Ready Capital Co. (NYSE:RC) Receives Consensus Rating of “Hold” from Brokerages

Ready Capital Co. (NYSE:RC) has been given a consensus rating of “Hold” by the eight analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $9.04.

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Ready Capital from $8.00 to $7.75 and set an “underperform” rating on the stock in a report on Monday, August 12th. Piper Sandler cut their price target on shares of Ready Capital from $9.50 to $8.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. UBS Group cut their price target on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Friday, November 15th. Finally, Wedbush reissued a “neutral” rating and issued a $9.00 price target on shares of Ready Capital in a research note on Monday, August 12th.

Institutional Investors Weigh In On Ready Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RC. CWM LLC raised its position in shares of Ready Capital by 94.6% during the second quarter. CWM LLC now owns 3,361 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 1,634 shares during the last quarter. KBC Group NV raised its position in shares of Ready Capital by 64.1% during the third quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 3,248 shares during the last quarter. Xponance Inc. bought a new stake in shares of Ready Capital during the second quarter valued at approximately $84,000. Choreo LLC bought a new stake in shares of Ready Capital during the second quarter valued at approximately $91,000. Finally, Modera Wealth Management LLC bought a new stake in Ready Capital in the third quarter worth $107,000. Institutional investors own 55.87% of the company’s stock.

Ready Capital Stock Up 2.7 %

Shares of NYSE RC opened at $7.57 on Tuesday. The stock has a market capitalization of $1.28 billion, a P/E ratio of -10.81 and a beta of 1.43. The company has a 50-day moving average price of $7.22 and a 200-day moving average price of $8.04. Ready Capital has a 1 year low of $6.65 and a 1 year high of $11.67. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67.

Ready Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 13.21%. The ex-dividend date was Monday, September 30th. Ready Capital’s payout ratio is -142.86%.

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.