Ready Capital Corp (NYSE:RC) Given Average Recommendation of “Hold” by Analysts

Ready Capital Corp (NYSE:RC) has earned an average rating of “Hold” from the eight analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $7.04.

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods upped their price target on Ready Capital from $3.75 to $4.25 and gave the stock an “underperform” rating in a research note on Thursday, July 10th. UBS Group cut their price target on Ready Capital from $4.75 to $4.50 and set a “neutral” rating for the company in a research note on Wednesday, May 21st.

Ready Capital Price Performance

RC stock opened at $4.23 on Wednesday. The business has a 50 day moving average price of $4.41 and a 200 day moving average price of $5.27. The stock has a market cap of $721.94 million, a price-to-earnings ratio of -2.43 and a beta of 1.43. Ready Capital has a fifty-two week low of $3.93 and a fifty-two week high of $9.54. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.77.

Ready Capital (NYSE:RC) last issued its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.21). Ready Capital had a negative net margin of 34.40% and a positive return on equity of 5.53%. The firm had revenue of $40.24 million during the quarter, compared to analysts’ expectations of $212.33 million. Equities research analysts anticipate that Ready Capital will post 0.93 earnings per share for the current fiscal year.

Ready Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 11.81%. The ex-dividend date is Monday, June 30th. Ready Capital’s dividend payout ratio is presently -28.74%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC grew its holdings in Ready Capital by 822.8% in the fourth quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 4,616 shares during the last quarter. Larson Financial Group LLC acquired a new stake in Ready Capital in the first quarter valued at $27,000. US Bancorp DE grew its holdings in Ready Capital by 404.7% in the first quarter. US Bancorp DE now owns 6,021 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 4,828 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Ready Capital by 3,075.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 6,150 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Ready Capital during the first quarter valued at $32,000. Institutional investors and hedge funds own 55.87% of the company’s stock.

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.