Ready Capital Corp (NYSE:RC) Receives Consensus Rating of “Reduce” from Brokerages

Ready Capital Corp (NYSE:RC) has earned an average recommendation of “Reduce” from the six brokerages that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $2.6250.

RC has been the subject of several research analyst reports. UBS Group decreased their price objective on shares of Ready Capital from $2.50 to $2.00 and set a “neutral” rating for the company in a research report on Thursday, July 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Ready Capital in a research report on Tuesday, June 2nd. Finally, Zacks Research lowered shares of Ready Capital from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th.

Institutional Investors Weigh In On Ready Capital

A number of institutional investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd acquired a new position in Ready Capital in the 1st quarter worth about $89,000. United Services Automobile Association acquired a new stake in Ready Capital in the first quarter valued at approximately $59,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Ready Capital by 2.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 442,432 shares of the real estate investment trust’s stock valued at $2,252,000 after purchasing an additional 9,892 shares during the period. Focus Partners Wealth increased its position in shares of Ready Capital by 13.1% in the first quarter. Focus Partners Wealth now owns 263,820 shares of the real estate investment trust’s stock valued at $1,343,000 after buying an additional 30,477 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in shares of Ready Capital by 13.1% in the first quarter. Intech Investment Management LLC now owns 230,177 shares of the real estate investment trust’s stock valued at $1,172,000 after buying an additional 26,607 shares in the last quarter. 55.87% of the stock is currently owned by institutional investors and hedge funds.

Ready Capital Trading Up 1.0%

Ready Capital stock opened at $1.46 on Friday. The stock has a 50-day moving average of $1.67 and a two-hundred day moving average of $1.79. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.60 and a current ratio of 1.60. Ready Capital has a one year low of $1.42 and a one year high of $4.46. The stock has a market cap of $240.40 million, a PE ratio of -0.46 and a beta of 1.43.

Ready Capital (NYSE:RC) last issued its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.18). Ready Capital had a negative return on equity of 14.69% and a negative net margin of 102.10%.The business had revenue of $130.55 million during the quarter, compared to analyst estimates of $68.67 million. On average, research analysts anticipate that Ready Capital will post -0.94 EPS for the current fiscal year.

Ready Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Ready Capital’s dividend payout ratio is presently -1.26%.

Ready Capital Company Profile

Ready Capital Corporation is a specialty finance real estate investment trust (REIT) that originates, acquires and manages commercial real estate loans and related assets. The company offers financing solutions across a variety of property types, including multifamily, office, retail, industrial, hospitality and mixed-use assets. Ready Capital focuses on delivering flexible loan structures to meet the diverse needs of borrowers in the small balance and middle-market sectors.

Through its small balance commercial real estate lending platform, Ready Capital provides loans typically ranging from $1 million to $15 million for acquisitions, refinancings, renovations and bridge financing.