Ready Capital Corp (NYSE:RC) Given Consensus Rating of "Hold" by 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.

Ready Capital Corp (NYSE:RC - Get Free Report) has received an average rating of "Hold" from the seven ratings firms that are currently covering the firm, MarketBeat.com 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 1 year price target among analysts that have updated their coverage on the stock in the last year is $5.8750.

RC has been the topic of a number of analyst reports. Wall Street Zen cut shares of Ready Capital from a "hold" rating to a "sell" rating in a report 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 for the company in a research report on Tuesday, August 12th. UBS Group dropped their target price on shares of Ready Capital from $4.50 to $4.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 20th. Finally, B. Riley cut their price target 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.

Ready Capital Trading Down 0.8%

NYSE RC opened at $4.24 on Thursday. The company's fifty day moving average price is $4.25 and its two-hundred day moving average price is $4.63. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.61 and a quick ratio of 1.61. Ready Capital has a 12 month low of $3.70 and a 12 month high of $8.41. The company has a market capitalization of $695.94 million, a price-to-earnings ratio of -2.29 and a beta of 1.38.

Ready Capital (NYSE:RC - Get Free Report) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $167.26 million. As a group, research analysts predict that Ready Capital will post 0.93 earnings per share for the current fiscal year.

Ready Capital Dividend Announcement

The business 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. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.50 dividend on an annualized basis and a yield of 11.8%. Ready Capital's payout ratio is presently -27.03%.

Institutional Trading of Ready Capital

A number of institutional investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. acquired a new stake in Ready Capital in the second quarter valued at approximately $136,000. Public Sector Pension Investment Board increased its position in Ready Capital by 8.8% during the second quarter. Public Sector Pension Investment Board now owns 581,322 shares of the real estate investment trust's stock worth $2,540,000 after acquiring an additional 46,848 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in Ready Capital by 8.2% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 145,398 shares of the real estate investment trust's stock valued at $636,000 after buying an additional 11,061 shares during the period. Tower Research Capital LLC TRC increased its holdings in Ready Capital by 239.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 14,394 shares of the real estate investment trust's stock valued at $63,000 after buying an additional 10,157 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in Ready Capital by 65.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 17,226 shares of the real estate investment trust's stock valued at $75,000 after buying an additional 6,807 shares during the period. 55.87% of the stock is currently owned by institutional investors and hedge funds.

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.

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