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

Clear Harbor Asset Management LLC decreased its holdings in shares of Ready Capital Co. (NYSE:RC) by 34.7% in the fourth quarter, Holdings Channel reports. 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’s holdings in Ready Capital were worth $6,417,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in RC. KBC Group NV lifted its holdings in Ready Capital by 64.1% during the 3rd quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 3,248 shares during the last quarter. Xponance Inc. acquired a new position in shares of Ready Capital in the 2nd quarter worth approximately $84,000. Modera Wealth Management LLC bought a new stake in Ready Capital during the 3rd quarter worth approximately $107,000. Fisher Asset Management LLC acquired a new stake in Ready Capital during the 3rd quarter valued at $116,000. Finally, Sanctuary Advisors LLC bought a new position in Ready Capital in the 2nd quarter valued at $126,000. 55.87% of the stock is owned by institutional investors and hedge funds.

Ready Capital Stock Up 4.5 %

Shares of NYSE RC opened at $7.06 on Tuesday. The company has a fifty day moving average price of $7.14 and a 200 day moving average price of $7.72. Ready Capital Co. has a 1-year low of $6.45 and a 1-year high of $10.00. 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 Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently issued reports on RC shares. JMP Securities reduced 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 research report on Thursday, December 12th. Keefe, Bruyette & Woods decreased their price objective on Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a research report on Tuesday, January 14th. B. Riley restated a “neutral” rating and set a $10.00 target price (down previously from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. Finally, UBS Group reduced 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.61.

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.