Ready Capital (NYSE:RC) Receives “Neutral” Rating from B. Riley

B. Riley reiterated their neutral rating on shares of Ready Capital (NYSE:RC) in a report published on Tuesday, Marketbeat.com reports. The firm currently has a $10.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $12.00.

Several other equities analysts have also issued reports on RC. UBS Group decreased their price target on Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Friday, November 15th. JMP Securities decreased their target price on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a research report on Thursday, December 12th. Finally, Piper Sandler dropped their target price on shares of Ready Capital from $9.50 to $8.00 and set a “neutral” rating for the company in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.82.

Ready Capital Stock Performance

NYSE:RC opened at $6.86 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. Ready Capital has a fifty-two week low of $6.65 and a fifty-two week high of $10.36. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -9.80 and a beta of 1.43. The stock has a fifty day moving average price of $7.18 and a 200-day moving average price of $7.82.

Ready Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 14.58%. Ready Capital’s dividend payout ratio is -142.86%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in shares of Ready Capital by 50.5% in the third quarter. JPMorgan Chase & Co. now owns 336,773 shares of the real estate investment trust’s stock valued at $2,570,000 after buying an additional 112,934 shares during the period. Principal Financial Group Inc. boosted its holdings in Ready Capital by 3.3% in the third quarter. Principal Financial Group Inc. now owns 792,536 shares of the real estate investment trust’s stock valued at $6,047,000 after acquiring an additional 25,545 shares during the last quarter. Geode Capital Management LLC increased its position in Ready Capital by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust’s stock valued at $29,292,000 after purchasing an additional 150,479 shares during the period. Barclays PLC raised its holdings in Ready Capital by 205.9% during the 3rd quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust’s stock worth $3,699,000 after purchasing an additional 326,467 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Ready Capital by 4.8% in the 3rd quarter. State Street Corp now owns 6,315,147 shares of the real estate investment trust’s stock worth $49,746,000 after purchasing an additional 287,068 shares during the period. 55.87% of the stock is owned by institutional investors.

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.