Ready Capital Co. (NYSE:RC) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its position in shares of Ready Capital Co. (NYSE:RC) by 74.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 695,357 shares of the real estate investment trust’s stock after buying an additional 295,956 shares during the period. Advisors Asset Management Inc. owned about 0.41% of Ready Capital worth $4,742,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its position in shares of Ready Capital by 3,075.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 6,150 shares during the last quarter. Avion Wealth purchased a new position in Ready Capital in the fourth quarter valued at $47,000. KBC Group NV increased its holdings 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 buying an additional 3,248 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Ready Capital in the fourth quarter valued at $69,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in Ready Capital during the 4th quarter worth about $73,000. Institutional investors and hedge funds own 55.87% of the company’s stock.

Ready Capital Stock Up 1.9 %

Shares of NYSE:RC opened at $5.17 on Thursday. Ready Capital Co. has a 1-year low of $4.74 and a 1-year high of $9.54. 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 stock has a market cap of $842.67 million, a P/E ratio of -7.38 and a beta of 1.43. The firm has a fifty day moving average price of $6.35 and a 200 day moving average price of $6.99.

Ready Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 9.68%. The ex-dividend date of this dividend is Monday, March 31st. Ready Capital’s dividend payout ratio is currently -18.94%.

Analyst Ratings Changes

Several brokerages have recently weighed in on RC. Wedbush reissued a “neutral” rating and set a $6.00 target price (down previously from $8.00) on shares of Ready Capital in a research report on Tuesday, March 4th. JMP Securities reduced their price objective on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research report on Thursday, December 12th. Keefe, Bruyette & Woods lowered their target price on shares of Ready Capital from $6.25 to $4.00 and set an “underperform” rating for the company in a report on Wednesday, March 5th. Citizens Jmp lowered shares of Ready Capital from an “outperform” rating to a “market perform” rating in a research note on Monday, March 3rd. Finally, UBS Group decreased their price objective on shares of Ready Capital from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. One 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 has a consensus rating of “Hold” and a consensus target price of $7.50.

Insider Activity at Ready Capital

In other news, CEO Thomas E. Capasse bought 10,000 shares of Ready Capital stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $4.80 per share, for a total transaction of $48,000.00. Following the purchase, the chief executive officer now owns 319,925 shares of the company’s stock, valued at approximately $1,535,640. The trade was a 3.23 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.09% of the stock is currently owned by insiders.

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.