Ready Capital Corp (NYSE:RC) Stock Has Consensus Target Price of $1.17

Key Points

• Analysts have a “Reduce” consensus on Ready Capital: two recommend selling and three recommend holding. Their average 12-month price target is $1.17.
• Shares opened at $0.82, matching their reported one-year low. The company’s latest quarterly loss was $0.53 per share, wider than analysts’ expected loss of $0.42.
• Ready Capital paid a quarterly dividend of $0.01 per share, equivalent to $0.04 annually and a reported yield of 4.9%.

Shares of Ready Capital Corp (NYSE:RC - Get Free Report) have been given a consensus recommendation of "Reduce" by the five analysts that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $1.17.

Several equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of Ready Capital from a "strong sell" rating to a "sell" rating in a research report on Saturday. Zacks Research raised shares of Ready Capital from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Keefe, Bruyette & Woods cut their price target on shares of Ready Capital from $1.40 to $1.25 and set an "underperform" rating on the stock in a report on Friday, October 9th. Piper Sandler reduced their price objective on shares of Ready Capital from $1.25 to $1.00 and set a "neutral" rating on the stock in a research note on Monday, November 9th. Finally, UBS Group reduced their price objective on shares of Ready Capital from $2.00 to $1.25 and set a "neutral" rating on the stock in a research note on Thursday.

Institutional Investors Weigh In On Ready Capital

A number of institutional investors have recently made changes to their positions in the stock. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Ready Capital in the second quarter valued at about $26,000. Public Employees Retirement System of Ohio acquired a new position in shares of Ready Capital in the second quarter worth approximately $28,000. HB Wealth Management LLC lifted its stake in shares of Ready Capital by 44.2% in the second quarter. HB Wealth Management LLC now owns 18,951 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 5,812 shares during the period. HBK Sorce Advisory LLC acquired a new position in shares of Ready Capital in the second quarter worth approximately $30,000. Finally, MJP Associates Inc. ADV acquired a new position in shares of Ready Capital in the second quarter worth approximately $41,000. Institutional investors own 55.87% of the company's stock.

Ready Capital Stock Performance

Ready Capital stock opened at $0.82 on Friday. The business has a 50 day moving average of $1.26 and a 200-day moving average of $1.62. Ready Capital has a 1 year low of $0.82 and a 1 year high of $2.80. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.88 and a quick ratio of 1.91. The company has a market capitalization of $132.03 million, a P/E ratio of -0.22 and a beta of 1.55.

Ready Capital (NYSE:RC - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported ($0.53) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.11). Ready Capital had a negative net margin of 163.95% and a negative return on equity of 9.25%. The business had revenue of $25.33 million during the quarter, compared to the consensus estimate of $23.10 million. On average, equities research analysts predict that Ready Capital will post -1.01 earnings per share for the current year.

Ready Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.04 annualized dividend and a yield of 4.9%. Ready Capital's payout ratio is presently -1.08%.

Ready Capital Company Profile

Ready Capital Corporation is a real estate finance company focused on commercial real estate lending. It originates, acquires, finances and services loans secured by commercial properties, including bridge and construction loans for property owners and investors. The company also invests in commercial real estate-related assets and provides financing through programs such as Small Business Administration lending. Its activities serve borrowers and property owners across the United States. Ready Capital is externally managed by Waterfall Asset Management and trades on the New York Stock Exchange under the symbol RC.

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