Ready Capital Corp (NYSE:RC - Get Free Report)'s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.72 and traded as low as $1.67. Ready Capital shares last traded at $1.6850, with a volume of 673,911 shares traded.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on RC. UBS Group lowered their price objective on shares of Ready Capital from $2.50 to $2.00 and set a "neutral" rating for the company in a research note on Thursday, July 16th. Weiss Ratings restated a "sell (e+)" rating on shares of Ready Capital in a report on Friday, August 28th. Finally, Zacks Research raised shares of Ready Capital from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Ready Capital presently has an average rating of "Reduce" and a consensus target price of $2.17.
Get Our Latest Stock Analysis on RC
Ready Capital Price Performance
The stock has a market capitalization of $278.35 million, a price-to-earnings ratio of -0.49 and a beta of 1.48. The business's fifty day moving average price is $1.68 and its 200-day moving average price is $1.72. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.91 and a quick ratio of 1.91.
Ready Capital (NYSE:RC - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported ($0.47) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.48) by $0.01. The business had revenue of $151.87 million during the quarter, compared to the consensus estimate of $16.41 million. Ready Capital had a negative return on equity of 16.78% and a negative net margin of 131.76%. On average, research analysts forecast that Ready Capital Corp will post -0.99 EPS for the current year.
Ready Capital Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.01 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.04 annualized dividend and a yield of 2.4%. Ready Capital's dividend payout ratio (DPR) is -1.15%.
Institutional Trading of Ready Capital
Institutional investors and hedge funds have recently made changes to their positions in the company. Focus Partners Advisor Solutions LLC purchased a new position in shares of Ready Capital in the 2nd quarter worth approximately $26,000. Sequoia Financial Advisors LLC bought a new stake in Ready Capital during the fourth quarter worth $27,000. Eurizon Capital SGR S.p.A. purchased a new position in Ready Capital in the fourth quarter worth $28,000. Public Employees Retirement System of Ohio purchased a new position in Ready Capital in the second quarter worth $28,000. Finally, HBK Sorce Advisory LLC bought a new position in Ready Capital in the 2nd quarter valued at $30,000. Hedge funds and other institutional investors own 55.87% of the company's stock.
About Ready Capital
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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 Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Get This Free Report
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Like this article? Share it with a colleague.
Link copied to clipboard.
