Shares of Ready Capital Corp (NYSE:RC - Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.35 and traded as low as $3.56. Ready Capital shares last traded at $3.57, with a volume of 3,489,876 shares trading hands.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on RC shares. UBS Group decreased their price objective on shares of Ready Capital from $4.50 to $4.00 and set a "neutral" rating for the company in a research report on Wednesday, August 20th. Keefe, Bruyette & Woods reduced their price target on Ready Capital from $4.25 to $3.75 and set an "underperform" rating for the company in a report on Tuesday, August 12th. Wall Street Zen downgraded Ready Capital from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Weiss Ratings reiterated a "sell (d)" rating on shares of Ready Capital in a research note on Saturday, September 27th. Finally, B. Riley decreased their price target on Ready Capital from $6.00 to $4.00 and set a "neutral" rating for the company in a research note on Monday, August 11th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Ready Capital presently has an average rating of "Reduce" and an average price target of $5.45.
Check Out Our Latest Report on Ready Capital
Ready Capital Trading Down 5.3%
The stock has a market capitalization of $586.66 million, a P/E ratio of -1.93 and a beta of 1.45. The business has a 50 day simple moving average of $4.10 and a 200-day simple moving average of $4.35. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.61 and a current ratio of 1.61.
Ready Capital (NYSE:RC - Get Free Report) last issued its earnings results on Thursday, August 7th. The real estate investment trust reported ($0.14) earnings per share 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 for the quarter, compared to the consensus estimate of $167.26 million. On average, analysts predict that Ready Capital Corp will post 0.93 EPS for the current year.
Ready Capital Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 14.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Ready Capital's dividend payout ratio is presently -27.03%.
Hedge Funds Weigh In On Ready Capital
A number of institutional investors have recently modified their holdings of RC. Larson Financial Group LLC bought a new stake in Ready Capital during the first quarter valued at about $27,000. Nomura Asset Management Co. Ltd. lifted its position in shares of Ready Capital by 163.6% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 3,600 shares during the last quarter. US Bancorp DE boosted its stake in Ready Capital by 404.7% during the 1st quarter. US Bancorp DE now owns 6,021 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 4,828 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in Ready Capital in the 1st quarter valued at approximately $32,000. Finally, Bogart Wealth LLC bought a new position in Ready Capital in the 2nd quarter worth approximately $31,000. Institutional investors own 55.87% of the company's stock.
Ready Capital Company Profile
(
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.
See Also
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