Steward Partners Investment Advisory LLC Has $43,000 Position in Ready Capital Co. (NYSE:RC)

Steward Partners Investment Advisory LLC boosted its holdings in Ready Capital Co. (NYSE:RC) by 3,075.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,350 shares of the real estate investment trust’s stock after purchasing an additional 6,150 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Ready Capital were worth $43,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Avion Wealth purchased a new position in Ready Capital during the 4th quarter worth $47,000. KBC Group NV boosted its holdings in 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 acquiring an additional 3,248 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Ready Capital in the 4th quarter worth about $69,000. Ieq Capital LLC purchased a new position in shares of Ready Capital in the 4th quarter worth about $99,000. Finally, Fisher Asset Management LLC purchased a new position in shares of Ready Capital in the 3rd quarter worth about $116,000. Institutional investors and hedge funds own 55.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RC shares. B. Riley reissued a “neutral” rating and issued a $10.00 price target (down from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. UBS Group cut their price target on shares of Ready Capital from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Keefe, Bruyette & Woods cut their price target on shares of Ready Capital from $6.25 to $4.00 and set an “underperform” rating on the stock in a report on Wednesday, March 5th. Wedbush reissued a “neutral” rating and issued a $6.00 price target (down from $8.00) on shares of Ready Capital in a report on Tuesday, March 4th. Finally, Citizens Jmp downgraded shares of Ready Capital from an “outperform” rating to a “market perform” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.50.

Insiders Place Their Bets

In related news, CEO Thomas E. Capasse acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average price of $4.80 per share, with a total value of $48,000.00. Following the completion of the purchase, the chief executive officer now owns 319,925 shares in the company, valued at $1,535,640. This trade represents a 3.23 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.09% of the stock is owned by insiders.

Ready Capital Stock Up 1.7 %

RC stock opened at $5.08 on Wednesday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54. The company’s 50 day moving average is $6.35 and its 200 day moving average is $6.99. The stock has a market cap of $828.15 million, a price-to-earnings ratio of -7.25 and a beta of 1.43. Ready Capital Co. has a 1-year low of $4.74 and a 1-year high of $9.54.

Ready Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 9.85%. The ex-dividend date is Monday, March 31st. Ready Capital’s dividend payout ratio is currently -18.94%.

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.