Ready Capital (NYSE:RC) Upgraded at UBS Group

UBS Group upgraded shares of Ready Capital (NYSE:RC) to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

A number of other research analysts have also issued reports on RC. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ready Capital in a research note on Tuesday, June 2nd. Zacks Research downgraded shares of Ready Capital from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. Three analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $2.62.

Ready Capital Price Performance

Ready Capital stock opened at $1.55 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.60 and a quick ratio of 1.60. The business has a 50 day simple moving average of $1.72 and a 200-day simple moving average of $1.83. Ready Capital has a 12 month low of $1.50 and a 12 month high of $4.58. The stock has a market capitalization of $256.92 million, a PE ratio of -0.49 and a beta of 1.43.

Ready Capital (NYSE:RC) last posted its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.18). The firm had revenue of $130.55 million during the quarter, compared to analysts’ expectations of $68.67 million. Ready Capital had a negative net margin of 102.10% and a negative return on equity of 14.69%. Equities analysts predict that Ready Capital will post -0.94 earnings per share for the current year.

Ready Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, June 30th. Ready Capital’s dividend payout ratio (DPR) is presently -1.26%.

Institutional Investors Weigh In On Ready Capital

Institutional investors and hedge funds have recently modified their holdings of the company. UBS Group AG boosted its position in Ready Capital by 161.4% during the fourth quarter. UBS Group AG now owns 3,155,403 shares of the real estate investment trust’s stock worth $6,879,000 after purchasing an additional 1,948,208 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Ready Capital in the fourth quarter valued at $575,000. Alpine Global Management LLC purchased a new position in shares of Ready Capital in the fourth quarter valued at $190,000. Aristides Capital LLC purchased a new position in shares of Ready Capital in the fourth quarter valued at $189,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Ready Capital during the 4th quarter worth $470,000. Institutional investors and hedge funds own 55.87% of the company’s stock.

About Ready Capital

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.