Ready Capital (NYSE:RC) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

Shares of Ready Capital Corp (NYSE:RC) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.82 and traded as low as $2.53. Ready Capital shares last traded at $2.5450, with a volume of 5,778,037 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Ready Capital from $3.50 to $2.50 and set an “underperform” rating on the stock in a research note on Wednesday, November 12th. UBS Group lowered their price objective on Ready Capital from $3.50 to $2.75 and set a “neutral” rating on the stock in a research report on Friday, November 14th. Zacks Research raised Ready Capital from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. B. Riley decreased their target price on Ready Capital from $6.00 to $4.00 and set a “neutral” rating on the stock in a research note on Monday, August 11th. Finally, Wall Street Zen cut Ready Capital from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $4.95.

Ready Capital Price Performance

The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a fifty day simple moving average of $2.98 and a two-hundred day simple moving average of $3.82. The firm has a market cap of $412.62 million, a PE ratio of -1.33 and a beta of 1.44.

Ready Capital (NYSE:RC) last posted its earnings results on Tuesday, September 9th. The real estate investment trust reported ($0.10) EPS for the quarter. Ready Capital had a negative net margin of 47.30% and a negative return on equity of 7.02%. The firm had revenue of ($9.77) million for the quarter. Equities analysts predict that Ready Capital Corp will post 0.93 EPS for the current fiscal year.

Ready Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th were given a dividend of $0.125 per share. The ex-dividend date was Tuesday, September 30th. This represents a $0.50 annualized dividend and a yield of 19.6%. Ready Capital’s dividend payout ratio (DPR) is -26.18%.

Institutional Trading of Ready Capital

Several hedge funds have recently made changes to their positions in RC. Nomura Asset Management Co. Ltd. increased its stake in Ready Capital by 163.6% during the second quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 3,600 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Ready Capital by 404.7% in the 1st quarter. US Bancorp DE now owns 6,021 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 4,828 shares during the period. Bogart Wealth LLC bought a new position in shares of Ready Capital during the 2nd quarter valued at approximately $31,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Ready Capital during the 1st quarter valued at $32,000. Finally, Huntington National Bank lifted its position in Ready Capital by 234.6% in the third quarter. Huntington National Bank now owns 8,749 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 6,134 shares during the last quarter. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

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.