Shares of Ready Capital Co. (NYSE: RC) sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its holdings in Ready Capital Co. (NYSE:RC – Free Report) by 11.2% during the 4th quarter, according to the company in its latest Form 13F filed with the Securities and Exchange Commission. The company held 11,515 shares of the real estate investment trust after selling 1,455 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Ready Capital were worth $121,000 at the end of last quarter.

Several other institutional investors have also recently bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new position in Ready Capital during the fourth quarter worth approximately $30,000. EdgeRock Capital LLC purchased a new position in Ready Capital during the fourth quarter worth approximately $36,000. Denali Advisors LLC purchased a new position in Ready Capital during the fourth quarter worth approximately $102,000. Centaurus Financial Inc. purchased a new position in Ready Capital during the fourth quarter worth approximately $111,000. Finally, Tyche Wealth Partners LLC purchased a new position in Ready Capital during the fourth quarter worth approximately $119,000. 55.87% of shares are owned by institutional investors and hedge funds.

Insider buying and selling

In related news, Director Gilbert E. Nathan purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were purchased at an average cost of $8.29 per share, for a total value of $82,900.00. Following the purchase, the director now directly owns 95,249 shares of the company’s stock, valued at approximately $789,614.21. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available on the SEC’s website. 1.09% of shares are currently owned by insiders.

Analyst Rating Changes

A number of equity analysts have recently commented on RC stock. LADENBURG THALM/SH SH lowered their rating on Ready Capital from a “buy” to a “neutral” rating in a research report on Friday, May 10th. BTIG Research reduced their price objective on Ready Capital from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. UBS Group reduced their price objective on Ready Capital from $10.50 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 20th. B. Riley reiterated their buy rating and issued a $12.00 price objective (down from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. Finally, Keefe, Bruyette & Woods reiterated their “underperform” rating and issued an $8.00 price target (down from $10.00) on shares of Ready Capital in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “hold” and an average price target of $10.93.

Check out our latest report on RC

Ready Capital Price Performance

RC stock opened at $8.17 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.76, and a debt-to-equity ratio of 0.47. The company has a market cap of $1.37 billion, a PE ratio of 5.07, and a beta of 1.42. Ready Capital Co. has a 12-month low of $7.93 and a 12-month high of $11.97. The company’s 50-day moving average price is $8.49 and its 200-day moving average price is $9.10.

Ready Capital (NYSE: RC – Get Free Report) last released its quarterly results on Wednesday, May 8th. The real estate investment trust reported earnings per share (EPS) of $0.29 for the quarter, beating the consensus estimate of $0.28 by $0.01. Ready Capital reported a return on equity of 8.11% and a net margin of 23.81%. The company had revenue of $232.35 million for the quarter, compared to the consensus estimate of $64.34 million. In the same quarter last year, the company earned $0.31 per share. On average, sell-side analysts expect Ready Capital Co. to post 1.17 EPS for the current year.

Capital Dividend Announcement Ready

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record as of Friday, June 28th will receive a dividend of $0.30 per share. The ex-dividend date is Friday, June 28th. This represents an annualized dividend of $1.20 and a yield of 14.69%. Ready Capital’s payout ratio is 74.53%.

Ready Capital Company Profile

(Free report)

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, funds and services lower-to-middle market (LLM) commercial real estate loans, Small Business Administration (SBA) loans, residential mortgage loans, construction loans and asset-backed securities. mortgage debts secured mainly by LLM loans. , or other investments related to real estate.

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