Kingswood Wealth Advisors LLC Has $53,000 Stock Holdings in Ready Capital Corp $RC

Kingswood Wealth Advisors LLC trimmed its position in shares of Ready Capital Corp (NYSE:RC) by 64.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,047 shares of the real estate investment trust’s stock after selling 21,622 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Ready Capital were worth $53,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Simplicity Wealth LLC grew its stake in shares of Ready Capital by 100.0% in the second quarter. Simplicity Wealth LLC now owns 60,000 shares of the real estate investment trust’s stock worth $262,000 after acquiring an additional 30,000 shares during the last quarter. GraniteShares Advisors LLC increased its holdings in shares of Ready Capital by 6.7% during the 2nd quarter. GraniteShares Advisors LLC now owns 412,967 shares of the real estate investment trust’s stock worth $1,805,000 after purchasing an additional 25,806 shares during the period. Sage Rhino Capital LLC bought a new position in shares of Ready Capital during the 2nd quarter worth about $47,000. State of Alaska Department of Revenue raised its position in shares of Ready Capital by 9.0% during the second quarter. State of Alaska Department of Revenue now owns 101,786 shares of the real estate investment trust’s stock valued at $444,000 after buying an additional 8,404 shares during the last quarter. Finally, Norden Group LLC lifted its stake in shares of Ready Capital by 54.8% in the second quarter. Norden Group LLC now owns 71,182 shares of the real estate investment trust’s stock valued at $311,000 after buying an additional 25,197 shares during the period. 55.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RC. B. Riley lowered their price objective on Ready Capital from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Monday, August 11th. UBS Group lowered their price target on shares of Ready Capital from $4.50 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, August 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ready Capital in a report on Wednesday, October 8th. Keefe, Bruyette & Woods decreased their target price 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. Finally, Wall Street Zen lowered shares of Ready Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $5.40.

Ready Capital Trading Down 0.3%

Shares of RC opened at $3.45 on Monday. The stock’s fifty day simple moving average is $4.04 and its 200-day simple moving average is $4.31. The firm has a market capitalization of $566.93 million, a PE ratio of -1.86 and a beta of 1.45. Ready Capital Corp has a 12-month low of $3.42 and a 12-month high of $7.64. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.76.

Ready Capital (NYSE:RC) last released its earnings results on Tuesday, September 9th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter. The business had revenue of ($9.77) million for the quarter. Ready Capital had a negative net margin of 40.59% and a positive return on equity of 3.76%. As a group, research analysts predict that Ready Capital Corp will post 0.93 earnings per share for the current year.

Ready Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.50 annualized dividend and a yield of 14.5%. Ready Capital’s dividend payout ratio is presently -27.03%.

About Ready Capital

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.