Corient Private Wealth LLC Decreases Stock Position in Ready Capital Co. (NYSE:RC)

Corient Private Wealth LLC trimmed its holdings in shares of Ready Capital Co. (NYSE:RC) by 2.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 196,276 shares of the real estate investment trust’s stock after selling 4,750 shares during the quarter. Corient Private Wealth LLC’s holdings in Ready Capital were worth $1,339,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ready Capital by 21.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,266,585 shares of the real estate investment trust’s stock valued at $15,458,000 after purchasing an additional 398,005 shares in the last quarter. GraniteShares Advisors LLC bought a new position in Ready Capital during the 4th quarter valued at about $2,480,000. Barclays PLC lifted its stake in Ready Capital by 205.9% during the 3rd quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust’s stock valued at $3,699,000 after acquiring an additional 326,467 shares during the period. State Street Corp boosted its holdings in shares of Ready Capital by 4.8% during the 3rd quarter. State Street Corp now owns 6,315,147 shares of the real estate investment trust’s stock valued at $49,746,000 after acquiring an additional 287,068 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Ready Capital in the fourth quarter worth approximately $1,839,000. Institutional investors own 55.87% of the company’s stock.

Insider Transactions at Ready Capital

In other Ready Capital news, insider Adam Zausmer acquired 10,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $5.42 per share, with a total value of $54,200.00. Following the completion of the purchase, the insider now directly owns 301,105 shares in the company, valued at approximately $1,631,989.10. The trade was a 3.44 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.09% of the company’s stock.

Ready Capital Stock Down 2.2 %

RC stock opened at $4.89 on Wednesday. The business’s 50-day moving average price is $6.22 and its 200-day moving average price is $6.91. The stock has a market cap of $797.81 million, a P/E ratio of -6.99 and a beta of 1.43. 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 Co. has a twelve month low of $4.74 and a twelve month high of $9.54.

Ready Capital Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.125 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 10.22%. Ready Capital’s payout ratio is currently -18.94%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RC. 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 report on Tuesday, January 7th. Citizens Jmp downgraded Ready Capital from an “outperform” rating to a “market perform” rating in a research note on Monday, March 3rd. UBS Group reduced their price objective on Ready Capital from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Wedbush reissued a “neutral” rating and issued a $6.00 target price (down from $8.00) on shares of Ready Capital in a research report on Tuesday, March 4th. Finally, JMP Securities reduced their price target on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.50.

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.