Ready Capital Co. (NYSE:RC) Shares Sold by First Foundation Advisors

First Foundation Advisors lessened its holdings in shares of Ready Capital Co. (NYSE:RC) by 14.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 308,201 shares of the real estate investment trust’s stock after selling 51,088 shares during the quarter. First Foundation Advisors owned approximately 0.18% of Ready Capital worth $2,102,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. 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 valued at $43,000 after acquiring an additional 6,150 shares during the last quarter. Avion Wealth purchased a new position in Ready Capital during the fourth quarter worth about $47,000. Ausdal Financial Partners Inc. acquired a new position in Ready Capital in the 4th quarter valued at about $68,000. Proficio Capital Partners LLC purchased a new stake in shares of Ready Capital in the 4th quarter valued at approximately $69,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Ready Capital during the 4th quarter worth approximately $73,000. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Ready Capital Price Performance

Ready Capital stock opened at $4.51 on Friday. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. Ready Capital Co. has a 52-week low of $4.38 and a 52-week high of $9.54. The firm has a market cap of $774.09 million, a PE ratio of -6.44 and a beta of 1.23. The company’s 50 day moving average is $5.63 and its two-hundred day moving average is $6.60.

Ready Capital Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.125 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a yield of 11.10%. Ready Capital’s dividend payout ratio (DPR) is presently -18.94%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RC. Wedbush reiterated a “neutral” rating and issued a $6.00 price objective (down from $8.00) on shares of Ready Capital in a research report on Tuesday, March 4th. B. Riley restated a “neutral” rating and issued a $10.00 price objective (down from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. JMP Securities dropped their price target 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. Keefe, Bruyette & Woods decreased their price objective on shares of Ready Capital from $6.25 to $4.00 and set an “underperform” rating on the stock in a report on Wednesday, March 5th. Finally, Citizens Jmp cut shares of Ready Capital from an “outperform” rating to a “market perform” rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.50.

Insider Buying and Selling

In other news, insider Adam Zausmer purchased 10,000 shares of the stock in a transaction on Friday, March 7th. The stock was bought at an average price of $5.42 per share, for a total transaction of $54,200.00. Following the acquisition, the insider now directly owns 301,105 shares of the company’s stock, valued at approximately $1,631,989.10. The trade was a 3.44 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.09% of the stock is currently owned by insiders.

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.