Laird Norton Wetherby Wealth Management LLC Has $88,000 Holdings in Ready Capital Co. (NYSE:RC)

Laird Norton Wetherby Wealth Management LLC lessened its holdings in shares of Ready Capital Co. (NYSE:RC) by 15.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,858 shares of the real estate investment trust’s stock after selling 2,322 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in Ready Capital were worth $88,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RC. Sterling Capital Management LLC boosted its position in shares of Ready Capital by 822.8% during the 4th quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 4,616 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Ready Capital by 3,075.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 6,150 shares in the last quarter. Avion Wealth acquired a new stake in shares of Ready Capital during the 4th quarter worth approximately $47,000. Ausdal Financial Partners Inc. acquired a new stake in shares of Ready Capital during the 4th quarter worth approximately $68,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Ready Capital during the 4th quarter worth approximately $69,000. Institutional investors and hedge funds own 55.87% of the company’s stock.

Insider Activity

In other news, insider Adam Zausmer bought 10,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $5.42 per share, with a total value of $54,200.00. Following the completion of the purchase, the insider now directly owns 301,105 shares of the company’s stock, valued at approximately $1,631,989.10. This represents a 3.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. UBS Group cut their target price on shares of Ready Capital from $5.00 to $4.75 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods cut their target price on shares of Ready Capital from $4.00 to $3.75 and set an “underperform” rating on the stock in a research report on Tuesday, May 13th. Citizens Jmp lowered shares of Ready Capital from an “outperform” rating to a “market perform” rating in a research report on Monday, March 3rd. Finally, Wedbush restated a “neutral” rating and issued a $6.00 target price (down previously from $8.00) on shares of Ready Capital in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Ready Capital currently has a consensus rating of “Hold” and a consensus price target of $7.00.

Ready Capital Price Performance

RC stock opened at $4.53 on Friday. The company has a fifty day moving average price of $4.65 and a 200-day moving average price of $6.09. The company has a market capitalization of $771.54 million, a P/E ratio of -6.46 and a beta of 1.45. Ready Capital Co. has a 52-week low of $3.93 and a 52-week high of $9.54. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67.

Ready Capital (NYSE:RC) last released its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.21). The business had revenue of $40.24 million for the quarter, compared to the consensus estimate of $212.33 million. Ready Capital had a negative net margin of 11.65% and a positive return on equity of 7.53%. As a group, equities analysts expect that Ready Capital Co. will post 0.93 EPS for the current year.

Ready Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 11.05%. The ex-dividend date of this dividend was Monday, March 31st. Ready Capital’s payout ratio is currently -28.74%.

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.