Ready Capital Co. (NYSE:RC) Shares Sold by Brighton Jones LLC

Brighton Jones LLC cut its position in shares of Ready Capital Co. (NYSE:RC) by 33.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 13,762 shares of the real estate investment trust’s stock after selling 6,766 shares during the period. Brighton Jones LLC’s holdings in Ready Capital were worth $141,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new stake in shares of Ready Capital in the 4th quarter worth about $30,000. Allspring Global Investments Holdings LLC raised its position in Ready Capital by 112.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the real estate investment trust’s stock worth $77,000 after acquiring an additional 4,039 shares during the last quarter. Denali Advisors LLC acquired a new position in Ready Capital during the fourth quarter worth about $102,000. Anfield Capital Management LLC purchased a new stake in shares of Ready Capital in the third quarter valued at about $103,000. Finally, Wolverine Asset Management LLC grew its position in shares of Ready Capital by 23.2% in the third quarter. Wolverine Asset Management LLC now owns 10,605 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 2,000 shares during the last quarter. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Kevin M. Luebbers acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were bought at an average cost of $8.43 per share, for a total transaction of $42,150.00. Following the acquisition, the director now directly owns 119,925 shares in the company, valued at approximately $1,010,967.75. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Ready Capital news, Director Gilbert E. Nathan purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $8.65 per share, with a total value of $86,500.00. Following the transaction, the director now owns 83,099 shares in the company, valued at $718,806.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin M. Luebbers purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was bought at an average price of $8.43 per share, with a total value of $42,150.00. Following the completion of the acquisition, the director now owns 119,925 shares in the company, valued at approximately $1,010,967.75. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 17,150 shares of company stock valued at $148,280. 0.95% of the stock is currently owned by company insiders.

Ready Capital Price Performance

Ready Capital stock opened at $8.66 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.89 and a current ratio of 1.89. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 3.70 and a beta of 1.41. Ready Capital Co. has a 1 year low of $8.25 and a 1 year high of $11.97. The firm has a 50 day moving average price of $8.76 and a 200 day moving average price of $9.52.

Ready Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 13.86%. Ready Capital’s payout ratio is 51.28%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RC shares. 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 reaffirmed a “buy” rating and set a $12.00 price target (down from $13.00) on shares of Ready Capital in a research note on Monday, March 4th. StockNews.com downgraded shares of Ready Capital from a “buy” rating to a “hold” rating in a report on Monday, March 4th. BTIG Research reduced their price objective on shares of Ready Capital from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 price target (down from $10.00) on shares of Ready Capital in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.93.

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.