Ready Capital Corp (NYSE:RC) to Issue Quarterly Dividend of $0.01

Key Points

• Ready Capital announced a quarterly dividend of $0.01 per share (record date March 31, payable April 30), equivalent to a $0.04 annual payout and about a 2.6% yield, with a low dividend payout ratio (~7.1%) indicating the dividend is covered by earnings.
• Shares opened at $1.52 and were down ~5.3%, trading near the 52‑week low ($1.50) with a market cap of roughly $247M; the REIT reported Q4 EPS of -$0.09 (beat estimates) and faces negative net margin/ROE while analysts expect roughly $0.93–$1.05 in EPS over the next year.

Ready Capital Corp (NYSE:RC - Get Free Report) announced a quarterly dividend on Friday, March 13th. Stockholders of record on Tuesday, March 31st will be paid a dividend of 0.01 per share by the real estate investment trust on Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, March 31st.

Ready Capital has decreased its dividend by an average of 0.2%annually over the last three years. Ready Capital has a dividend payout ratio of 7.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ready Capital to earn $1.05 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 3.8%.

Ready Capital Trading Down 5.3%

RC stock opened at $1.52 on Friday. Ready Capital has a 52 week low of $1.50 and a 52 week high of $5.24. The company has a market capitalization of $246.76 million, a PE ratio of -1.03 and a beta of 1.45. The company's 50-day simple moving average is $1.89 and its 200 day simple moving average is $2.57. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.48 and a current ratio of 1.48.

Ready Capital (NYSE:RC - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The real estate investment trust reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. Ready Capital had a negative net margin of 39.55% and a negative return on equity of 10.29%. The business had revenue of $207.55 million during the quarter, compared to analysts' expectations of $133.50 million. As a group, sell-side analysts anticipate that Ready Capital will post 0.93 earnings per share for the current year.

Ready Capital Company Profile

Ready Capital Corporation is a specialty finance real estate investment trust (REIT) that originates, acquires and manages commercial real estate loans and related assets. The company offers financing solutions across a variety of property types, including multifamily, office, retail, industrial, hospitality and mixed-use assets. Ready Capital focuses on delivering flexible loan structures to meet the diverse needs of borrowers in the small balance and middle-market sectors.

Through its small balance commercial real estate lending platform, Ready Capital provides loans typically ranging from $1 million to $15 million for acquisitions, refinancings, renovations and bridge financing.

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