Mission Wealth Management LP Has $365,000 Stock Position in Ready Capital Co. (NYSE:RC)

Mission Wealth Management LP decreased its holdings in Ready Capital Co. (NYSE:RC) by 91.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 53,570 shares of the real estate investment trust’s stock after selling 582,745 shares during the period. Mission Wealth Management LP’s holdings in Ready Capital were worth $365,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RC. Barclays PLC boosted its position in Ready Capital by 205.9% during the third quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust’s stock valued at $3,699,000 after acquiring an additional 326,467 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Ready Capital by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,580 shares of the real estate investment trust’s stock valued at $14,257,000 after acquiring an additional 195,663 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Ready Capital by 50.5% during the third quarter. JPMorgan Chase & Co. now owns 336,773 shares of the real estate investment trust’s stock valued at $2,570,000 after acquiring an additional 112,934 shares during the last quarter. GraniteShares Advisors LLC bought a new stake in Ready Capital during the fourth quarter valued at $2,480,000. Finally, Geode Capital Management LLC boosted its position in Ready Capital by 4.1% during the third quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust’s stock valued at $29,292,000 after acquiring an additional 150,479 shares during the last quarter. Institutional investors own 55.87% of the company’s stock.

Ready Capital Trading Up 0.1 %

RC opened at $4.96 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67. The firm has a market capitalization of $835.07 million, a PE ratio of -7.08 and a beta of 1.43. Ready Capital Co. has a fifty-two week low of $4.74 and a fifty-two week high of $9.53. The company’s 50-day moving average is $6.73 and its 200 day moving average is $7.23.

Ready Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 annualized dividend and a yield of 10.09%. Ready Capital’s dividend payout ratio (DPR) is -142.86%.

Wall Street Analysts Forecast Growth

RC has been the topic of several research reports. Keefe, Bruyette & Woods dropped their price objective on shares of Ready Capital from $6.25 to $4.00 and set an “underperform” rating on the stock in a report on Wednesday. JMP Securities dropped their price objective 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. B. Riley reiterated a “neutral” rating and set a $10.00 price objective (down previously from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. Wedbush restated a “neutral” rating and issued a $6.00 target price (down previously from $8.00) on shares of Ready Capital in a report on Tuesday. Finally, Citizens Jmp lowered shares of Ready Capital from an “outperform” rating to a “market perform” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Ready Capital presently has a consensus rating of “Hold” and a consensus price target of $7.86.

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.