SG Americas Securities LLC Decreases Holdings in Ready Capital Co. (NYSE:RC)

SG Americas Securities LLC lessened its stake in shares of Ready Capital Co. (NYSE:RC) by 78.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,074 shares of the real estate investment trust’s stock after selling 39,409 shares during the period. SG Americas Securities LLC’s holdings in Ready Capital were worth $114,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Pathstone Family Office LLC increased its holdings in Ready Capital by 4.0% during the fourth quarter. Pathstone Family Office LLC now owns 21,232 shares of the real estate investment trust’s stock worth $237,000 after buying an additional 811 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Ready Capital by 8.8% during the fourth quarter. Teacher Retirement System of Texas now owns 11,383 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 918 shares during the period. CIBC Asset Management Inc boosted its position in Ready Capital by 8.0% during the fourth quarter. CIBC Asset Management Inc now owns 12,560 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 935 shares during the period. Commonwealth Equity Services LLC boosted its position in Ready Capital by 9.3% during the third quarter. Commonwealth Equity Services LLC now owns 11,796 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 1,007 shares during the period. Finally, American International Group Inc. boosted its position in Ready Capital by 2.8% during the second quarter. American International Group Inc. now owns 39,633 shares of the real estate investment trust’s stock worth $472,000 after purchasing an additional 1,090 shares during the period. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RC shares. BTIG Research cut their target price on shares of Ready Capital from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday. StockNews.com lowered shares of Ready Capital from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. B. Riley reiterated a “buy” rating and set a $12.00 target price (down previously from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. UBS Group cut their price objective on shares of Ready Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a research report on Wednesday, March 20th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 price objective (down from $10.00) on shares of Ready Capital in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Ready Capital has a consensus rating of “Hold” and a consensus price target of $10.93.

Insider Activity at Ready Capital

In related news, Director Kevin M. Luebbers bought 5,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were acquired at an average cost of $8.43 per share, with a total value of $42,150.00. Following the completion of the purchase, the director now directly owns 119,925 shares of the company’s stock, valued at approximately $1,010,967.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Kevin M. Luebbers bought 5,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were acquired at an average cost of $8.43 per share, with a total value of $42,150.00. Following the completion of the purchase, the director now directly owns 119,925 shares of the company’s stock, valued at approximately $1,010,967.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gilbert E. Nathan bought 10,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average cost of $8.65 per share, for a total transaction of $86,500.00. Following the completion of the purchase, the director now directly owns 83,099 shares of the company’s stock, valued at $718,806.35. The disclosure for this purchase can be found here. Insiders have purchased 17,150 shares of company stock valued at $148,280 over the last three months. 0.95% of the stock is owned by corporate insiders.

Ready Capital Price Performance

RC stock opened at $8.48 on Friday. The firm has a 50 day moving average of $8.84 and a 200-day moving average of $9.62. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.44. Ready Capital Co. has a 12 month low of $8.25 and a 12 month high of $11.97. The firm has a market capitalization of $1.46 billion, a P/E ratio of 3.62 and a beta of 1.40.

Ready Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 14.16%. The ex-dividend date is Wednesday, March 27th. Ready Capital’s dividend payout ratio is currently 51.28%.

Ready Capital Profile

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.