Ready Capital Corp (NYSE:RC) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Ready Capital Corp has received an average rating of "Hold" from analysts, with one sell recommendation, five holds, and one buy.
• The company's stock reported a loss of $0.14 EPS in its last quarterly earnings, significantly missing analysts' estimates of a $0.01 loss.
• Ready Capital also declared a dividend of $0.125 per share, which equates to an annualized dividend yield of 12.3% despite a negative dividend payout ratio.

Ready Capital Corp (NYSE:RC - Get Free Report) has been assigned a consensus rating of "Hold" from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $5.9583.

Several research analysts have commented on RC shares. UBS Group lowered their price target on shares of Ready Capital from $4.75 to $4.50 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Keefe, Bruyette & Woods lowered their price target on shares of Ready Capital from $4.25 to $3.75 and set an "underperform" rating for the company in a report on Tuesday. Finally, B. Riley lowered their price target on shares of Ready Capital from $6.00 to $4.00 and set a "neutral" rating for the company in a report on Monday.

Institutional Trading of Ready Capital

Several institutional investors and hedge funds have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. raised its position in Ready Capital by 163.6% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the real estate investment trust's stock worth $25,000 after buying an additional 3,600 shares during the last quarter. Larson Financial Group LLC acquired a new position in shares of Ready Capital during the 1st quarter worth $27,000. US Bancorp DE grew its stake in shares of Ready Capital by 404.7% during the 1st 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 period. Bogart Wealth LLC acquired a new position in shares of Ready Capital during the 2nd quarter worth $31,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Ready Capital during the 1st quarter worth $32,000. Hedge funds and other institutional investors own 55.87% of the company's stock.

Ready Capital Stock Down 2.4%

Shares of RC stock traded down $0.10 during trading on Friday, reaching $3.83. The company's stock had a trading volume of 1,063,762 shares, compared to its average volume of 2,442,431. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.61 and a quick ratio of 1.78. The company has a market capitalization of $628.56 million, a price-to-earnings ratio of -2.07 and a beta of 1.47. The stock's 50-day moving average price is $4.37 and its 200 day moving average price is $4.90. Ready Capital has a 1-year low of $3.77 and a 1-year high of $8.64.

Ready Capital (NYSE:RC - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.13). Ready Capital had a negative net margin of 40.59% and a positive return on equity of 3.76%. The business had revenue of ($9.77) million during the quarter, compared to analyst estimates of $167.26 million. On average, research analysts anticipate that Ready Capital will post 0.93 EPS for the current year.

Ready Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a $0.125 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.50 annualized dividend and a yield of 13.1%. Ready Capital's dividend payout ratio is -27.03%.

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.