Ready Capital Co. (NYSE:RC – Get Free Report) declared a quarterly dividend on Friday, September 13th, NASDAQ reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.25 per share by the real estate investment trust on Thursday, October 31st. This represents a $1.00 dividend on an annualized basis and a yield of 12.77%. The ex-dividend date is Monday, September 30th.
Ready Capital has increased its dividend payment by an average of 61.0% annually over the last three years. Ready Capital has a dividend payout ratio of 84.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Ready Capital to earn $1.17 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 85.5%.
Ready Capital Price Performance
Shares of RC remained flat at $7.83 during trading hours on Friday. The stock had a trading volume of 1,742,270 shares, compared to its average volume of 1,555,724. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.52. Ready Capital has a 1 year low of $7.52 and a 1 year high of $11.67. The company’s 50-day moving average is $8.41 and its 200 day moving average is $8.55. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 4.86 and a beta of 1.42.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on RC shares. BTIG Research started coverage on Ready Capital in a research note on Friday, July 19th. They issued a “neutral” rating on the stock. Wedbush reaffirmed a “neutral” rating and issued a $9.00 target price on shares of Ready Capital in a research report on Monday, August 12th. Keefe, Bruyette & Woods lowered their price target on shares of Ready Capital from $8.00 to $7.75 and set an “underperform” rating for the company in a research report on Monday, August 12th. Finally, Piper Sandler cut their price objective on shares of Ready Capital from $9.50 to $8.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $9.38.
View Our Latest Analysis on Ready Capital
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.
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