Patton Albertson Miller Group LLC Has $606,000 Stock Position in Ready Capital Co. (NYSE:RC)

Patton Albertson Miller Group LLC lessened its stake in Ready Capital Co. (NYSE:RC) by 18.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,391 shares of the real estate investment trust’s stock after selling 17,388 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Ready Capital were worth $606,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of RC. CWM LLC lifted its holdings in Ready Capital by 94.6% in the second quarter. CWM LLC now owns 3,361 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 1,634 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Ready Capital in the 1st quarter valued at $40,000. KBC Group NV boosted its position in shares of Ready Capital by 64.1% in the 3rd quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 3,248 shares during the last quarter. Xponance Inc. acquired a new stake in shares of Ready Capital during the second quarter worth $84,000. Finally, Choreo LLC acquired a new position in Ready Capital in the second quarter valued at about $91,000. 55.87% of the stock is owned by institutional investors.

Ready Capital Trading Down 0.1 %

Shares of Ready Capital stock opened at $7.38 on Tuesday. Ready Capital Co. has a 52-week low of $6.65 and a 52-week high of $11.67. The business’s 50 day simple moving average is $7.29 and its 200 day simple moving average is $8.09. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67.

Ready Capital Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 annualized dividend and a yield of 13.55%. Ready Capital’s dividend payout ratio (DPR) is currently -142.86%.

Analysts Set New Price Targets

RC has been the subject of several analyst reports. Piper Sandler decreased their target price on Ready Capital from $9.50 to $8.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Wedbush reissued a “neutral” rating and set a $9.00 price target on shares of Ready Capital in a research report on Monday, August 12th. UBS Group decreased their price target on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Friday, November 15th. Finally, Keefe, Bruyette & Woods reduced their target price on Ready Capital from $8.00 to $7.75 and set an “underperform” rating on the stock in a report on Monday, August 12th. 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.04.

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.