Analysts Set Ready Capital Co. (NYSE:RC) PT at $7.86

Shares of Ready Capital Co. (NYSE:RC) have been given a consensus rating of “Hold” by the nine analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $7.50.

Several equities research analysts recently issued reports on RC shares. Keefe, Bruyette & Woods dropped their target price on shares of Ready Capital from $6.25 to $4.00 and set an “underperform” rating on the stock in a report on Wednesday, March 5th. B. Riley restated a “neutral” rating and issued a $10.00 target price (down from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. JMP Securities dropped their price target on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research note on Thursday, December 12th. Wedbush reissued a “neutral” rating and issued a $6.00 price objective (down from $8.00) on shares of Ready Capital in a research report on Tuesday, March 4th. Finally, UBS Group lowered their price target on shares of Ready Capital from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Friday.

Insiders Place Their Bets

In related news, insider Adam Zausmer purchased 10,000 shares of the stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $5.42 per share, with a total value of $54,200.00. Following the purchase, the insider now directly owns 301,105 shares in the company, valued at $1,631,989.10. This trade represents a 3.44 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ready Capital

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Ready Capital by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 11,366,828 shares of the real estate investment trust’s stock valued at $77,522,000 after buying an additional 768,891 shares during the period. Hudson Bay Capital Management LP bought a new stake in Ready Capital in the fourth quarter valued at $4,393,000. Charles Schwab Investment Management Inc. raised its stake in shares of Ready Capital by 21.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,266,585 shares of the real estate investment trust’s stock valued at $15,458,000 after purchasing an additional 398,005 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Ready Capital by 3,049.5% during the fourth quarter. Marshall Wace LLP now owns 392,559 shares of the real estate investment trust’s stock valued at $2,677,000 after purchasing an additional 380,095 shares in the last quarter. Finally, GraniteShares Advisors LLC bought a new stake in shares of Ready Capital during the fourth quarter valued at about $2,480,000. 55.87% of the stock is owned by institutional investors and hedge funds.

Ready Capital Stock Performance

Ready Capital stock opened at $5.02 on Thursday. Ready Capital has a 1-year low of $4.74 and a 1-year high of $9.53. The firm has a market cap of $818.20 million, a P/E ratio of -7.16 and a beta of 1.43. The firm has a 50-day moving average of $6.42 and a 200-day moving average of $7.05. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54.

Ready Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 9.97%. The ex-dividend date is Monday, March 31st. Ready Capital’s dividend payout ratio (DPR) is -18.94%.

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.