 9.97%. Currently, Ready Capital’s payout ratio is reported to be -18.94%.

Recent Analyst Ratings

Several equities analysts have recently issued reports regarding Ready Capital stocks. Citizens JMP downgraded the REIT from an “outperform” rating to “market perform” on March 3rd. Meanwhile, UBS Group lowered its target price from $7.00 to $5.00, rating it as “neutral.” B. Riley maintained a “neutral” rating but revised down its target price from $12.00 to $10.00 on January 7th. JMP Securities also decreased its target price from $10.50 to $9.50, rating the stock as “market outperform.” Finally, Keefe, Bruyette & Woods set their target price at $4.00, marking it as “underperform.” Currently, one research analyst has issued a sell rating, while several others maintain hold ratings and one believes it is a buy. According to MarketBeat.com, the consensus rating on Ready Capital stocks stands at “Hold” with an average price target of $7.50.

Insider Transactions

In addition to institutional trading, there have been recent insider transactions. CEO Thomas E. Capasse acquired 10,000 shares of Ready Capital stock on March 5th at an average price of $4.80 per share, totaling $48,000. Following this purchase, Capasse owns 319,925 shares, with a total value of about $1,535,640. This transaction reflects a 3.23% increase in the CEO's shareholding. Insider ownership of Ready Capital stands at 1.09%.

Company Overview

Ready Capital Corporation operates as a real estate finance company in the United States. It functions through two main segments: LMM Commercial Real Estate and Small Business Lending. The company focuses on originating, acquiring, financing, and servicing lower-to-middle-market commercial real estate loans, small business administration (SBA) loans, residential mortgages, construction loans, and mortgage-backed securities relating primarily to lower-to-middle-market loans or other real estate investments.

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