Ready Capital Corp (NYSE:RC - Get Free Report) has been given a consensus rating of "Hold" by the eight brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $6.96.
A number of research firms have commented on RC. Keefe, Bruyette & Woods dropped their price objective on shares of Ready Capital from $4.00 to $3.75 and set an "underperform" rating on the stock in a research note on Tuesday, May 13th. UBS Group reduced their price objective on Ready Capital from $4.75 to $4.50 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. Citizens Jmp cut Ready Capital from an "outperform" rating to a "market perform" rating in a research report on Monday, March 3rd. Finally, Wedbush reiterated a "neutral" rating and issued a $6.00 target price (down from $8.00) on shares of Ready Capital in a research note on Tuesday, March 4th.
Get Our Latest Analysis on Ready Capital
Institutional Trading of Ready Capital
Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Ready Capital by 0.7% in the first quarter. Vanguard Group Inc. now owns 11,450,959 shares of the real estate investment trust's stock valued at $58,285,000 after purchasing an additional 84,131 shares during the period. Invesco Ltd. increased its holdings in Ready Capital by 16.1% in the first quarter. Invesco Ltd. now owns 3,618,181 shares of the real estate investment trust's stock valued at $18,417,000 after buying an additional 502,162 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Ready Capital by 0.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,276,719 shares of the real estate investment trust's stock valued at $11,588,000 after acquiring an additional 10,134 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Ready Capital by 5.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,018,413 shares of the real estate investment trust's stock worth $13,766,000 after acquiring an additional 98,895 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Ready Capital by 6.3% in the 4th quarter. Northern Trust Corp now owns 1,833,044 shares of the real estate investment trust's stock worth $12,501,000 after acquiring an additional 108,519 shares during the period. 55.87% of the stock is currently owned by hedge funds and other institutional investors.
Ready Capital Trading Down 1.9%
RC opened at $4.45 on Friday. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.77. Ready Capital has a 52 week low of $3.93 and a 52 week high of $9.54. The business's 50 day moving average is $4.37 and its two-hundred day moving average is $5.61. The firm has a market cap of $757.92 million, a price-to-earnings ratio of -2.55 and a beta of 1.47.
Ready Capital (NYSE:RC - Get Free Report) last announced its earnings results on Thursday, May 8th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.21). Ready Capital had a positive return on equity of 5.53% and a negative net margin of 34.40%. The business had revenue of $40.24 million for the quarter, compared to analysts' expectations of $212.33 million. On average, research analysts predict that Ready Capital will post 0.93 EPS for the current year.
Ready Capital Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 11.25%. The ex-dividend date of this dividend is Monday, June 30th. Ready Capital's dividend payout ratio is presently -28.74%.
About Ready Capital
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Get Free ReportReady 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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