Ramsey Quantitative Systems Lowers Holdings in Ready Capital Co. (NYSE:RC)

Ramsey Quantitative Systems decreased its stake in shares of Ready Capital Co. (NYSE:RC) by 6.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,249,003 shares of the real estate investment trust’s stock after selling 88,775 shares during the period. Ready Capital makes up 12.1% of Ramsey Quantitative Systems’ holdings, making the stock its 2nd biggest holding. Ramsey Quantitative Systems’ holdings in Ready Capital were worth $8,518,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RC. AQR Capital Management LLC acquired a new position in Ready Capital during the 2nd quarter worth about $146,000. Algert Global LLC acquired a new position in Ready Capital during the 2nd quarter worth about $135,000. Sanctuary Advisors LLC acquired a new position in Ready Capital during the 2nd quarter worth about $126,000. Handelsbanken Fonder AB lifted its position in Ready Capital by 25.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 47,430 shares of the real estate investment trust’s stock valued at $362,000 after purchasing an additional 9,600 shares during the period. Finally, Louisiana State Employees Retirement System lifted its position in Ready Capital by 4.0% during 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 purchasing an additional 3,100 shares during the period. Institutional investors and hedge funds own 55.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RC. B. Riley restated a “neutral” rating and set a $10.00 target price (down from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. JMP Securities cut their target price on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a research report on Thursday, December 12th. Keefe, Bruyette & Woods cut their target price on shares of Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a research report on Tuesday, January 14th. Finally, UBS Group cut their target price on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.61.

Ready Capital Stock Down 0.8 %

Shares of NYSE:RC opened at $6.68 on Friday. The firm’s 50 day simple moving average is $7.00 and its 200 day simple moving average is $7.52. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54. Ready Capital Co. has a fifty-two week low of $6.39 and a fifty-two week high of $9.53.

Ready Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a $0.25 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.98%. Ready Capital’s dividend 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.