Ready Capital Corp (NYSE:RC) announced a quarterly dividend on Tuesday, September 10th, NASDAQ reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.40 per share by the real estate investment trust on Thursday, October 31st. This represents a $1.60 dividend on an annualized basis and a yield of 10.53%. The ex-dividend date is Friday, September 27th.
Ready Capital has a dividend payout ratio of 90.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Ready Capital to earn $1.74 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 92.0%.
Ready Capital stock traded down $0.02 during trading hours on Thursday, reaching $15.19. 2,542 shares of the company’s stock were exchanged, compared to its average volume of 167,862. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.45. The firm’s 50 day simple moving average is $14.89 and its 200 day simple moving average is $14.94. The firm has a market capitalization of $669.78 million, a PE ratio of 8.62 and a beta of 0.70. Ready Capital has a twelve month low of $13.44 and a twelve month high of $17.15.
Ready Capital (NYSE:RC) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The company had revenue of $21.28 million during the quarter, compared to the consensus estimate of $17.58 million. Ready Capital had a return on equity of 8.40% and a net margin of 30.47%. Analysts anticipate that Ready Capital will post 1.56 EPS for the current year.
RC has been the subject of several research reports. Zacks Investment Research upgraded Ready Capital from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Cantor Fitzgerald reduced their target price on Ready Capital from $17.00 to $16.50 and set a “market outperform” rating for the company in a research note on Tuesday, September 3rd. Finally, TheStreet upgraded Ready Capital from a “c” rating to a “b-” rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $16.50.
About Ready Capital
Ready Capital Corporation operates as a real estate finance company in the United States. The company originates, acquires, finances, and services small balance commercial (SBC) loans, small business administration (SBA) loans, and residential mortgage loans, as well as mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.
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