Robertson Stephens Wealth Management LLC Sells 11,720 Shares of Ready Capital Co. (NYSE:RC)

Robertson Stephens Wealth Management LLC cut its stake in Ready Capital Co. (NYSE:RC) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 102,212 shares of the real estate investment trust’s stock after selling 11,720 shares during the quarter. Robertson Stephens Wealth Management LLC owned about 0.06% of Ready Capital worth $723,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Louisiana State Employees Retirement System lifted its position in Ready Capital by 4.0% in the third quarter. Louisiana State Employees Retirement System now owns 81,300 shares of the real estate investment trust’s stock worth $620,000 after buying an additional 3,100 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Ready Capital by 2.4% in the third quarter. Thrivent Financial for Lutherans now owns 132,098 shares of the real estate investment trust’s stock worth $1,008,000 after purchasing an additional 3,123 shares during the period. KBC Group NV increased its stake 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 worth $63,000 after purchasing an additional 3,248 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Ready Capital by 12.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,682 shares of the real estate investment trust’s stock worth $326,000 after purchasing an additional 4,729 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in Ready Capital by 5.2% in the third quarter. State of Alaska Department of Revenue now owns 95,992 shares of the real estate investment trust’s stock worth $732,000 after purchasing an additional 4,775 shares during the period. 55.87% of the stock is currently owned by institutional investors.

Ready Capital Stock Performance

Shares of Ready Capital stock opened at $6.68 on Friday. The stock’s fifty day moving average price is $7.02 and its 200-day moving average price is $7.54. Ready Capital Co. has a 12 month low of $6.39 and a 12 month high of $9.53. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54. The firm has a market cap of $1.12 billion, a P/E ratio of -9.54 and a beta of 1.43.

Ready Capital Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RC shares. Keefe, Bruyette & Woods reduced their target price 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 reduced their target price on Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Friday, November 15th. JMP Securities reduced their target price on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a research note on Thursday, December 12th. Finally, B. Riley reiterated a “neutral” rating and issued a $10.00 target price (down previously from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.