SVB Wealth LLC Invests $1.68 Million in Ready Capital Co. (NYSE:RC)

SVB Wealth LLC purchased a new position in shares of Ready Capital Co. (NYSE:RC) in the fourth quarter, Holdings Channel.com reports. The fund purchased 246,919 shares of the real estate investment trust’s stock, valued at approximately $1,684,000.

Other institutional investors also recently modified their holdings of the company. Avion Wealth acquired a new position in shares of Ready Capital during the 4th quarter worth $47,000. KBC Group NV grew its position in Ready Capital by 64.1% during the 3rd quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 3,248 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Ready Capital during the 4th quarter worth $69,000. Ieq Capital LLC bought a new stake in Ready Capital during the 4th quarter worth $99,000. Finally, Fisher Asset Management LLC bought a new stake in Ready Capital during the 3rd quarter worth $116,000. Institutional investors and hedge funds own 55.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods reduced their price objective on Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a research report on Tuesday, January 14th. UBS Group reduced their price objective on Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Friday, November 15th. B. Riley restated a “neutral” rating and set a $10.00 price objective (down previously from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. Finally, 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 research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.61.

Ready Capital Trading Up 2.1 %

NYSE RC opened at $6.95 on Monday. The business’s 50-day moving average price is $6.83 and its two-hundred day moving average price is $7.28. Ready Capital Co. has a 12 month low of $6.39 and a 12 month high of $9.53. The firm has a market capitalization of $1.17 billion, a PE ratio of -9.92 and a beta of 1.43. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54.

Ready Capital Dividend Announcement

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

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.