Ready Capital Co. (NYSE:RC) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its holdings in Ready Capital Co. (NYSE:RC) by 11.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,515 shares of the real estate investment trust’s stock after selling 1,455 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Ready Capital were worth $121,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Bear Mountain Capital Inc. purchased a new position in Ready Capital during the fourth quarter worth approximately $30,000. EdgeRock Capital LLC purchased a new position in Ready Capital during the fourth quarter worth approximately $36,000. Denali Advisors LLC purchased a new position in Ready Capital during the fourth quarter worth approximately $102,000. Centaurus Financial Inc. purchased a new position in Ready Capital during the fourth quarter worth approximately $111,000. Finally, Tyche Wealth Partners LLC purchased a new position in Ready Capital during the fourth quarter worth approximately $119,000. 55.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Gilbert E. Nathan bought 10,000 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average cost of $8.29 per share, with a total value of $82,900.00. Following the purchase, the director now directly owns 95,249 shares of the company’s stock, valued at approximately $789,614.21. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on RC shares. LADENBURG THALM/SH SH downgraded Ready Capital from a “buy” rating to a “neutral” rating in a research report on Friday, May 10th. BTIG Research reduced their target price on Ready Capital from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. UBS Group reduced their target price on Ready Capital from $10.50 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 20th. B. Riley restated a “buy” rating and issued a $12.00 target price (down previously from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. Finally, 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 research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $10.93.

Ready Capital Price Performance

RC stock opened at $8.17 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.37 billion, a PE ratio of 5.07 and a beta of 1.42. Ready Capital Co. has a 12-month low of $7.93 and a 12-month high of $11.97. The business’s fifty day moving average price is $8.49 and its 200 day moving average price is $9.10.

Ready Capital (NYSE:RC) last posted its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. Ready Capital had a return on equity of 8.11% and a net margin of 23.81%. The firm had revenue of $232.35 million for the quarter, compared to the consensus estimate of $64.34 million. During the same quarter in the previous year, the business earned $0.31 EPS. On average, sell-side analysts anticipate that Ready Capital Co. will post 1.17 EPS for the current year.

Ready Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, June 28th. This represents a $1.20 annualized dividend and a yield of 14.69%. Ready Capital’s payout ratio is 74.53%.

Ready Capital Company 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.