Patton Albertson Miller Group LLC Decreases Holdings in Ready Capital Co. (NYSE:RC)

Patton Albertson Miller Group LLC trimmed its stake in Ready Capital Co. (NYSE:RC) by 76.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,054 shares of the real estate investment trust’s stock after selling 60,337 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Ready Capital were worth $130,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of RC. Public Sector Pension Investment Board raised its holdings in shares of Ready Capital by 5.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 341,865 shares of the real estate investment trust’s stock worth $2,796,000 after purchasing an additional 17,279 shares during the period. Xponance Inc. bought a new stake in shares of Ready Capital in the second quarter valued at $84,000. Marshall Wace LLP bought a new stake in shares of Ready Capital in the second quarter valued at $514,000. AQR Capital Management LLC bought a new position in shares of Ready Capital during the 2nd quarter worth $146,000. Finally, Algert Global LLC bought a new position in shares of Ready Capital during the 2nd quarter worth $135,000. 55.87% of the stock is owned by institutional investors.

Ready Capital Trading Down 0.1 %

Ready Capital stock opened at $6.82 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. Ready Capital Co. has a fifty-two week low of $6.45 and a fifty-two week high of $9.96. The stock has a market cap of $1.15 billion, a P/E ratio of -9.74 and a beta of 1.43. The firm’s fifty day moving average price is $7.12 and its 200-day moving average price is $7.67.

Ready Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 14.67%. Ready Capital’s payout ratio is currently -142.86%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods lowered their price objective on Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a research note on Tuesday, January 14th. UBS Group lowered their price target on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Friday, November 15th. B. Riley reaffirmed a “neutral” rating and issued a $10.00 price objective (down from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. Finally, JMP Securities lowered their target price on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Ready Capital presently has an average rating of “Hold” and an average price target of $8.61.

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.