Ready Capital Corp (NYSE:RC) Receives $3.81 Consensus PT from Analysts

Shares of Ready Capital Corp (NYSE:RC) have earned a consensus recommendation of “Reduce” from the seven brokerages that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $3.8125.

A number of analysts recently issued reports on RC shares. Keefe, Bruyette & Woods lowered their target price on Ready Capital from $3.50 to $2.50 and set an “underperform” rating on the stock in a research report on Wednesday, November 12th. UBS Group lowered their price target on Ready Capital from $3.50 to $2.75 and set a “neutral” rating on the stock in a research report on Friday, November 14th. Zacks Research raised Ready Capital from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ready Capital in a research note on Wednesday, October 8th.

Hedge Funds Weigh In On Ready Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of RC. Nexpoint Asset Management L.P. acquired a new stake in Ready Capital during the 1st quarter worth approximately $4,444,000. Public Sector Pension Investment Board lifted its holdings in shares of Ready Capital by 26.9% during the first quarter. Public Sector Pension Investment Board now owns 534,474 shares of the real estate investment trust’s stock worth $2,720,000 after buying an additional 113,160 shares in the last quarter. Graham Capital Management L.P. lifted its holdings in shares of Ready Capital by 79.4% during the first quarter. Graham Capital Management L.P. now owns 214,903 shares of the real estate investment trust’s stock worth $1,094,000 after buying an additional 95,087 shares in the last quarter. Invesco Ltd. boosted its position in shares of Ready Capital by 16.1% in the first quarter. Invesco Ltd. now owns 3,618,181 shares of the real estate investment trust’s stock valued at $18,417,000 after acquiring an additional 502,162 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Ready Capital in the first quarter valued at about $1,574,000. Institutional investors own 55.87% of the company’s stock.

Ready Capital Price Performance

NYSE RC opened at $2.21 on Friday. The firm’s 50 day moving average is $2.75 and its 200-day moving average is $3.71. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $358.31 million, a PE ratio of -1.16 and a beta of 1.44. Ready Capital has a 12-month low of $2.09 and a 12-month high of $7.41.

Ready Capital (NYSE:RC) last announced its 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 for the quarter. Equities research analysts anticipate that Ready Capital will post 0.93 earnings per share for the current fiscal year.

Ready Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.04 annualized dividend and a dividend yield of 1.8%. Ready Capital’s payout ratio is currently -26.18%.

Ready Capital Company Profile

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.