Soltis Investment Advisors LLC Has $13.24 Million Stock Position in Ready Capital Co. (NYSE:RC)

Soltis Investment Advisors LLC decreased its position in Ready Capital Co. (NYSE:RC - Free Report) by 13.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,291,795 shares of the real estate investment trust's stock after selling 202,165 shares during the period. Ready Capital makes up 1.5% of Soltis Investment Advisors LLC's portfolio, making the stock its 11th largest position. Soltis Investment Advisors LLC owned approximately 0.75% of Ready Capital worth $13,241,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RC. Public Employees Retirement System of Ohio boosted its stake in Ready Capital by 163.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,289 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 1,421 shares during the period. FMR LLC boosted its stake in Ready Capital by 37.0% in the 1st quarter. FMR LLC now owns 4,710 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 1,272 shares during the period. Quarry LP boosted its stake in Ready Capital by 1,028.8% in the 1st quarter. Quarry LP now owns 5,881 shares of the real estate investment trust's stock worth $60,000 after purchasing an additional 5,360 shares during the period. Tower Research Capital LLC TRC boosted its stake in Ready Capital by 177.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,985 shares of the real estate investment trust's stock worth $61,000 after purchasing an additional 3,831 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Ready Capital by 112.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the real estate investment trust's stock worth $77,000 after purchasing an additional 4,039 shares during the period. Institutional investors and hedge funds own 55.87% of the company's stock.

Insiders Place Their Bets

In other Ready Capital news, Director Kevin M. Luebbers bought 5,000 shares of the firm's stock in a transaction on Tuesday, March 5th. The shares were purchased at an average price of $8.43 per share, for a total transaction of $42,150.00. Following the transaction, the director now directly owns 119,925 shares in the company, valued at approximately $1,010,967.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Kevin M. Luebbers purchased 5,000 shares of Ready Capital stock in a transaction that occurred on Tuesday, March 5th. The shares were acquired at an average price of $8.43 per share, for a total transaction of $42,150.00. Following the transaction, the director now owns 119,925 shares of the company's stock, valued at approximately $1,010,967.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gilbert E. Nathan purchased 10,000 shares of Ready Capital stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price of $8.65 per share, for a total transaction of $86,500.00. Following the transaction, the director now directly owns 83,099 shares in the company, valued at approximately $718,806.35. The disclosure for this purchase can be found here. Insiders have acquired a total of 17,150 shares of company stock worth $148,280 in the last quarter. Corporate insiders own 0.95% of the company's stock.

Ready Capital Stock Performance

Ready Capital stock traded up $0.09 during trading hours on Tuesday, hitting $8.80. The company had a trading volume of 903,918 shares, compared to its average volume of 1,424,636. The firm has a market cap of $1.52 billion, a PE ratio of 3.72 and a beta of 1.40. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.89 and a quick ratio of 1.89. Ready Capital Co. has a one year low of $8.30 and a one year high of $11.97. The firm has a 50-day moving average of $8.96 and a 200 day moving average of $9.72.

Ready Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 13.64%. Ready Capital's payout ratio is presently 51.28%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods reissued an "underperform" rating and set a $8.00 price target (down from $10.00) on shares of Ready Capital in a research report on Monday, March 4th. B. Riley reissued a "buy" rating and set a $12.00 price target (down from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. UBS Group cut their price target on shares of Ready Capital from $10.50 to $9.50 and set a "neutral" rating on the stock in a research report on Wednesday, March 20th. StockNews.com cut shares of Ready Capital from a "buy" rating to a "hold" rating in a research report on Monday, March 4th. Finally, Raymond James cut shares of Ready Capital from an "outperform" rating to a "market perform" rating in a research report on Monday, December 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $11.08.

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.

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