Quadrant Private Wealth Management LLC reduced its position in Ready Capital Co. (NYSE:RC – Free Report) by 8.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,216,990 shares of the real estate investment trust’s stock after selling 107,252 shares during the period. Ready Capital comprises approximately 2.1% of Quadrant Private Wealth Management LLC’s holdings, making the stock its 5th largest position. Quadrant Private Wealth Management LLC owned approximately 0.72% of Ready Capital worth $8,612,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC raised 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 buying an additional 326,467 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Ready Capital by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,868,580 shares of the real estate investment trust’s stock valued at $14,257,000 after acquiring an additional 195,663 shares during the period. Clear Harbor Asset Management LLC grew its position in shares of Ready Capital by 84.0% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 1,440,250 shares of the real estate investment trust’s stock valued at $10,989,000 after acquiring an additional 657,465 shares during the period. JPMorgan Chase & Co. grew its position in shares of Ready Capital by 50.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 336,773 shares of the real estate investment trust’s stock valued at $2,570,000 after acquiring an additional 112,934 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Ready Capital by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust’s stock valued at $29,292,000 after acquiring an additional 150,479 shares during the period. 55.87% of the stock is currently owned by hedge funds and other institutional investors.
Ready Capital Stock Up 2.1 %
Shares of RC stock opened at $6.72 on Friday. The company’s 50 day moving average is $6.93 and its 200 day moving average is $7.43. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67. Ready Capital Co. has a 52-week low of $6.39 and a 52-week high of $9.53.
Ready Capital Announces Dividend
Wall Street Analyst Weigh In
RC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods cut their price target on Ready Capital from $6.75 to $6.25 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. JMP Securities cut their price target on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research note on Thursday, December 12th. UBS Group cut their price target on Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Friday, November 15th. Finally, B. Riley reiterated a “neutral” rating and issued a $10.00 price target (down previously from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Ready Capital currently has a consensus rating of “Hold” and an average target price of $8.61.
Check Out Our Latest Stock Report on Ready Capital
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.
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