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

Shares of Ready Capital Co. (NYSE:RC) have earned an average recommendation of “Hold” from the nine research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $7.50.

Several research firms have weighed in on RC. UBS Group decreased 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 note on Friday, March 14th. Keefe, Bruyette & Woods dropped their price target on Ready Capital from $6.25 to $4.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 5th. Citizens Jmp lowered Ready Capital from an “outperform” rating to a “market perform” rating in a report on Monday, March 3rd. B. Riley restated a “neutral” rating and set a $10.00 price objective (down previously from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. Finally, Wedbush reiterated a “neutral” rating and issued a $6.00 target price (down from $8.00) on shares of Ready Capital in a report on Tuesday, March 4th.

Insiders Place Their Bets

In other news, insider Adam Zausmer bought 10,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $5.42 per share, with a total value of $54,200.00. Following the transaction, the insider now directly owns 301,105 shares in the company, valued at $1,631,989.10. This represents a 3.44 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.09% of the company’s stock.

Hedge Funds Weigh In On Ready Capital

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of 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 worth $77,522,000 after purchasing an additional 768,891 shares during the period. Hudson Bay Capital Management LP bought a new stake in Ready Capital during the fourth quarter valued at approximately $4,393,000. Charles Schwab Investment Management Inc. grew its stake in Ready Capital by 21.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,266,585 shares of the real estate investment trust’s stock worth $15,458,000 after buying an additional 398,005 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Ready Capital by 3,049.5% in the 4th quarter. Marshall Wace LLP now owns 392,559 shares of the real estate investment trust’s stock worth $2,677,000 after buying an additional 380,095 shares during the last quarter. Finally, GraniteShares Advisors LLC purchased a new stake in shares of Ready Capital during the 4th quarter valued at $2,480,000. Institutional investors own 55.87% of the company’s stock.

Ready Capital Stock Down 1.2 %

Shares of NYSE:RC opened at $4.44 on Monday. Ready Capital has a 1 year low of $4.28 and a 1 year high of $9.54. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67. The business’s 50-day moving average is $5.59 and its 200-day moving average is $6.58. The company has a market capitalization of $762.06 million, a price-to-earnings ratio of -6.34 and a beta of 1.23.

Ready Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 11.27%. The ex-dividend date is Monday, March 31st. Ready Capital’s payout ratio is currently -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.