Ready Capital Corp (NYSE:RC - Get Free Report) shares hit a new 52-week low during trading on Monday . The company traded as low as $3.42 and last traded at $3.43, with a volume of 132050 shares changing hands. The stock had previously closed at $3.44.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on RC. B. Riley reduced their price target on Ready Capital from $6.00 to $4.00 and set a "neutral" rating for the company in a research report on Monday, August 11th. Keefe, Bruyette & Woods dropped their price target on Ready Capital from $3.75 to $3.50 and set an "underperform" rating for the company in a research note on Thursday. Weiss Ratings restated a "sell (d)" rating on shares of Ready Capital in a report on Wednesday, October 8th. Wall Street Zen downgraded Ready Capital from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, UBS Group dropped their price target on Ready Capital from $4.50 to $4.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Ready Capital currently has an average rating of "Reduce" and a consensus target price of $5.40.
View Our Latest Research Report on RC
Ready Capital Price Performance
The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $557.89 million, a PE ratio of -1.84 and a beta of 1.45. The firm has a 50 day moving average price of $4.04 and a 200 day moving average price of $4.31.
Ready Capital (NYSE:RC - Get Free Report) last posted its quarterly earnings data on Tuesday, September 9th. The real estate investment trust reported ($0.10) EPS for the quarter. The company had revenue of ($9.77) million during the quarter. Ready Capital had a positive return on equity of 3.76% and a negative net margin of 40.59%. Research analysts anticipate that Ready Capital Corp will post 0.93 earnings per share for the current year.
Ready Capital Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.125 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 14.7%. Ready Capital's dividend payout ratio (DPR) is presently -27.03%.
Institutional Investors Weigh In On Ready Capital
A number of large investors have recently made changes to their positions in RC. Private Management Group Inc. acquired a new position in shares of Ready Capital in the first quarter worth about $8,235,000. Marshall Wace LLP purchased a new stake in shares of Ready Capital during the second quarter worth about $6,542,000. Nexpoint Asset Management L.P. purchased a new stake in shares of Ready Capital during the first quarter worth about $4,444,000. Invesco Ltd. increased its stake in shares of Ready Capital by 16.1% during the first quarter. Invesco Ltd. now owns 3,618,181 shares of the real estate investment trust's stock worth $18,417,000 after purchasing an additional 502,162 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in shares of Ready Capital by 773.7% during the first quarter. Voya Investment Management LLC now owns 443,692 shares of the real estate investment trust's stock worth $2,258,000 after purchasing an additional 392,911 shares in the last quarter. 55.87% of the stock is owned by hedge funds and other institutional investors.
About Ready Capital
(
Get Free Report)
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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