Ready Capital Co. (NYSE:RC) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC reduced its holdings in shares of Ready Capital Co. (NYSE:RC) by 5.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 86,701 shares of the real estate investment trust’s stock after selling 5,168 shares during the period. MetLife Investment Management LLC owned approximately 0.05% of Ready Capital worth $662,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. CWM LLC raised its stake in shares of Ready Capital by 94.6% during the second quarter. CWM LLC now owns 3,361 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 1,634 shares during the last quarter. KBC Group NV increased its stake in Ready Capital by 64.1% in the 3rd quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 3,248 shares during the period. Xponance Inc. purchased a new position in Ready Capital during the 2nd quarter worth $84,000. Choreo LLC acquired a new stake in shares of Ready Capital in the 2nd quarter worth $91,000. Finally, Naviter Wealth LLC boosted its holdings in shares of Ready Capital by 35.0% in the second quarter. Naviter Wealth LLC now owns 13,500 shares of the real estate investment trust’s stock valued at $114,000 after acquiring an additional 3,500 shares in the last quarter. 55.87% of the stock is currently owned by institutional investors and hedge funds.

Ready Capital Stock Up 1.0 %

RC opened at $7.39 on Friday. Ready Capital Co. has a one year low of $6.65 and a one year high of $11.67. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -10.56 and a beta of 1.43. The business’s fifty day moving average is $7.18 and its two-hundred day moving average is $8.00. 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 Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a $0.25 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 13.53%. Ready Capital’s payout ratio is -142.86%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Piper Sandler cut their price target on shares of Ready Capital from $9.50 to $8.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Wedbush reissued a “neutral” rating and issued a $9.00 price target on shares of Ready Capital in a report on Monday, August 12th. Keefe, Bruyette & Woods dropped their price objective on Ready Capital from $8.00 to $7.75 and set an “underperform” rating on the stock in a report on Monday, August 12th. Finally, UBS Group reduced their target price on Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Friday, November 15th. 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 company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.04.

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.