Ready Capital Co. (NYSE:RC) Receives Average Recommendation of “Hold” from Brokerages

Ready Capital Co. (NYSE:RCGet Free Report) has been given a consensus recommendation of “Hold” by the five analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $11.08.

Several research firms have commented on RC. B. Riley reiterated a “buy” rating and issued a $12.00 price objective (down previously from $13.00) on shares of Ready Capital in a research note on Monday, March 4th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 price target (down previously from $10.00) on shares of Ready Capital in a research note on Monday, March 4th. UBS Group decreased their price target on shares of Ready Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a research note on Wednesday, March 20th. StockNews.com lowered shares of Ready Capital from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Finally, Raymond James lowered shares of Ready Capital from an “outperform” rating to a “market perform” rating in a research note on Monday, December 18th.

Get Our Latest Report on Ready Capital

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Ready Capital by 75.0% during the 2nd quarter. BlackRock Inc. now owns 27,249,233 shares of the real estate investment trust’s stock worth $307,371,000 after acquiring an additional 11,675,364 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Ready Capital by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 11,163,763 shares of the real estate investment trust’s stock worth $114,429,000 after acquiring an additional 735,949 shares during the last quarter. State Street Corp lifted its holdings in shares of Ready Capital by 66.3% during the 2nd quarter. State Street Corp now owns 5,798,238 shares of the real estate investment trust’s stock worth $66,212,000 after acquiring an additional 2,312,011 shares during the last quarter. Waterfall Asset Management LLC bought a new stake in shares of Ready Capital during the 4th quarter worth $40,067,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Ready Capital by 90.2% during the 2nd quarter. Geode Capital Management LLC now owns 3,129,990 shares of the real estate investment trust’s stock worth $35,306,000 after acquiring an additional 1,484,317 shares during the last quarter. 55.87% of the stock is owned by institutional investors.

Ready Capital Trading Up 2.2 %

NYSE:RC opened at $8.93 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.89 and a current ratio of 1.89. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 3.82 and a beta of 1.40. Ready Capital has a 52 week low of $8.30 and a 52 week high of $11.97. The firm has a 50-day moving average price of $9.11 and a two-hundred day moving average price of $9.84.

Ready Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 13.44%. The ex-dividend date is Wednesday, March 27th. Ready Capital’s dividend payout ratio (DPR) is presently 51.28%.

Ready Capital Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Ready Capital (NYSE:RC)

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