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

Shares of Ready Capital Co. (NYSE:RC - Get Free Report) have received an average rating of "Hold" from the eight brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $6.96.

A number of brokerages recently issued reports on RC. Wedbush reissued a "neutral" rating and issued a $6.00 price objective (down from $8.00) on shares of Ready Capital in a research note on Tuesday, March 4th. UBS Group decreased their price objective on shares of Ready Capital from $4.75 to $4.50 and set a "neutral" rating on the stock in a research note on Wednesday, May 21st. Citizens Jmp cut shares of Ready Capital from an "outperform" rating to a "market perform" rating in a research note on Monday, March 3rd. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Ready Capital from $4.00 to $3.75 and set an "underperform" rating on the stock in a research note on Tuesday, May 13th.

Insiders Place Their Bets

In related news, insider Adam Zausmer bought 10,000 shares of the firm's stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $5.42 per share, with a total value of $54,200.00. Following the completion of the purchase, the insider now owns 301,105 shares in the company, valued at $1,631,989.10. This represents a 3.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.10% of the company's stock.

Institutional Trading of Ready Capital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sterling Capital Management LLC grew its stake in shares of Ready Capital by 822.8% in the fourth quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 4,616 shares during the last quarter. Larson Financial Group LLC bought a new stake in shares of Ready Capital in the first quarter worth $27,000. US Bancorp DE grew its stake in shares of Ready Capital by 404.7% in the first quarter. US Bancorp DE now owns 6,021 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 4,828 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Ready Capital by 3,075.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust's stock worth $43,000 after purchasing an additional 6,150 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Ready Capital in the first quarter worth $32,000. Institutional investors own 55.87% of the company's stock.

Ready Capital Price Performance

Shares of NYSE RC traded down $0.01 during midday trading on Tuesday, reaching $4.47. The company's stock had a trading volume of 2,826,710 shares, compared to its average volume of 2,134,291. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. Ready Capital has a fifty-two week low of $3.93 and a fifty-two week high of $9.54. The business's 50 day moving average price is $4.50 and its two-hundred day moving average price is $5.90. The company has a market cap of $762.17 million, a P/E ratio of -6.39 and a beta of 1.45.

Ready Capital (NYSE:RC - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.21). The business had revenue of $40.24 million during the quarter, compared to analyst estimates of $212.33 million. Ready Capital had a negative net margin of 11.65% and a positive return on equity of 7.53%. On average, analysts forecast that Ready Capital will post 0.93 EPS for the current fiscal year.

Ready Capital Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 11.19%. Ready Capital's payout ratio is presently -28.74%.

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.