Ready Capital Corp (NYSE:RC) Receives Average Rating of “Reduce” from Brokerages

Ready Capital Corp (NYSE:RC) has been given an average rating of “Reduce” by the eight ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $4.95.

Several equities analysts have recently commented on the stock. B. Riley lowered their target price on shares of Ready Capital from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Monday, August 11th. UBS Group reduced their price target on shares of Ready Capital from $3.50 to $2.75 and set a “neutral” rating on the stock in a report on Friday, November 14th. Keefe, Bruyette & Woods dropped their price objective on shares of Ready Capital from $3.50 to $2.50 and set an “underperform” rating for the company in a report on Wednesday, November 12th. Zacks Research upgraded Ready Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Finally, Wall Street Zen downgraded Ready Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th.

Ready Capital Stock Performance

NYSE RC opened at $2.47 on Tuesday. 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 has a twelve month low of $2.32 and a twelve month high of $7.64. The business has a 50-day moving average price of $3.35 and a 200-day moving average price of $3.96. The firm has a market cap of $400.46 million, a price-to-earnings ratio of -1.29 and a beta of 1.45.

Ready Capital (NYSE:RC) last posted its quarterly earnings results on Tuesday, September 9th. The real estate investment trust reported ($0.10) EPS for the quarter. Ready Capital had a negative return on equity of 7.02% and a negative net margin of 47.30%.The business had revenue of ($9.77) million during the quarter. As a group, equities research analysts predict that Ready Capital will post 0.93 EPS for the current fiscal year.

Ready Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 20.2%. The ex-dividend date of this dividend was Tuesday, September 30th. Ready Capital’s dividend payout ratio is -26.18%.

Institutional Investors Weigh In On Ready Capital

Several large investors have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. raised its stake in Ready Capital by 163.6% during the second quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 3,600 shares in the last quarter. Larson Financial Group LLC bought a new stake in shares of Ready Capital in the 1st quarter worth about $27,000. US Bancorp DE raised its position in shares of Ready Capital by 404.7% during the 1st quarter. US Bancorp DE now owns 6,021 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 4,828 shares in the last quarter. Bogart Wealth LLC bought a new position in shares of Ready Capital in the 2nd quarter valued at about $31,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in Ready Capital in the first quarter worth about $32,000. Institutional investors own 55.87% of the company’s stock.

About Ready Capital

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.