Captrust Financial Advisors Sells 2,078 Shares of Ready Capital Co. (NYSE:RC)

Captrust Financial Advisors cut its stake in Ready Capital Co. (NYSE:RC) by 16.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,340 shares of the real estate investment trust’s stock after selling 2,078 shares during the period. Captrust Financial Advisors’ holdings in Ready Capital were worth $79,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Clear Harbor Asset Management LLC lifted its stake in Ready Capital by 84.0% in the third quarter. Clear Harbor Asset Management LLC now owns 1,440,250 shares of the real estate investment trust’s stock worth $10,989,000 after acquiring an additional 657,465 shares during the period. Wolverine Asset Management LLC lifted its position in shares of Ready Capital by 2,902.2% during the third quarter. Wolverine Asset Management LLC now owns 402,291 shares of the real estate investment trust’s stock valued at $3,069,000 after buying an additional 388,891 shares during the last quarter. TrueMark Investments LLC purchased a new stake in shares of Ready Capital during the second quarter valued at about $3,082,000. Van ECK Associates Corp lifted its position in shares of Ready Capital by 29.4% during the second quarter. Van ECK Associates Corp now owns 1,342,070 shares of the real estate investment trust’s stock valued at $10,978,000 after buying an additional 304,750 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Ready Capital by 99.5% during the third quarter. Advisors Asset Management Inc. now owns 399,401 shares of the real estate investment trust’s stock valued at $3,047,000 after buying an additional 199,202 shares during the last quarter. 55.87% of the stock is currently owned by institutional investors.

Ready Capital Trading Up 0.9 %

Shares of RC stock opened at $7.52 on Tuesday. The stock’s fifty day moving average is $7.18 and its two-hundred day moving average is $7.97. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. The firm has a market capitalization of $1.27 billion, a P/E ratio of -10.74 and a beta of 1.43. Ready Capital Co. has a fifty-two week low of $6.65 and a fifty-two week high of $11.11.

Analyst Ratings Changes

RC has been the subject of several research analyst reports. Piper Sandler decreased their price objective on shares of Ready Capital from $9.50 to $8.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. UBS Group dropped their price objective on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Finally, JMP Securities dropped their price objective on shares of 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ready Capital has an average rating of “Hold” and an average price target of $9.11.

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.