Victory Capital Management Inc. Decreases Holdings in Ready Capital Co. (NYSE:RC)

Victory Capital Management Inc. decreased its position in shares of Ready Capital Co. (NYSE:RC) by 6.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,676 shares of the real estate investment trust’s stock after selling 4,023 shares during the period. Victory Capital Management Inc.’s holdings in Ready Capital were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC raised its holdings in shares of Ready Capital by 94.6% in the second quarter. CWM LLC now owns 3,361 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 1,634 shares during the last quarter. Xponance Inc. purchased a new position in shares of Ready Capital in the second quarter worth $84,000. Choreo LLC purchased a new position in shares of Ready Capital in the second quarter worth $91,000. Modera Wealth Management LLC purchased a new position in shares of Ready Capital in the third quarter worth $107,000. Finally, Naviter Wealth LLC raised its holdings in shares of Ready Capital by 35.0% in the second quarter. Naviter Wealth LLC now owns 13,500 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Ready Capital Stock Down 0.7 %

Shares of NYSE RC opened at $7.37 on Friday. The company’s 50-day simple moving average is $7.23 and its 200-day simple moving average is $8.05. Ready Capital Co. has a 52-week low of $6.65 and a 52-week high of $11.67. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -10.53 and a beta of 1.42. 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 Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 13.57%. Ready Capital’s dividend payout ratio (DPR) is -142.86%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RC. Piper Sandler decreased their price target on shares of Ready Capital from $9.50 to $8.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Keefe, Bruyette & Woods cut their price objective on shares of Ready Capital from $8.00 to $7.75 and set an “underperform” rating on the stock in a research note on Monday, August 12th. UBS Group cut their price objective on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Finally, Wedbush reiterated a “neutral” rating and issued a $9.00 price objective on shares of Ready Capital in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $9.04.

Ready Capital 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.