Ready Capital Corp (NYSE:RC) Receives $5.88 Consensus Price Target from Brokerages

Key Points

• Ready Capital Corp has received an average consensus rating of "Hold" from seven brokerages, with one "sell," five "hold," and one "buy" rating.
• Recent analyst reports have led to price target reductions, with Keefe, Bruyette & Woods reducing their target from $4.25 to $3.75, while UBS Group lowered theirs from $4.50 to $4.00.
• Ready Capital recently missed earnings estimates with a reported EPS of ($0.14), falling short of the consensus estimate and generated revenue of ($9.77) million against expectations of $167.26 million.

Shares of Ready Capital Corp (NYSE:RC - Get Free Report) have received a consensus rating of "Hold" from the seven analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $5.8750.

Several analysts have recently weighed in on the stock. UBS Group lowered their target price on shares of Ready Capital from $4.50 to $4.00 and set a "neutral" rating on the stock in a report on Wednesday, August 20th. Wall Street Zen downgraded shares of Ready Capital from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Keefe, Bruyette & Woods reduced their price objective on shares of Ready Capital from $4.25 to $3.75 and set an "underperform" rating on the stock in a research note on Tuesday, August 12th. Finally, B. Riley dropped their price objective on shares of Ready Capital from $6.00 to $4.00 and set a "neutral" rating on the stock in a report on Monday, August 11th.

Hedge Funds Weigh In On Ready Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Ready Capital by 6.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,288 shares of the real estate investment trust's stock worth $231,000 after purchasing an additional 2,606 shares during the last quarter. CW Advisors LLC increased its stake in Ready Capital by 11.6% during the 2nd quarter. CW Advisors LLC now owns 27,590 shares of the real estate investment trust's stock worth $121,000 after purchasing an additional 2,878 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Ready Capital by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 84,372 shares of the real estate investment trust's stock worth $369,000 after acquiring an additional 2,905 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Ready Capital by 29.0% in the 2nd quarter. Cerity Partners LLC now owns 15,220 shares of the real estate investment trust's stock valued at $67,000 after buying an additional 3,419 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Ready Capital by 163.6% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 3,600 shares during the last quarter. Institutional investors own 55.87% of the company's stock.

Ready Capital Trading Up 0.1%

Shares of NYSE:RC traded up $0.01 during mid-day trading on Thursday, reaching $4.30. 254,800 shares of the company were exchanged, compared to its average volume of 2,393,756. The firm has a market cap of $705.80 million, a price-to-earnings ratio of -2.32 and a beta of 1.38. Ready Capital has a 1 year low of $3.70 and a 1 year high of $8.41. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.61 and a quick ratio of 1.61. The firm's 50-day simple moving average is $4.24 and its 200 day simple moving average is $4.56.

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

Ready Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 11.6%. The ex-dividend date of this dividend was Monday, June 30th. Ready Capital's dividend payout ratio (DPR) is presently -27.03%.

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.