B. Riley reaffirmed their buy rating on shares of Ready Capital (NYSE:RC) in a research note released on Monday morning, Zacks.com reports. B. Riley also issued estimates for Ready Capital’s Q4 2019 earnings at $0.41 EPS, FY2019 earnings at $1.51 EPS, Q1 2020 earnings at $0.42 EPS, Q2 2020 earnings at $0.43 EPS, FY2020 earnings at $1.75 EPS, Q1 2021 earnings at $0.46 EPS, Q2 2021 earnings at $0.44 EPS, Q3 2021 earnings at $0.45 EPS and Q4 2021 earnings at $0.46 EPS.
Several other analysts have also weighed in on RC. Sandler O’Neill upgraded shares of Ready Capital from a hold rating to a buy rating and set a $17.50 target price for the company in a research note on Monday, December 23rd. Zacks Investment Research upgraded shares of Ready Capital from a sell rating to a hold rating in a research note on Saturday. Finally, Compass Point lowered shares of Ready Capital from a buy rating to a neutral rating and set a $16.50 target price for the company. in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $17.10.
RC stock opened at $15.63 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.37 and a quick ratio of 1.37. Ready Capital has a 1-year low of $14.30 and a 1-year high of $16.90. The firm has a fifty day moving average price of $15.52 and a two-hundred day moving average price of $15.43. The firm has a market cap of $810.68 million, a price-to-earnings ratio of 8.88 and a beta of 0.66.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, December 30th. This represents a $1.60 annualized dividend and a yield of 10.24%. Ready Capital’s payout ratio is 90.91%.
Institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can grew its position in shares of Ready Capital by 189.6% during the second quarter. Bank of Montreal Can now owns 4,008 shares of the real estate investment trust’s stock worth $60,000 after acquiring an additional 2,624 shares during the last quarter. Synovus Financial Corp grew its position in shares of Ready Capital by 11.9% during the third quarter. Synovus Financial Corp now owns 5,901 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 629 shares during the last quarter. Metropolitan Life Insurance Co NY bought a new position in shares of Ready Capital during the first quarter worth about $90,000. Public Employees Retirement System of Ohio bought a new position in shares of Ready Capital during the second quarter worth about $131,000. Finally, Susquehanna International Group LLP bought a new position in shares of Ready Capital during the second quarter worth about $164,000. Institutional investors and hedge funds own 40.62% of the company’s stock.
About Ready Capital
Ready Capital Corporation operates as a real estate finance company in the United States. The company originates, acquires, finances, and services small balance commercial (SBC) loans, small business administration (SBA) loans, and residential mortgage loans, as well as mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.
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