Soltis Investment Advisors LLC lowered its stake in shares of Ready Capital Co. (NYSE:RC - Free Report) by 5.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,078,674 shares of the real estate investment trust's stock after selling 56,190 shares during the period. Soltis Investment Advisors LLC owned approximately 0.64% of Ready Capital worth $7,357,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in RC. AQR Capital Management LLC acquired a new position in Ready Capital during the 2nd quarter valued at about $146,000. Sanctuary Advisors LLC purchased a new position in shares of Ready Capital in the 2nd quarter worth approximately $126,000. Handelsbanken Fonder AB boosted its stake in shares of Ready Capital by 25.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 47,430 shares of the real estate investment trust's stock worth $362,000 after buying an additional 9,600 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Ready Capital by 4.0% in 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 buying an additional 3,100 shares during the last quarter. Finally, Modera Wealth Management LLC purchased a new position in shares of Ready Capital in the 3rd quarter worth approximately $107,000. Institutional investors and hedge funds own 55.87% of the company's stock.
Ready Capital Stock Performance
RC stock traded up $0.03 during midday trading on Thursday, reaching $6.59. 1,132,853 shares of the company's stock traded hands, compared to its average volume of 1,868,174. The company has a 50-day moving average price of $6.96 and a two-hundred day moving average price of $7.46. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. Ready Capital Co. has a 52 week low of $6.39 and a 52 week high of $9.53. The firm has a market capitalization of $1.11 billion, a PE ratio of -9.41 and a beta of 1.43.
Ready Capital Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 15.19%. Ready Capital's payout ratio is -142.86%.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on RC shares. UBS Group cut their target price on Ready Capital from $8.50 to $7.50 and set a "neutral" rating on the stock in a research note on Friday, November 15th. JMP Securities cut their target price 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. Keefe, Bruyette & Woods cut their target price 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, B. Riley reiterated a "neutral" rating and issued a $10.00 price objective (down previously from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $8.61.
View Our Latest Research Report on Ready Capital
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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