Ready Capital Co. (NYSE:RC - Get Free Report)'s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $8.25 and last traded at $8.27, with a volume of 1249552 shares trading hands. The stock had previously closed at $8.39.
Analyst Ratings Changes
RC has been the topic of several recent research reports. Raymond James lowered Ready Capital from an "outperform" rating to a "market perform" rating in a report on Monday, December 18th. B. Riley reiterated a "buy" rating and issued a $12.00 price target (down previously from $13.00) on shares of Ready Capital in a report on Monday, March 4th. StockNews.com lowered Ready Capital from a "buy" rating to a "hold" rating in a report on Monday, March 4th. Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $8.00 price target (down previously from $10.00) on shares of Ready Capital in a report on Monday, March 4th. Finally, UBS Group cut their price target on Ready Capital from $10.50 to $9.50 and set a "neutral" rating on the stock in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $11.08.
Check Out Our Latest Analysis on RC
Ready Capital Stock Down 0.7 %
The stock has a fifty day moving average price of $8.86 and a 200 day moving average price of $9.64. 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 capitalization of $1.44 billion, a P/E ratio of 3.56 and a beta of 1.40.
Ready Capital Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 14.41%. The ex-dividend date is Wednesday, March 27th. Ready Capital's dividend payout ratio is 51.28%.
Insider Activity at Ready Capital
In other Ready Capital news, Director Gilbert E. Nathan acquired 10,000 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average price of $8.65 per share, with a total value of $86,500.00. Following the completion of the purchase, the director now owns 83,099 shares of the company's stock, valued at $718,806.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Kevin M. Luebbers purchased 5,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were acquired at an average price of $8.43 per share, for a total transaction of $42,150.00. Following the completion of the transaction, the director now directly owns 119,925 shares of the company's stock, valued at approximately $1,010,967.75. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gilbert E. Nathan acquired 10,000 shares of the firm's stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $8.65 per share, for a total transaction of $86,500.00. Following the acquisition, the director now owns 83,099 shares of the company's stock, valued at approximately $718,806.35. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 17,150 shares of company stock valued at $148,280. Company insiders own 0.95% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of RC. Public Employees Retirement System of Ohio boosted its position in Ready Capital by 163.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,289 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 1,421 shares in the last quarter. Bear Mountain Capital Inc. bought a new position in shares of Ready Capital during the 4th quarter valued at $30,000. EdgeRock Capital LLC bought a new position in Ready Capital in the 4th quarter worth $36,000. MCF Advisors LLC purchased a new stake in Ready Capital in the 1st quarter worth $42,000. Finally, FMR LLC increased its stake in Ready Capital by 37.0% in the 1st quarter. FMR LLC now owns 4,710 shares of the real estate investment trust's stock worth $48,000 after buying an additional 1,272 shares in the last quarter. Hedge funds and other institutional investors own 55.87% of the company's stock.
About Ready Capital
(
Get Free Report)
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.
See Also
Before you consider Ready Capital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ready Capital wasn't on the list.
While Ready Capital currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
