Ready Capital Co. (NYSE:RC) Stake Lessened by SG Americas Securities LLC

SG Americas Securities LLC trimmed its position in shares of Ready Capital Co. (NYSE:RC) by 64.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,335 shares of the real estate investment trust’s stock after selling 22,822 shares during the period. SG Americas Securities LLC’s holdings in Ready Capital were worth $84,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in RC. Louisiana State Employees Retirement System increased its stake in Ready Capital by 4.0% during the third quarter. Louisiana State Employees Retirement System now owns 81,300 shares of the real estate investment trust’s stock valued at $620,000 after acquiring an additional 3,100 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Ready Capital by 2.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 132,098 shares of the real estate investment trust’s stock valued at $1,008,000 after acquiring an additional 3,123 shares during the last quarter. KBC Group NV increased its position in shares of Ready Capital by 64.1% in the 3rd quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 3,248 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ready Capital by 12.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,682 shares of the real estate investment trust’s stock worth $326,000 after purchasing an additional 4,729 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Ready Capital by 5.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 95,992 shares of the real estate investment trust’s stock worth $732,000 after buying an additional 4,775 shares during the last quarter. 55.87% of the stock is owned by institutional investors and hedge funds.

Ready Capital Trading Up 0.4 %

Shares of RC stock opened at $6.59 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 debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. The company has a 50-day simple moving average of $6.96 and a two-hundred day simple moving average of $7.46. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -9.41 and a beta of 1.43.

Ready Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 15.19%. The ex-dividend date was Tuesday, December 31st. Ready Capital’s payout ratio is -142.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. UBS Group cut their target price on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Friday, November 15th. JMP Securities decreased their price objective on shares of 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. B. Riley restated a “neutral” rating and issued a $10.00 target price (down previously from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.61.

About Ready Capital

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.