Ready Capital (NYSE:RC) Announces Earnings Results

Ready Capital (NYSE:RC - Get Free Report) posted its quarterly earnings results on Wednesday. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01, Zacks reports. Ready Capital had a net margin of 35.69% and a return on equity of 7.99%. The business had revenue of $232.35 million during the quarter, compared to the consensus estimate of $64.34 million. During the same quarter last year, the firm posted $0.31 EPS.

Ready Capital Stock Performance

RC traded up $0.21 during trading on Thursday, hitting $8.66. 3,419,466 shares of the company traded hands, compared to its average volume of 1,446,397. The firm has a market cap of $1.46 billion, a P/E ratio of 3.61 and a beta of 1.41. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.44. Ready Capital has a one year low of $8.25 and a one year high of $11.97. The stock's fifty day moving average is $8.75 and its 200 day moving average is $9.49.

Ready Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 13.86%. The ex-dividend date was Wednesday, March 27th. Ready Capital's dividend payout ratio (DPR) is currently 51.28%.

Insider Buying and Selling at Ready Capital

In other news, Director Gilbert E. Nathan bought 10,000 shares of the firm's stock in a transaction on Thursday, March 14th. The stock was acquired at an average cost of $8.65 per share, with a total value of $86,500.00. Following the completion of the transaction, the director now directly owns 83,099 shares of the company's stock, valued at approximately $718,806.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Kevin M. Luebbers purchased 5,000 shares of the business's stock in a transaction dated Tuesday, March 5th. The stock was purchased at an average cost of $8.43 per share, with a total value of $42,150.00. Following the completion of the acquisition, the director now directly owns 119,925 shares of the company's stock, valued at $1,010,967.75. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gilbert E. Nathan acquired 10,000 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $8.65 per share, for a total transaction of $86,500.00. Following the acquisition, the director now directly owns 83,099 shares in the company, valued at approximately $718,806.35. The disclosure for this purchase can be found here. Insiders have purchased a total of 17,150 shares of company stock worth $148,280 over the last three months. 0.95% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RC shares. B. Riley restated a "buy" rating and issued a $12.00 target price (down previously from $13.00) on shares of Ready Capital in a report on Monday, March 4th. StockNews.com cut Ready Capital from a "buy" rating to a "hold" rating in a research report on Monday, March 4th. UBS Group lowered their price target on Ready Capital from $10.50 to $9.50 and set a "neutral" rating for the company in a research report on Wednesday, March 20th. BTIG Research cut their price objective on shares of Ready Capital from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $8.00 target price (down previously from $10.00) on shares of Ready Capital in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Ready Capital currently has an average rating of "Hold" and an average target price of $10.93.

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.