Amalgamated Bank Decreases Holdings in Ready Capital Co. by 2.6% in Q4
June 15, 2023
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Ready Capital ($NYSE:RC) Co. is a leading real estate finance and asset management company with a diverse portfolio of commercial real estate investments. The company specializes in providing financing solutions to commercial real estate owners, developers, and operators throughout the United States. In the 4th quarter, the Amalgamated Bank decreased its holdings in Ready Capital Co. by a 2.6% margin, as indicated in its most recent filing. This indicates a shift in the Amalgamated Bank’s investment strategy away from Ready Capital Co. Despite this decrease, the Amalgamated Bank still holds a significant portion of its investments in Ready Capital Co., which continues to offer a solid return on its investments.
It remains to be seen how this decrease in holdings by the Amalgamated Bank will affect Ready Capital Co.’s stock over the coming months. Although the company is performing well, it is possible that the decrease in holdings could cause a sell-off of the stock. Investors should keep an eye on Ready Capital Co. to see how this news impacts its performance.
Analysis
At GoodWhale, we conducted an analysis of READY CAPITAL‘s fundamentals. According to our Star Chart, READY CAPITAL has a low health score of 3/10 with regard to its cashflows and debt, making it less likely to pay off debt and fund future operations. On the brighter side, READY CAPITAL is strong in asset and growth, and medium in dividend and profitability. Therefore, we classify READY CAPITAL as a ‘cow’, a type of company that has the track record of paying out consistent and sustainable dividends. This information makes READY CAPITAL an appealing option to conservative investors who are looking for a stable source of income from their investments. The company’s financials suggest that the dividends should be able to cover operational costs, making the investment an attractive option for those who are seeking steady cash returns. Furthermore, the company’s strong assets and growth potential make it a viable long-term option for those seeking capital appreciation. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ready Capital. More…
| Total Revenues | Net Income | Net Margin |
| 411.89 | 157.92 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ready Capital. More…
| Operations | Investing | Financing |
| 343.5 | -385.57 | -11.31 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ready Capital. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 11.54k | 9.65k | 15.07 |
Key Ratios Snapshot
Some of the financial key ratios for Ready Capital are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Peers
In the past decade, the commercial real estate lending landscape has shifted dramatically. New players have emerged and old ones have fallen by the wayside. Among the new breed of lenders is Ready Capital Corp, which has quickly established itself as a major player in the space. Ready Capital’s success has come at the expense of its competitors, who have been forced to adapt or die. Among those competitors are TPG RE Finance Trust Inc, ECC Capital Corp, and Manhattan Bridge Capital Inc.
– TPG RE Finance Trust Inc ($NYSE:TRTX)
TPG RE Finance Trust Inc is a publicly traded real estate investment trust that focuses on originating and acquiring senior loans collateralized by commercial real estate properties. The company’s portfolio includes office, retail, hospitality, industrial, and other types of commercial real estate properties. TPG RE Finance Trust Inc is headquartered in New York, New York.
– ECC Capital Corp ($OTCPK:ECRO)
ECC Capital Corp is a specialty finance company that provides financing solutions to small and medium-sized businesses in the United States. The company has a market cap of $7.81 million as of February 2022. ECC Capital Corp is headquartered in New York, New York.
– Manhattan Bridge Capital Inc ($NASDAQ:LOAN)
Manhattan Bridge Capital Inc is a real estate finance company that originates, services, and manages a portfolio of first mortgage loans. The Company operates in the New York metropolitan area. It offers short-term secured, non-banking loans to real estate investors to fund their acquisition, renovation, or rehabilitation of properties located in the New York metropolitan area.
Summary
Ready Capital is an attractive investment option for many investors, as it has consistently grown its dividend payments and demonstrated steady performance in the stock market. The company recently reported that Amalgamated Bank decreased its holdings in Ready Capital by 2.6% in the 4th quarter. Despite this, the company’s stock price has remained relatively stable over the past few months. Analysts have noted that Ready Capital is well-positioned for long-term growth, as its high-quality loan portfolio, robust regional diversification, and strong capital position provide a solid foundation for continued success.
Furthermore, its focus on developing multifamily and commercial real estate loans has enabled it to expand its reach and increase its market share. Investors are closely monitoring the company’s progress and are optimistic about its future prospects.
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