OneDigital Investment Advisors LLC Trims Stock Holdings in Ready Capital Co. (NYSE:RC)

OneDigital Investment Advisors LLC lowered its stake in Ready Capital Co. (NYSE:RC) by 43.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,879 shares of the real estate investment trust’s stock after selling 10,877 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Ready Capital were worth $106,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Clear Harbor Asset Management LLC lifted its position in shares of Ready Capital by 84.0% in the third quarter. Clear Harbor Asset Management LLC now owns 1,440,250 shares of the real estate investment trust’s stock valued at $10,989,000 after acquiring an additional 657,465 shares in the last quarter. Van ECK Associates Corp raised its stake in Ready Capital by 1.8% during the 3rd quarter. Van ECK Associates Corp now owns 1,366,040 shares of the real estate investment trust’s stock valued at $9,508,000 after purchasing an additional 23,970 shares during the period. Bank of New York Mellon Corp lifted its holdings in Ready Capital by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,189,988 shares of the real estate investment trust’s stock worth $9,734,000 after purchasing an additional 38,371 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Ready Capital by 3.3% in the 3rd quarter. Principal Financial Group Inc. now owns 792,536 shares of the real estate investment trust’s stock worth $6,047,000 after purchasing an additional 25,545 shares during the period. Finally, Wolverine Asset Management LLC grew its holdings in Ready Capital by 2,902.2% during the 3rd quarter. Wolverine Asset Management LLC now owns 402,291 shares of the real estate investment trust’s stock valued at $3,069,000 after buying an additional 388,891 shares in the last quarter. 55.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RC has been the topic of several research analyst reports. Wedbush reissued a “neutral” rating and issued a $9.00 target price on shares of Ready Capital in a report on Monday, August 12th. Keefe, Bruyette & Woods decreased their price target on shares of Ready Capital from $8.00 to $7.75 and set an “underperform” rating on the stock in a research note on Monday, August 12th. UBS Group dropped their price objective on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Friday, November 15th. Finally, Piper Sandler reduced their target price on Ready Capital from $9.50 to $8.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.04.

Ready Capital Price Performance

RC stock opened at $7.39 on Friday. Ready Capital Co. has a 52 week low of $6.65 and a 52 week high of $11.67. The firm has a market capitalization of $1.25 billion, a P/E ratio of -10.56 and a beta of 1.42. The company has a fifty day simple moving average of $7.29 and a two-hundred day simple moving average of $8.09. 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 Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 annualized dividend and a yield of 13.53%. Ready Capital’s dividend payout ratio is currently -142.86%.

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.