Ready Capital Corp (NYSE:RC) Receives $2.17 Average PT from Analysts

Ready Capital Corp (NYSE:RC) has been assigned a consensus rating of “Reduce” from the five ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $2.1667.

A number of analysts have recently commented on the company. UBS Group lowered their target price on Ready Capital from $2.50 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, July 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Ready Capital in a report on Friday, August 28th. Finally, Zacks Research upgraded Ready Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th.

Ready Capital Trading Down 0.9%

NYSE RC opened at $1.58 on Monday. Ready Capital has a 1 year low of $1.39 and a 1 year high of $4.42. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.91 and a quick ratio of 1.91. The company has a market capitalization of $261.83 million, a PE ratio of -0.46 and a beta of 1.48. The company has a fifty day moving average of $1.67 and a 200 day moving average of $1.72.

Ready Capital (NYSE:RC) last announced its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.01. The company had revenue of $151.87 million for the quarter, compared to the consensus estimate of $16.41 million. Ready Capital had a negative return on equity of 16.78% and a negative net margin of 131.76%. Research analysts forecast that Ready Capital will post -0.99 earnings per share for the current year.

Ready Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, September 30th. Ready Capital’s payout ratio is currently -1.15%.

Institutional Trading of Ready Capital

A number of hedge funds have recently added to or reduced their stakes in RC. HB Wealth Management LLC raised its position in shares of Ready Capital by 44.2% in the second quarter. HB Wealth Management LLC now owns 18,951 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 5,812 shares during the period. OceanIQ Capital LLC acquired a new stake in shares of Ready Capital during the 2nd quarter valued at about $109,000. Private Management Group Inc. grew its position in shares of Ready Capital by 9.5% during the 2nd quarter. Private Management Group Inc. now owns 7,932,521 shares of the real estate investment trust’s stock valued at $13,882,000 after acquiring an additional 689,928 shares during the period. Beacon Pointe Advisors LLC acquired a new stake in shares of Ready Capital during the 2nd quarter valued at about $41,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Ready Capital in the 2nd quarter valued at about $28,000. 55.87% of the stock is owned by hedge funds and other institutional investors.

Ready Capital Company Profile

Ready Capital Corporation is a real estate finance company organized as a real estate investment trust (REIT). The company originates, acquires, finances and services loans secured by commercial real estate, with a focus on small- to medium-sized properties and borrowers that may require flexible financing solutions.

Ready Capital provides financing for multifamily, commercial and residential investment properties, including bridge, construction and other structured commercial real estate loans.