Ready Capital Co. (NYSE:RC) Holdings Cut by Bison Wealth LLC

Bison Wealth LLC reduced its stake in shares of Ready Capital Co. (NYSE:RC) by 17.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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.

A number of other hedge funds have also modified their holdings of RC. BlackRock Inc. raised its position in Ready Capital by 75.0% during the second quarter. BlackRock Inc. now owns 27,249,233 shares of the real estate investment trust’s stock valued at $307,371,000 after acquiring an additional 11,675,364 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Ready Capital by 17.8% in the 3rd quarter. Vanguard Group Inc. now owns 6,402,647 shares of the real estate investment trust’s stock valued at $64,922,000 after purchasing an additional 967,743 shares during the last quarter. State Street Corp lifted its stake in shares of Ready Capital by 66.3% in the 2nd quarter. State Street Corp now owns 5,798,238 shares of the real estate investment trust’s stock valued at $66,212,000 after purchasing an additional 2,312,011 shares during the last quarter. Geode Capital Management LLC increased its position in Ready Capital by 90.2% during the second quarter. Geode Capital Management LLC now owns 3,129,990 shares of the real estate investment trust’s stock worth $35,306,000 after buying an additional 1,484,317 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Ready Capital by 42.2% during the first quarter. Invesco Ltd. now owns 2,603,750 shares of the real estate investment trust’s stock valued at $39,211,000 after buying an additional 772,522 shares in the last quarter. 55.87% of the stock is owned by institutional investors and hedge funds.

Ready Capital Stock Down 0.7 %

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

Ready Capital Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Director Gilbert E. Nathan acquired 10,000 shares of Ready Capital stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $8.65 per share, for a total transaction of $86,500.00. Following the transaction, the director now owns 83,099 shares of the company’s stock, valued at $718,806.35. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Gilbert E. Nathan purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $8.65 per share, with a total value of $86,500.00. Following the purchase, the director now directly owns 83,099 shares in the company, valued at $718,806.35. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin M. Luebbers purchased 5,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was bought at an average price of $8.43 per share, for a total transaction of $42,150.00. Following the completion of the transaction, the director now directly owns 119,925 shares of the company’s stock, valued at $1,010,967.75. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 17,150 shares of company stock valued at $148,280. Insiders own 0.95% of the company’s stock.

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.