Ready Capital Co. (NYSE:RC) Plans Quarterly Dividend of $0.13

Ready Capital Co. (NYSE:RC - Get Free Report) announced a quarterly dividend on Friday, June 13th, RTT News reports. Stockholders of record on Monday, June 30th will be paid a dividend of 0.125 per share by the real estate investment trust on Thursday, July 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 11.45%. The ex-dividend date is Monday, June 30th.

Ready Capital has a dividend payout ratio of 89.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Analysts expect Ready Capital to earn $1.05 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 47.6%.

Ready Capital Stock Down 0.8%

Shares of Ready Capital stock traded down $0.04 during trading on Monday, reaching $4.37. The stock had a trading volume of 1,164,919 shares, compared to its average volume of 2,146,712. The company has a market capitalization of $744.26 million, a price-to-earnings ratio of -6.24 and a beta of 1.47. The stock has a fifty day moving average price of $4.39 and a two-hundred day moving average price of $5.67. Ready Capital has a 52 week low of $3.93 and a 52 week 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 (NYSE:RC - Get Free Report) last released its earnings results on Thursday, May 8th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.21). Ready Capital had a positive return on equity of 7.53% and a negative net margin of 11.65%. The company had revenue of $40.24 million for the quarter, compared to the consensus estimate of $212.33 million. Sell-side analysts predict that Ready Capital will post 0.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RC shares. Wedbush reiterated a "neutral" rating and set a $6.00 target price (down previously from $8.00) on shares of Ready Capital in a report on Tuesday, March 4th. Keefe, Bruyette & Woods dropped their target price on Ready Capital from $4.00 to $3.75 and set an "underperform" rating on the stock in a report on Tuesday, May 13th. Citizens Jmp lowered Ready Capital from an "outperform" rating to a "market perform" rating in a report on Monday, March 3rd. Finally, UBS Group dropped their target price on Ready Capital from $4.75 to $4.50 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $6.96.

Hedge Funds Weigh In On Ready Capital

A number of institutional investors have recently bought and sold shares of RC. Focus Partners Wealth increased its position in Ready Capital by 13.1% during the first quarter. Focus Partners Wealth now owns 263,820 shares of the real estate investment trust's stock worth $1,343,000 after buying an additional 30,477 shares during the last quarter. Strs Ohio acquired a new position in shares of Ready Capital in the first quarter valued at approximately $154,000. Intech Investment Management LLC grew its position in shares of Ready Capital by 13.1% in the first quarter. Intech Investment Management LLC now owns 230,177 shares of the real estate investment trust's stock valued at $1,172,000 after purchasing an additional 26,607 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ready Capital in the first quarter valued at approximately $89,000. Finally, United Services Automobile Association acquired a new position in shares of Ready Capital in the first quarter valued at approximately $59,000. Institutional investors and hedge funds own 55.87% of the company's stock.

Ready Capital Company Profile

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.