OneDigital Investment Advisors LLC Sells 10,877 Shares of Ready Capital Co. (NYSE:RC)

OneDigital Investment Advisors LLC cut its position in shares of Ready Capital Co. (NYSE:RC) by 43.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,879 shares of the real estate investment trust’s stock after selling 10,877 shares during the period. OneDigital Investment Advisors LLC’s holdings in Ready Capital were worth $106,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC increased its stake in Ready Capital by 94.6% in the second quarter. CWM LLC now owns 3,361 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 1,634 shares during the period. EntryPoint Capital LLC bought a new position in shares of Ready Capital in the first quarter worth about $40,000. KBC Group NV increased its stake in Ready Capital by 64.1% in the 3rd quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 3,248 shares during the period. Xponance Inc. bought a new stake in Ready Capital during the 2nd quarter valued at about $84,000. Finally, Choreo LLC purchased a new stake in Ready Capital in the 2nd quarter valued at about $91,000. 55.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Piper Sandler reduced their target price on shares of Ready Capital from $9.50 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Wedbush reissued a “neutral” rating and issued a $9.00 price objective on shares of Ready Capital in a research note on Monday, August 12th. Keefe, Bruyette & Woods decreased their target price on Ready Capital from $8.00 to $7.75 and set an “underperform” rating for the company in a research report on Monday, August 12th. Finally, UBS Group lowered their target price on Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $9.04.

Ready Capital Stock Performance

Shares of NYSE:RC opened at $7.39 on Friday. The firm has a 50 day moving average of $7.29 and a 200 day moving average of $8.09. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -10.56 and a beta of 1.42. Ready Capital Co. has a 52 week low of $6.65 and a 52 week high of $11.67.

Ready Capital Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 13.53%. The ex-dividend date was Monday, September 30th. Ready Capital’s 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.