Ready Capital Co. (NYSE:RC) Stock Position Cut by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC decreased its stake in shares of Ready Capital Co. (NYSE:RC) by 24.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 102,571 shares of the real estate investment trust’s stock after selling 32,941 shares during the period. Patton Albertson Miller Group LLC owned approximately 0.06% of Ready Capital worth $1,051,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RC. Bear Mountain Capital Inc. bought a new stake in Ready Capital in the fourth quarter worth about $30,000. EdgeRock Capital LLC acquired a new stake in Ready Capital during the fourth quarter valued at approximately $36,000. Allspring Global Investments Holdings LLC lifted its stake in Ready Capital by 112.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 4,039 shares during the last quarter. Denali Advisors LLC bought a new stake in Ready Capital during the fourth quarter worth approximately $102,000. Finally, Anfield Capital Management LLC acquired a new position in Ready Capital in the third quarter worth approximately $103,000. 55.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on RC shares. StockNews.com cut shares of Ready Capital from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 target price (down previously from $10.00) on shares of Ready Capital in a report on Monday, March 4th. UBS Group lowered their price target on Ready Capital from $10.50 to $9.50 and set a “neutral” rating on the stock in a report on Wednesday, March 20th. B. Riley reissued a “buy” rating and set a $12.00 price target (down from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. Finally, BTIG Research decreased their price objective on Ready Capital from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.93.

Insider Buying and Selling at Ready Capital

In other news, Director Gilbert E. Nathan acquired 10,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $8.65 per share, with a total value of $86,500.00. Following the completion of the purchase, the director now owns 83,099 shares of the company’s stock, valued at $718,806.35. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Ready Capital news, Director Gilbert E. Nathan bought 10,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $8.65 per share, for a total transaction of $86,500.00. Following the completion of the purchase, the director now owns 83,099 shares in the company, valued at approximately $718,806.35. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin M. Luebbers purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was acquired at an average cost of $8.43 per share, with a total value of $42,150.00. Following the completion of the acquisition, the director now directly owns 119,925 shares of the company’s stock, valued at $1,010,967.75. The disclosure for this purchase can be found here. Insiders have purchased 17,150 shares of company stock worth $148,280 over the last three months. Company insiders own 0.95% of the company’s stock.

Ready Capital Stock Performance

Shares of NYSE:RC traded up $0.21 on Thursday, hitting $8.66. 3,419,466 shares of the company were exchanged, compared to its average volume of 1,446,397. The company’s 50 day moving average price is $8.74 and its two-hundred day moving average price is $9.48. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 3.70 and a beta of 1.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.89 and a current ratio of 1.89. Ready Capital Co. has a one year low of $8.25 and a one year high of $11.97.

Ready Capital (NYSE:RC) last announced its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Ready Capital had a return on equity of 7.99% and a net margin of 35.69%. The company had revenue of $232.35 million for the quarter, compared to analyst estimates of $64.34 million. During the same quarter last year, the firm earned $0.31 EPS. Research analysts expect that Ready Capital Co. will post 1.22 earnings per share for the current year.

Ready Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 13.86%. The ex-dividend date of this dividend was Wednesday, March 27th. Ready Capital’s dividend payout ratio is 51.28%.

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.