Clear Harbor Asset Management LLC Has $6.42 Million Holdings in Ready Capital Co. (NYSE:RC)

Clear Harbor Asset Management LLC trimmed its position in Ready Capital Co. (NYSE:RC) by 34.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 940,950 shares of the real estate investment trust’s stock after selling 499,300 shares during the quarter. Clear Harbor Asset Management LLC owned approximately 0.56% of Ready Capital worth $6,417,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in RC. Seed Wealth Management Inc. boosted its holdings in shares of Ready Capital by 93.8% during the fourth quarter. Seed Wealth Management Inc. now owns 24,800 shares of the real estate investment trust’s stock worth $169,000 after purchasing an additional 12,000 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Ready Capital by 50.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 336,773 shares of the real estate investment trust’s stock valued at $2,570,000 after buying an additional 112,934 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Ready Capital by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 792,536 shares of the real estate investment trust’s stock valued at $6,047,000 after acquiring an additional 25,545 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Ready Capital by 4.1% in the third quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust’s stock worth $29,292,000 after acquiring an additional 150,479 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Ready Capital by 205.9% during the third quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust’s stock worth $3,699,000 after acquiring an additional 326,467 shares in the last quarter. 55.87% of the stock is currently owned by institutional investors and hedge funds.

Ready Capital Price Performance

RC opened at $7.06 on Tuesday. Ready Capital Co. has a 1-year low of $6.45 and a 1-year high of $10.00. The business has a 50 day moving average of $7.14 and a 200-day moving average of $7.72. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67.

Ready Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 14.17%. Ready Capital’s payout ratio is -142.86%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RC shares. Keefe, Bruyette & Woods cut their price target on Ready Capital from $6.75 to $6.25 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. B. Riley reiterated 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. UBS Group dropped their price target 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, JMP Securities reduced their price objective on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Ready Capital currently has a consensus rating of “Hold” and a consensus target price of $8.61.

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.