Soltis Investment Advisors LLC Sells 56,190 Shares of Ready Capital Co. (NYSE:RC)

Soltis Investment Advisors LLC trimmed its stake in Ready Capital Co. (NYSE:RC) by 5.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,078,674 shares of the real estate investment trust’s stock after selling 56,190 shares during the period. Soltis Investment Advisors LLC owned about 0.64% of Ready Capital worth $7,357,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. KBC Group NV grew its position in Ready Capital by 64.1% in the third quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 3,248 shares during the period. Modera Wealth Management LLC acquired a new stake in shares of Ready Capital during the 3rd quarter worth about $107,000. Sanctuary Advisors LLC acquired a new position in Ready Capital in the second quarter valued at about $126,000. Fisher Asset Management LLC acquired a new position in shares of Ready Capital in the 3rd quarter worth approximately $116,000. Finally, AQR Capital Management LLC acquired a new stake in Ready Capital during the 2nd quarter valued at $146,000. Institutional investors and hedge funds own 55.87% of the company’s stock.

Ready Capital Stock Performance

NYSE RC opened at $6.68 on Monday. Ready Capital Co. has a twelve month low of $6.39 and a twelve month high of $9.53. The business’s fifty day moving average is $7.00 and its 200 day moving average is $7.50. 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 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 given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 14.98%. The ex-dividend date of this dividend was Tuesday, December 31st. Ready Capital’s dividend payout ratio (DPR) is currently -142.86%.

Analyst Ratings Changes

A number of brokerages have commented on RC. UBS Group decreased their price objective on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Friday, November 15th. Keefe, Bruyette & Woods lowered their price target on shares of Ready Capital from $6.75 to $6.25 and set an “underperform” rating for the company in a report on Tuesday, January 14th. JMP Securities reduced their price objective on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a report on Thursday, December 12th. Finally, B. Riley reissued a “neutral” rating and issued a $10.00 target price (down 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 issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Ready Capital presently has an average rating of “Hold” and a consensus price target of $8.61.

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.