Ready Capital Co. (NYSE:RC) Shares Sold by Bison Wealth LLC

Bison Wealth LLC trimmed its position in Ready Capital Co. (NYSE:RC) by 17.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,333 shares of the real estate investment trust’s stock after selling 6,058 shares during the period. Bison Wealth LLC’s holdings in Ready Capital were worth $290,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RC. Pathstone Family Office LLC lifted its holdings in shares of Ready Capital by 4.0% in the 4th quarter. Pathstone Family Office LLC now owns 21,232 shares of the real estate investment trust’s stock valued at $237,000 after buying an additional 811 shares during the period. Teacher Retirement System of Texas raised its position in Ready Capital by 8.8% in the fourth quarter. Teacher Retirement System of Texas now owns 11,383 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 918 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Ready Capital by 8.0% in the fourth quarter. CIBC Asset Management Inc now owns 12,560 shares of the real estate investment trust’s stock valued at $140,000 after acquiring an additional 935 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Ready Capital by 9.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 11,796 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 1,007 shares in the last quarter. Finally, American International Group Inc. boosted its position in shares of Ready Capital by 2.8% during the 2nd quarter. American International Group Inc. now owns 39,633 shares of the real estate investment trust’s stock worth $472,000 after purchasing an additional 1,090 shares in the last quarter. 55.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. B. Riley reiterated a “buy” rating and issued a $12.00 price objective (down previously from $13.00) on shares of Ready Capital in a research note on Monday, March 4th. StockNews.com lowered Ready Capital from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 price target (down previously from $10.00) on shares of Ready Capital in a report on Monday, March 4th. Finally, UBS Group reduced their price objective on Ready Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.08.

Ready Capital Trading Down 0.7 %

Shares of Ready Capital stock opened at $8.33 on Wednesday. Ready Capital Co. has a 1 year low of $8.25 and a 1 year high of $11.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.89 and a quick ratio of 1.89. The business has a 50 day moving average price of $8.86 and a 200 day moving average price of $9.64. The company has a market capitalization of $1.44 billion, a P/E ratio of 3.56 and a beta of 1.40.

Ready Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 14.41%. The ex-dividend date is Wednesday, March 27th. Ready Capital’s dividend payout ratio is presently 51.28%.

Insider Activity at Ready Capital

In other news, Director Kevin M. Luebbers acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was acquired at an average price of $8.43 per share, with a total value of $42,150.00. Following the completion of the transaction, the director now directly owns 119,925 shares in the company, valued at approximately $1,010,967.75. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Gilbert E. Nathan acquired 10,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $8.65 per share, for a total transaction of $86,500.00. Following the acquisition, the director now directly owns 83,099 shares in the company, valued at approximately $718,806.35. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kevin M. Luebbers bought 5,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was bought at an average price of $8.43 per share, with a total value of $42,150.00. Following the completion of the acquisition, the director now owns 119,925 shares of the company’s stock, valued at approximately $1,010,967.75. The disclosure for this purchase can be found here. In the last quarter, insiders bought 17,150 shares of company stock valued at $148,280. 0.95% of the stock is owned by insiders.

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.