Ready Capital Corp (RC) to Issue Quarterly Dividend of $0.01 on January 30th

Ready Capital Corp (NYSE:RC) declared a quarterly dividend on Monday, December 15th. Investors of record on Wednesday, December 31st will be given a dividend of 0.01 per share by the real estate investment trust on Friday, January 30th. This represents a c) dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, December 31st.

Ready Capital has decreased its dividend payment by an average of 0.1%annually over the last three years. Ready Capital has a payout ratio of 89.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Ready Capital to earn $1.05 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 47.6%.

Ready Capital Stock Performance

Shares of RC stock opened at $2.22 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.79. Ready Capital has a 12-month low of $2.13 and a 12-month high of $7.64. The business’s 50 day moving average is $2.82 and its two-hundred day moving average is $3.74. The company has a market capitalization of $359.12 million, a P/E ratio of -1.16 and a beta of 1.44.

Ready Capital (NYSE:RC) last announced its earnings results on Tuesday, September 9th. The real estate investment trust reported ($0.10) earnings per share 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 for the quarter. Analysts expect that Ready Capital will post 0.93 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on RC shares. Zacks Research raised shares of Ready Capital from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Keefe, Bruyette & Woods reduced their price target on shares of Ready Capital from $3.50 to $2.50 and set an “underperform” rating for the company in a research report on Wednesday, November 12th. UBS Group decreased their price target on shares of Ready Capital from $3.50 to $2.75 and set a “neutral” rating on the stock in a research note on Friday, November 14th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Ready Capital in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $3.81.

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.