Avion Wealth Purchases Shares of 7,000 Ready Capital Co. (NYSE:RC)

Avion Wealth purchased a new stake in shares of Ready Capital Co. (NYSE:RC) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,000 shares of the real estate investment trust’s stock, valued at approximately $47,000.

A number of other hedge funds have also bought and sold shares of RC. AQR Capital Management LLC acquired a new position in Ready Capital during the 2nd quarter valued at approximately $146,000. Sanctuary Advisors LLC purchased a new stake in shares of Ready Capital in the 2nd quarter valued at $126,000. Handelsbanken Fonder AB boosted its holdings in shares of Ready Capital by 25.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 47,430 shares of the real estate investment trust’s stock valued at $362,000 after acquiring an additional 9,600 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Ready Capital by 4.0% in the 3rd quarter. Louisiana State Employees Retirement System now owns 81,300 shares of the real estate investment trust’s stock valued at $620,000 after acquiring an additional 3,100 shares during the last quarter. Finally, Modera Wealth Management LLC purchased a new stake in shares of Ready Capital in the 3rd quarter valued at $107,000. Institutional investors and hedge funds own 55.87% of the company’s stock.

Analyst Ratings Changes

RC has been the topic of several recent research reports. 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 report on Friday, November 15th. Keefe, Bruyette & Woods dropped their price objective on shares of Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a report on Tuesday, January 14th. JMP Securities lowered their price target on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a report on Thursday, December 12th. Finally, B. Riley reissued a “neutral” rating and set a $10.00 price target (down from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. One research 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.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.61.

Ready Capital Stock Up 1.2 %

RC opened at $6.68 on Wednesday. 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 52-week low of $6.39 and a 52-week high of $9.53. The firm’s fifty day simple moving average is $6.97 and its two-hundred day simple moving average is $7.46.

Ready Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 14.97%. The ex-dividend date of this dividend was Tuesday, December 31st. 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.