Quadrant Private Wealth Management LLC lowered its holdings in shares of Ready Capital Co. (NYSE:RC - Free Report) by 8.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,216,990 shares of the real estate investment trust's stock after selling 107,252 shares during the period. Ready Capital makes up 2.1% of Quadrant Private Wealth Management LLC's investment portfolio, making the stock its 5th largest holding. Quadrant Private Wealth Management LLC owned about 0.72% of Ready Capital worth $8,612,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Avion Wealth bought a new stake in Ready Capital in the 4th quarter worth about $47,000. KBC Group NV boosted its holdings in shares of 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 valued at $63,000 after acquiring an additional 3,248 shares during the last quarter. Modera Wealth Management LLC bought a new stake in shares of Ready Capital in the third quarter worth approximately $107,000. Sanctuary Advisors LLC purchased a new position in shares of Ready Capital during the second quarter valued at approximately $126,000. Finally, Fisher Asset Management LLC bought a new position in Ready Capital during the third quarter valued at approximately $116,000. 55.87% of the stock is owned by institutional investors.
Ready Capital Stock Performance
Ready Capital stock traded up $0.01 during midday trading on Wednesday, hitting $6.86. The stock had a trading volume of 2,723,308 shares, compared to its average volume of 1,913,687. Ready Capital Co. has a 52-week low of $6.39 and a 52-week high of $9.53. The company has a market capitalization of $1.16 billion, a PE ratio of -9.79 and a beta of 1.43. The firm's fifty day moving average is $6.90 and its two-hundred day moving average is $7.37. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders 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 dividend yield of 14.59%. Ready Capital's payout ratio is -142.86%.
Wall Street Analysts Forecast Growth
RC has been the subject of a number of research reports. B. Riley reiterated a "neutral" rating and set a $10.00 target price (down from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. UBS Group reduced their price objective on Ready Capital from $8.50 to $7.50 and set a "neutral" rating for the company in a research report on Friday, November 15th. Keefe, Bruyette & Woods dropped their target price on Ready Capital from $6.75 to $6.25 and set an "underperform" rating on the stock in a research report on Tuesday, January 14th. Finally, JMP Securities reduced their price target on shares of Ready Capital from $10.50 to $9.50 and set a "market outperform" rating for the company in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $8.61.
View Our Latest Research Report on Ready Capital
Ready Capital Profile
(
Free Report)
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.
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