Ready Capital Corp (NYSE:RC) Receives Consensus Rating of “Reduce” from Analysts

Ready Capital Corp (NYSE:RC) has been given a consensus recommendation of “Reduce” by the eight analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $3.55.

A number of equities analysts recently commented on RC shares. Piper Sandler cut their price objective on Ready Capital from $3.50 to $2.50 and set a “neutral” rating on the stock in a research note on Monday, December 22nd. UBS Group lowered their price target on shares of Ready Capital from $3.50 to $2.75 and set a “neutral” rating for the company in a report on Friday, November 14th. Keefe, Bruyette & Woods reduced their price objective 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. Zacks Research upgraded shares of Ready Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ready Capital in a report on Thursday, January 22nd.

Ready Capital Stock Performance

Shares of Ready Capital stock opened at $2.12 on Friday. The stock has a market cap of $342.90 million, a price-to-earnings ratio of -1.11 and a beta of 1.46. Ready Capital has a twelve month low of $1.97 and a twelve month high of $7.03. The company’s fifty day moving average is $2.31 and its 200 day moving average is $3.23. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.79.

Ready Capital (NYSE:RC) last announced its earnings results on Thursday, November 6th. The real estate investment trust reported ($0.94) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.96). Ready Capital had a negative return on equity of 7.02% and a negative net margin of 47.30%.The company had revenue of $85.43 million for the quarter, compared to analyst estimates of $149.14 million. Sell-side analysts forecast that Ready Capital will post 0.93 EPS for the current year.

Ready Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, December 31st. Ready Capital’s payout ratio is currently -2.09%.

Institutional Investors Weigh In On Ready Capital

Several large investors have recently added to or reduced their stakes in RC. Penserra Capital Management LLC grew its holdings in Ready Capital by 61.8% in the second quarter. Penserra Capital Management LLC now owns 244,788 shares of the real estate investment trust’s stock worth $1,069,000 after purchasing an additional 93,477 shares during the period. XTX Topco Ltd boosted its position in shares of Ready Capital by 153.0% during the 2nd quarter. XTX Topco Ltd now owns 269,425 shares of the real estate investment trust’s stock worth $1,177,000 after purchasing an additional 162,936 shares in the last quarter. Robertson Stephens Wealth Management LLC grew its stake in shares of Ready Capital by 18.6% in the 2nd quarter. Robertson Stephens Wealth Management LLC now owns 46,148 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 7,248 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Ready Capital by 887.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 398,339 shares of the real estate investment trust’s stock valued at $1,741,000 after buying an additional 358,008 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in Ready Capital by 9.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 101,786 shares of the real estate investment trust’s stock valued at $444,000 after buying an additional 8,404 shares in the last quarter. Institutional investors and hedge funds own 55.87% of the company’s stock.

Ready Capital Company Profile

Ready Capital Corporation is a specialty finance real estate investment trust (REIT) that originates, acquires and manages commercial real estate loans and related assets. The company offers financing solutions across a variety of property types, including multifamily, office, retail, industrial, hospitality and mixed-use assets. Ready Capital focuses on delivering flexible loan structures to meet the diverse needs of borrowers in the small balance and middle-market sectors.

Through its small balance commercial real estate lending platform, Ready Capital provides loans typically ranging from $1 million to $15 million for acquisitions, refinancings, renovations and bridge financing.