Ready Capital Co. (NYSE:RC) Shares Sold by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC trimmed its holdings in shares of Ready Capital Co. (NYSE:RC) by 10.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 102,212 shares of the real estate investment trust’s stock after selling 11,720 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Ready Capital were worth $723,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in RC. KBC Group NV raised its stake 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 worth $63,000 after buying an additional 3,248 shares during the period. Modera Wealth Management LLC acquired a new position in shares of Ready Capital during the 3rd quarter worth approximately $107,000. Fisher Asset Management LLC acquired a new position in shares of Ready Capital during the 3rd quarter worth approximately $116,000. Sanctuary Advisors LLC acquired a new position in shares of Ready Capital during the 2nd quarter worth approximately $126,000. Finally, Algert Global LLC acquired a new position in shares of Ready Capital during the 2nd quarter worth approximately $135,000. 55.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on RC shares. Keefe, Bruyette & Woods reduced their price objective 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 price objective on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research note on Thursday, December 12th. B. Riley reissued a “neutral” rating and issued a $10.00 price objective (down from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. Finally, 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 note on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.61.

Ready Capital Stock Down 0.8 %

Shares of RC opened at $6.68 on Friday. 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 $1.12 billion, a PE ratio of -9.54 and a beta of 1.43. The stock has a fifty day simple moving average of $7.02 and a two-hundred day simple moving average of $7.54. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54.

Ready Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.98%. The ex-dividend date of this dividend was Tuesday, December 31st. Ready Capital’s dividend payout ratio (DPR) is presently -142.86%.

Ready Capital Profile

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.