Ready Capital Co. (NYSE:RC) Receives Average Recommendation of "Hold" from Brokerages

Ready Capital Co. (NYSE:RC - Get Free Report) has earned an average rating of "Hold" from the nine research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $7.04.

Several equities research analysts have recently issued reports on RC shares. B. Riley reaffirmed a "neutral" rating and set a $10.00 target price (down from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods lowered their price objective on shares of Ready Capital from $6.25 to $4.00 and set an "underperform" rating on the stock in a research report on Wednesday, March 5th. Citizens Jmp cut shares of Ready Capital from an "outperform" rating to a "market perform" rating in a research note on Monday, March 3rd. UBS Group decreased their price target on shares of Ready Capital from $5.00 to $4.75 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Finally, Wedbush reiterated a "neutral" rating and issued a $6.00 price objective (down previously from $8.00) on shares of Ready Capital in a research note on Tuesday, March 4th.

Insider Buying and Selling at Ready Capital

In related news, CEO Thomas E. Capasse bought 10,000 shares of Ready Capital stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $4.80 per share, with a total value of $48,000.00. Following the acquisition, the chief executive officer now directly owns 319,925 shares of the company's stock, valued at $1,535,640. This represents a 3.23 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.09% of the company's stock.

Hedge Funds Weigh In On Ready Capital

A number of large investors have recently modified their holdings of the company. Barclays PLC boosted its holdings in Ready Capital by 205.9% in the 3rd quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust's stock valued at $3,699,000 after purchasing an additional 326,467 shares during the period. Principal Financial Group Inc. increased its stake in Ready Capital by 3.3% in the 3rd quarter. Principal Financial Group Inc. now owns 792,536 shares of the real estate investment trust's stock worth $6,047,000 after acquiring an additional 25,545 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Ready Capital by 50.5% in the third quarter. JPMorgan Chase & Co. now owns 336,773 shares of the real estate investment trust's stock valued at $2,570,000 after purchasing an additional 112,934 shares in the last quarter. Seed Wealth Management Inc. raised its position in shares of Ready Capital by 93.8% during the 4th quarter. Seed Wealth Management Inc. now owns 24,800 shares of the real estate investment trust's stock valued at $169,000 after buying an additional 12,000 shares in the last quarter. Finally, Mutual Advisors LLC raised its position in shares of Ready Capital by 4.7% during the 4th quarter. Mutual Advisors LLC now owns 109,993 shares of the real estate investment trust's stock valued at $742,000 after buying an additional 4,891 shares in the last quarter. 55.87% of the stock is currently owned by institutional investors.

Ready Capital Stock Performance

Shares of RC opened at $4.49 on Friday. The stock has a 50 day moving average of $4.95 and a 200 day moving average of $6.30. The company has a market capitalization of $770.65 million, a price-to-earnings ratio of -6.41 and a beta of 1.23. Ready Capital has a 12 month low of $4.16 and a 12 month high of $9.54. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54.

Ready Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 11.15%. The ex-dividend date was Monday, March 31st. Ready Capital's dividend payout ratio (DPR) is presently -18.94%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.