Ready Capital (NYSE:RC) Sets New 1-Year Low at $8.25

Shares of Ready Capital Co. (NYSE:RC) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $8.25 and last traded at $8.27, with a volume of 1249552 shares. The stock had previously closed at $8.39.

Analysts Set New Price Targets

RC has been the subject of several research reports. UBS Group decreased their target price on Ready Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a research report on Wednesday, March 20th. B. Riley restated a “buy” rating and set a $12.00 price objective (down previously from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. Raymond James lowered Ready Capital from an “outperform” rating to a “market perform” rating in a research report on Monday, December 18th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 price objective (down previously from $10.00) on shares of Ready Capital in a research report on Monday, March 4th. Finally, StockNews.com lowered Ready Capital from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.08.

Ready Capital Stock Down 0.5 %

The business has a 50 day simple moving average of $8.87 and a 200 day simple moving average of $9.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.89 and a quick ratio of 1.89. The stock has a market cap of $1.44 billion, a PE ratio of 3.59 and a beta of 1.40.

Ready Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.20 annualized dividend and a dividend yield of 14.37%. Ready Capital’s dividend payout ratio (DPR) is presently 51.28%.

Insider Transactions at Ready Capital

In other Ready Capital news, Director Kevin M. Luebbers acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was acquired at an average price of $8.43 per share, with a total value of $42,150.00. Following the transaction, the director now owns 119,925 shares of the company’s stock, valued at $1,010,967.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Ready Capital news, Director Gilbert E. Nathan acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $8.65 per share, with a total value of $86,500.00. Following the transaction, the director now owns 83,099 shares of the company’s stock, valued at $718,806.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kevin M. Luebbers acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were acquired at an average cost of $8.43 per share, with a total value of $42,150.00. Following the transaction, the director now directly owns 119,925 shares in the company, valued at approximately $1,010,967.75. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 17,150 shares of company stock worth $148,280. 0.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ready Capital

Large investors have recently added to or reduced their stakes in the company. Pathstone Family Office LLC raised its holdings in shares of Ready Capital by 4.0% in the 4th quarter. Pathstone Family Office LLC now owns 21,232 shares of the real estate investment trust’s stock worth $237,000 after buying an additional 811 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Ready Capital by 8.8% in the 4th quarter. Teacher Retirement System of Texas now owns 11,383 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 918 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Ready Capital by 8.0% in the 4th quarter. CIBC Asset Management Inc now owns 12,560 shares of the real estate investment trust’s stock worth $140,000 after buying an additional 935 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Ready Capital by 9.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 11,796 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 1,007 shares in the last quarter. Finally, American International Group Inc. raised its holdings in shares of Ready Capital by 2.8% in the 2nd quarter. American International Group Inc. now owns 39,633 shares of the real estate investment trust’s stock worth $472,000 after buying an additional 1,090 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 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.