Patton Albertson Miller Group LLC Sells 60,337 Shares of Ready Capital Co. (NYSE:RC)

Patton Albertson Miller Group LLC decreased its position in Ready Capital Co. (NYSE:RC) by 76.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,054 shares of the real estate investment trust’s stock after selling 60,337 shares during the period. Patton Albertson Miller Group LLC’s holdings in Ready Capital were worth $130,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Public Sector Pension Investment Board boosted its holdings in shares of Ready Capital by 5.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 341,865 shares of the real estate investment trust’s stock worth $2,796,000 after buying an additional 17,279 shares in the last quarter. Xponance Inc. bought a new position in Ready Capital during the second quarter worth $84,000. Marshall Wace LLP acquired a new stake in Ready Capital in the second quarter worth $514,000. AQR Capital Management LLC bought a new stake in Ready Capital in the second quarter valued at $146,000. Finally, Algert Global LLC acquired a new position in shares of Ready Capital during the second quarter valued at about $135,000. Institutional investors own 55.87% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Ready Capital Price Performance

RC opened at $6.82 on Monday. The firm’s fifty day moving average price is $7.12 and its two-hundred day moving average price is $7.67. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -9.74 and a beta of 1.43. 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 Co. has a 1 year low of $6.45 and a 1 year high of $9.96.

Ready Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 14.67%. Ready Capital’s dividend payout ratio (DPR) is -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.