Cobblestone Capital Advisors LLC NY Has $530,000 Stock Holdings in Ready Capital Co. (NYSE:RC)

Cobblestone Capital Advisors LLC NY cut its position in shares of Ready Capital Co. (NYSE:RC) by 32.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,641 shares of the real estate investment trust’s stock after selling 37,603 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Ready Capital were worth $530,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Avion Wealth bought a new stake in Ready Capital in the fourth quarter valued at about $47,000. KBC Group NV lifted its stake in Ready Capital by 64.1% during 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. Proficio Capital Partners LLC acquired a new stake in Ready Capital during the fourth quarter valued at approximately $69,000. Ieq Capital LLC bought a new stake in shares of Ready Capital in the 4th quarter valued at approximately $99,000. Finally, Fisher Asset Management LLC bought a new stake in shares of Ready Capital in the 3rd quarter valued at approximately $116,000. Institutional investors and hedge funds own 55.87% of the company’s stock.

Analyst Ratings Changes

RC has been the topic of several recent analyst reports. UBS Group decreased their price target 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. Keefe, Bruyette & Woods reduced their target price on shares of Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a research note on Tuesday, January 14th. B. Riley reaffirmed a “neutral” rating and issued a $10.00 target price (down previously from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. Finally, JMP Securities cut their price target on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.61.

Ready Capital Stock Up 2.1 %

Shares of NYSE RC opened at $6.95 on Friday. The firm’s 50-day simple moving average is $6.83 and its 200 day simple moving average is $7.29. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -9.92 and a beta of 1.43. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. Ready Capital Co. has a 12-month low of $6.39 and a 12-month high of $9.53.

Ready Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.40%. Ready Capital’s payout ratio is -142.86%.

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.