Ready Capital (NYSE:RC) Share Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Ready Capital Corp (NYSE:RC)’s stock price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.01 and traded as low as $1.6650. Ready Capital shares last traded at $1.7450, with a volume of 2,860,855 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of Ready Capital in a report on Thursday, January 22nd. UBS Group reduced their target price on Ready Capital from $3.50 to $2.75 and set a “neutral” rating on the stock in a research note on Friday, November 14th. Keefe, Bruyette & Woods decreased their target price on Ready Capital from $3.50 to $2.50 and set an “underperform” rating for the company in a report on Wednesday, November 12th. Finally, Piper Sandler cut their price target on shares of Ready Capital from $3.50 to $2.50 and set a “neutral” rating on the stock in a report on Monday, December 22nd. Six investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $3.55.

Ready Capital Stock 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 business’s 50-day moving average is $2.15 and its 200-day moving average is $3.01. The company has a market capitalization of $282.91 million, a PE ratio of -0.91 and a beta of 1.45.

Ready Capital Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were paid a $0.01 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.04 annualized dividend and a dividend yield of 2.3%. Ready Capital’s dividend payout ratio is presently -2.09%.

Hedge Funds Weigh In On Ready Capital

Several large investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd purchased a new stake in Ready Capital during the 1st quarter valued at about $89,000. United Services Automobile Association purchased a new stake in shares of Ready Capital during the first quarter valued at approximately $59,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Ready Capital by 2.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 442,432 shares of the real estate investment trust’s stock valued at $2,252,000 after acquiring an additional 9,892 shares in the last quarter. Focus Partners Wealth raised its holdings in Ready Capital by 13.1% in the 1st quarter. Focus Partners Wealth now owns 263,820 shares of the real estate investment trust’s stock worth $1,343,000 after acquiring an additional 30,477 shares during the last quarter. Finally, Intech Investment Management LLC raised its holdings in Ready Capital by 13.1% in the 1st quarter. Intech Investment Management LLC now owns 230,177 shares of the real estate investment trust’s stock worth $1,172,000 after acquiring an additional 26,607 shares during the last quarter. Hedge funds and other institutional investors 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.