Nisa Investment Advisors LLC reduced its stake in shares of Ready Capital Co. (NYSE:RC - Free Report) by 40.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 70,886 shares of the real estate investment trust's stock after selling 47,196 shares during the quarter. Nisa Investment Advisors LLC's holdings in Ready Capital were worth $502,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of RC. Clear Harbor Asset Management LLC boosted its stake in shares of 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 valued at $10,989,000 after purchasing an additional 657,465 shares in the last quarter. Wolverine Asset Management LLC lifted its stake in Ready Capital by 2,902.2% in the 3rd quarter. Wolverine Asset Management LLC now owns 402,291 shares of the real estate investment trust's stock valued at $3,069,000 after purchasing an additional 388,891 shares during the last quarter. Barclays PLC boosted its position in Ready Capital by 205.9% in the third quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust's stock valued at $3,699,000 after buying an additional 326,467 shares in the last quarter. State Street Corp boosted its position in Ready Capital by 4.8% in the third quarter. State Street Corp now owns 6,315,147 shares of the real estate investment trust's stock valued at $49,746,000 after buying an additional 287,068 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of Ready Capital by 99.5% during the third quarter. Advisors Asset Management Inc. now owns 399,401 shares of the real estate investment trust's stock worth $3,047,000 after buying an additional 199,202 shares during the last quarter. Institutional investors and hedge funds own 55.87% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have commented on RC. Keefe, Bruyette & Woods decreased their price target on Ready Capital from $6.75 to $6.25 and set an "underperform" rating for the company in a research note on Tuesday, January 14th. JMP Securities reduced their target price on Ready Capital from $10.50 to $9.50 and set a "market outperform" rating on the stock in a report on Thursday, December 12th. B. Riley restated a "neutral" rating and set a $10.00 price target (down previously from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. Finally, UBS Group reduced their price objective on shares of Ready Capital from $8.50 to $7.50 and set a "neutral" rating on the stock in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $8.61.
View Our Latest Report on Ready Capital
Ready Capital Stock Down 1.8 %
NYSE:RC traded down $0.13 on Wednesday, hitting $6.67. The stock had a trading volume of 3,022,115 shares, compared to its average volume of 1,911,429. Ready Capital Co. has a 1 year low of $6.45 and a 1 year high of $9.94. The firm's fifty day simple moving average is $7.10 and its two-hundred day simple moving average is $7.64. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. The stock has a market cap of $1.12 billion, a P/E ratio of -9.52 and a beta of 1.43.
Ready Capital Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 15.00%. The ex-dividend date is Tuesday, December 31st. Ready Capital's dividend payout ratio is -142.86%.
About Ready Capital
(
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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