Ready Capital Corp (NYSE:RC) to Issue Quarterly Dividend of $0.13

Key Points

• Ready Capital Corp announced a quarterly dividend of $0.13 per share, with the payment to be made on October 31st to stockholders of record as of September 30th.
• The company's dividend payout ratio stands at 89.3%, indicating that while the current dividend is covered by earnings, future sustainability may be at risk if earnings decline.
• Ready Capital posted a loss of ($0.14) earnings per share in its latest quarterly results, missing analyst estimates, and reported significant revenue shortfalls compared to expectations.

Ready Capital Corp (NYSE:RC - Get Free Report) declared a quarterly dividend on Monday, September 15th, RTT News reports. Stockholders of record on Tuesday, September 30th will be paid a dividend of 0.125 per share by the real estate investment trust on Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 11.8%.

Ready Capital has a dividend payout ratio of 89.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. 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 $0.50 annual dividend with an expected future payout ratio of 47.6%.

Ready Capital Stock Performance

Shares of NYSE:RC traded up $0.05 during midday trading on Monday, reaching $4.24. 1,330,729 shares of the company traded hands, compared to its average volume of 2,043,058. The firm's fifty day moving average price is $4.20 and its two-hundred day moving average price is $4.45. The firm has a market capitalization of $696.76 million, a price-to-earnings ratio of -2.29 and a beta of 1.38. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.76. Ready Capital has a 12 month low of $3.70 and a 12 month high of $8.41.

Ready Capital (NYSE:RC - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.13). The company had revenue of ($9.77) million for the quarter, compared to the consensus estimate of $167.26 million. Ready Capital had a negative net margin of 40.59% and a positive return on equity of 3.76%. On average, equities analysts expect that Ready Capital will post 0.93 earnings per share for the current year.

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.

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