SVB Wealth LLC Sells 125,666 Shares of Ready Capital Co. (NYSE:RC)

SVB Wealth LLC lessened its position in Ready Capital Co. (NYSE:RC) by 28.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 309,691 shares of the real estate investment trust’s stock after selling 125,666 shares during the period. SVB Wealth LLC’s holdings in Ready Capital were worth $3,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio lifted its stake in shares of Ready Capital by 163.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,289 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 1,421 shares during the last quarter. Bear Mountain Capital Inc. acquired a new stake in shares of Ready Capital during the 4th quarter worth about $30,000. FMR LLC lifted its stake in shares of Ready Capital by 37.0% during the 1st quarter. FMR LLC now owns 4,710 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 1,272 shares during the last quarter. Quarry LP lifted its stake in shares of Ready Capital by 1,028.8% during the 1st quarter. Quarry LP now owns 5,881 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 5,360 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Ready Capital by 177.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,985 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 3,831 shares during the last quarter. Institutional investors own 55.87% of the company’s stock.

Ready Capital Stock Up 1.7 %

Shares of NYSE RC opened at $8.47 on Thursday. The company has a market capitalization of $1.46 billion, a P/E ratio of 3.62 and a beta of 1.40. Ready Capital Co. has a 52-week low of $8.25 and a 52-week high of $11.97. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.89 and a current ratio of 1.89. The company’s 50 day moving average price is $8.85 and its 200-day moving average price is $9.63.

Ready Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a $0.30 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 14.17%. Ready Capital’s dividend payout ratio (DPR) is currently 51.28%.

Insider Transactions at Ready Capital

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

Analyst Ratings Changes

A number of analysts have recently issued reports on RC shares. B. Riley restated a “buy” rating and set a $12.00 target price (down previously from $13.00) on shares of Ready Capital in a research note on Monday, March 4th. BTIG Research dropped their price objective on shares of Ready Capital from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday. StockNews.com cut shares of Ready Capital from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. UBS Group dropped their price objective on shares of Ready Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a research note on Wednesday, March 20th. Finally, Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 target price (down from $10.00) on shares of Ready Capital in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Ready Capital has a consensus rating of “Hold” and an average target price of $10.93.

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.