Soltis Investment Advisors LLC Has $7.36 Million Holdings in Ready Capital Co. (NYSE:RC)

Soltis Investment Advisors LLC lowered its holdings in Ready Capital Co. (NYSE:RC) by 5.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,078,674 shares of the real estate investment trust’s stock after selling 56,190 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Ready Capital were worth $7,357,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RC. State Street Corp raised its holdings in shares of Ready Capital by 4.8% in the third quarter. State Street Corp now owns 6,315,147 shares of the real estate investment trust’s stock valued at $49,746,000 after purchasing an additional 287,068 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Ready Capital by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust’s stock worth $29,292,000 after buying an additional 150,479 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Ready Capital by 11.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,580 shares of the real estate investment trust’s stock valued at $14,257,000 after acquiring an additional 195,663 shares in the last quarter. Clear Harbor Asset Management LLC increased its position in shares of Ready Capital by 84.0% during the third quarter. Clear Harbor Asset Management LLC now owns 1,440,250 shares of the real estate investment trust’s stock valued at $10,989,000 after acquiring an additional 657,465 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Ready Capital by 1.8% during the third quarter. Van ECK Associates Corp now owns 1,366,040 shares of the real estate investment trust’s stock worth $9,508,000 after acquiring an additional 23,970 shares during the period. Institutional investors own 55.87% of the company’s stock.

Analyst Upgrades and Downgrades

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

Ready Capital Stock Down 0.8 %

RC opened at $6.68 on Monday. Ready Capital Co. has a 12 month low of $6.39 and a 12 month high of $9.53. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average of $7.00 and a 200 day moving average of $7.50.

Ready Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 14.98%. The ex-dividend date of this dividend was Tuesday, December 31st. Ready Capital’s dividend payout ratio (DPR) is presently -142.86%.

Ready Capital Company 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.