Ready Capital Corp $RC Shares Sold by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC lessened its stake in shares of Ready Capital Corp (NYSE:RC) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 987,869 shares of the real estate investment trust’s stock after selling 62,333 shares during the quarter. Soltis Investment Advisors LLC owned about 0.58% of Ready Capital worth $4,317,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in RC. Larson Financial Group LLC acquired a new position in shares of Ready Capital during the first quarter valued at approximately $27,000. US Bancorp DE increased its stake in shares of Ready Capital by 404.7% during the first quarter. US Bancorp DE now owns 6,021 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 4,828 shares during the period. Bogart Wealth LLC acquired a new position in shares of Ready Capital during the second quarter valued at approximately $31,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Ready Capital during the first quarter valued at approximately $32,000. Finally, IFP Advisors Inc increased its stake in shares of Ready Capital by 1,410.5% during the first quarter. IFP Advisors Inc now owns 7,326 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 6,841 shares during the period. Institutional investors and hedge funds own 55.87% of the company’s stock.

Ready Capital Trading Up 4.8%

Ready Capital stock opened at $3.04 on Thursday. The company has a 50 day moving average price of $3.74 and a 200 day moving average price of $4.11. Ready Capital Corp has a 52 week low of $2.83 and a 52 week high of $7.64. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market capitalization of $499.55 million, a price-to-earnings ratio of -1.64 and a beta of 1.45.

Ready Capital (NYSE:RC) last posted its quarterly earnings data on Tuesday, September 9th. The real estate investment trust reported ($0.10) EPS for the quarter. Ready Capital had a positive return on equity of 3.76% and a negative net margin of 40.59%.The firm had revenue of ($9.77) million during the quarter. Research analysts forecast that Ready Capital Corp will post 0.93 EPS for the current year.

Ready Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, September 30th were paid a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.50 dividend on an annualized basis and a yield of 16.4%. Ready Capital’s dividend payout ratio (DPR) is currently -27.03%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RC shares. Weiss Ratings restated a “sell (d)” rating on shares of Ready Capital in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Ready Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods decreased their price target on shares of Ready Capital from $3.75 to $3.50 and set an “underperform” rating on the stock in a research report on Thursday, October 9th. UBS Group decreased their price target on shares of Ready Capital from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Finally, B. Riley decreased their price target on shares of Ready Capital from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Monday, August 11th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $5.30.

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.