Ready Capital Co. (NYSE:RC) Shares Sold by Ramsey Quantitative Systems

Ramsey Quantitative Systems cut its position in Ready Capital Co. (NYSE:RC) by 6.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,249,003 shares of the real estate investment trust’s stock after selling 88,775 shares during the quarter. Ready Capital makes up about 12.1% of Ramsey Quantitative Systems’ holdings, making the stock its 2nd biggest position. Ramsey Quantitative Systems owned about 0.74% of Ready Capital worth $8,518,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of RC. Entropy Technologies LP acquired a new position in shares of Ready Capital during the fourth quarter worth approximately $142,000. Mutual Advisors LLC raised its stake in Ready Capital by 4.7% during the 4th quarter. Mutual Advisors LLC now owns 109,993 shares of the real estate investment trust’s stock valued at $742,000 after purchasing an additional 4,891 shares during the last quarter. Seed Wealth Management Inc. raised its stake in Ready Capital by 93.8% during the 4th quarter. Seed Wealth Management Inc. now owns 24,800 shares of the real estate investment trust’s stock valued at $169,000 after purchasing an additional 12,000 shares during the last quarter. JPMorgan Chase & Co. raised its stake in 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 purchasing an additional 112,934 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Ready Capital by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 792,536 shares of the real estate investment trust’s stock valued at $6,047,000 after purchasing an additional 25,545 shares during the last quarter. Institutional investors own 55.87% of the company’s stock.

Ready Capital Stock Performance

Shares of Ready Capital stock opened at $6.68 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67. The company’s fifty day moving average price is $7.00 and its two-hundred day moving average price is $7.52. Ready Capital Co. has a 52-week low of $6.39 and a 52-week high of $9.53.

Ready Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 14.98%. The ex-dividend date was Tuesday, December 31st. Ready Capital’s dividend payout ratio (DPR) is presently -142.86%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods cut their target price on shares of Ready Capital from $6.75 to $6.25 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. UBS Group cut their target price on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Friday, November 15th. JMP Securities cut their target price on shares of 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. Finally, B. Riley reiterated a “neutral” rating and set a $10.00 target price (down from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. One 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $8.61.

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.