Ready Capital Corp (NYSE:RC) Receives $7.04 Consensus Price Target from Brokerages

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 firm, Marketbeat 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 12 month price target among brokers that have updated their coverage on the stock in the last year is $7.04.

Several equities analysts recently weighed in on RC shares. UBS Group reduced their target price on shares of Ready Capital from $4.75 to $4.50 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. Keefe, Bruyette & Woods raised their price objective on shares of Ready Capital from $3.75 to $4.25 and gave the company an "underperform" rating in a research report on Thursday, July 10th.

Institutional Investors Weigh In On Ready Capital

Several institutional investors have recently modified their holdings of RC. Sterling Capital Management LLC boosted 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 buying an additional 4,616 shares during the last quarter. Larson Financial Group LLC purchased a new position in Ready Capital in the first quarter worth approximately $27,000. US Bancorp DE boosted its position in shares of Ready Capital by 404.7% during the first quarter. US Bancorp DE now owns 6,021 shares of the real estate investment trust's stock worth $31,000 after buying an additional 4,828 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of Ready Capital by 3,075.0% during 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 buying an additional 6,150 shares during the period. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Ready Capital in the first quarter valued at $32,000. 55.87% of the stock is owned by institutional investors.

Ready Capital Stock Down 1.6%

RC stock traded down $0.07 during midday trading on Wednesday, hitting $4.21. The company's stock had a trading volume of 1,576,193 shares, compared to its average volume of 2,176,985. The company has a market cap of $717.83 million, a PE ratio of -2.42 and a beta of 1.43. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.77. The firm's 50-day moving average is $4.40 and its 200-day moving average is $5.22. Ready Capital has a 12 month low of $3.93 and a 12 month high of $9.53.

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 negative net margin of 34.40% and a positive return on equity of 5.53%. The firm had revenue of $40.24 million during the quarter, compared to analyst estimates of $212.33 million. On average, equities research analysts forecast that Ready Capital will post 0.93 earnings per share for the current fiscal year.

Ready Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 11.88%. The ex-dividend date of this dividend is Monday, June 30th. Ready Capital's payout ratio is currently -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.