Seed Wealth Management Inc. Purchases 12,000 Shares of Ready Capital Co. (NYSE:RC)

Seed Wealth Management Inc. grew its position in shares of Ready Capital Co. (NYSE:RC) by 93.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,800 shares of the real estate investment trust’s stock after buying an additional 12,000 shares during the quarter. Seed Wealth Management Inc.’s holdings in Ready Capital were worth $169,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RC. Clear Harbor Asset Management LLC lifted its holdings in Ready Capital by 84.0% during the third quarter. Clear Harbor Asset Management LLC now owns 1,440,250 shares of the real estate investment trust’s stock worth $10,989,000 after acquiring an additional 657,465 shares during the period. Wolverine Asset Management LLC increased its position in shares of Ready Capital by 2,902.2% during the 3rd quarter. Wolverine Asset Management LLC now owns 402,291 shares of the real estate investment trust’s stock valued at $3,069,000 after purchasing an additional 388,891 shares during the last quarter. Barclays PLC raised its stake in shares of Ready Capital by 205.9% during the 3rd quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust’s stock worth $3,699,000 after purchasing an additional 326,467 shares during the period. State Street Corp boosted its holdings in shares of Ready Capital by 4.8% in the 3rd quarter. State Street Corp now owns 6,315,147 shares of the real estate investment trust’s stock worth $49,746,000 after buying an additional 287,068 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in Ready Capital by 99.5% during the third quarter. Advisors Asset Management Inc. now owns 399,401 shares of the real estate investment trust’s stock valued at $3,047,000 after buying an additional 199,202 shares during the period. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on RC. UBS Group lowered 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 report on Friday, November 15th. JMP Securities lowered their price target on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a report on Thursday, December 12th. Piper Sandler reduced their price objective on Ready Capital from $9.50 to $8.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, B. Riley restated a “neutral” rating and issued a $10.00 target price (down from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.82.

Ready Capital Stock Performance

NYSE:RC opened at $6.61 on Tuesday. The business’s fifty day moving average is $7.17 and its 200 day moving average is $7.77. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -9.44 and a beta of 1.43. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. Ready Capital Co. has a 52-week low of $6.45 and a 52-week high of $10.02.

Ready Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 15.13%. The ex-dividend date of this dividend is Tuesday, December 31st. Ready Capital’s dividend payout ratio is presently -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.