Ready Capital Co. (NYSE:RC) Given Average Recommendation of “Hold” by Analysts

Shares of Ready Capital Co. (NYSE:RC) have been given a consensus recommendation of “Hold” by the seven research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $9.65.

A number of research analysts have issued reports on the stock. BTIG Research initiated coverage on shares of Ready Capital in a report on Friday, July 19th. They issued a “neutral” rating for the company. Keefe, Bruyette & Woods reduced their target price on Ready Capital from $8.00 to $7.75 and set an “underperform” rating for the company in a research note on Monday, August 12th. LADENBURG THALM/SH SH downgraded Ready Capital from a “buy” rating to a “neutral” rating in a research note on Friday, May 10th. Finally, Wedbush restated a “neutral” rating and issued a $9.00 price objective on shares of Ready Capital in a research note on Monday, August 12th.

Ready Capital Stock Up 0.5 %

Ready Capital stock opened at $8.44 on Friday. The business has a fifty day moving average price of $8.72 and a 200-day moving average price of $8.70. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.69 and a quick ratio of 1.69. Ready Capital has a 1-year low of $7.93 and a 1-year high of $11.67. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 5.24 and a beta of 1.43.

Ready Capital (NYSE:RC) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.19). The company had revenue of $234.12 million for the quarter, compared to analyst estimates of $61.77 million. Ready Capital had a negative net margin of 5.67% and a positive return on equity of 7.32%. During the same quarter last year, the company earned $0.35 EPS. Equities research analysts forecast that Ready Capital will post 1.03 EPS for the current fiscal year.

Ready Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 14.22%. The ex-dividend date was Friday, June 28th. Ready Capital’s dividend payout ratio is currently 74.53%.

Institutional Trading of Ready Capital

Several hedge funds and other institutional investors have recently bought and sold shares of RC. CWM LLC raised its position in shares of Ready Capital by 94.6% in the second quarter. CWM LLC now owns 3,361 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 1,634 shares during the period. EdgeRock Capital LLC purchased a new position in Ready Capital during the fourth quarter worth approximately $36,000. EntryPoint Capital LLC purchased a new position in Ready Capital during the first quarter worth approximately $40,000. MCF Advisors LLC acquired a new stake in Ready Capital in the first quarter valued at approximately $42,000. Finally, Xponance Inc. purchased a new stake in shares of Ready Capital in the second quarter valued at approximately $84,000. 55.87% of the stock is owned by institutional investors and hedge funds.

About Ready Capital

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.