Ready Capital Co. (NYSE:RC) Receives Average Recommendation of “Hold” from Analysts

Shares of Ready Capital Co. (NYSE:RC) have received a consensus rating of “Hold” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $8.61.

A number of equities research analysts recently weighed in on RC shares. Keefe, Bruyette & Woods decreased their price objective on Ready Capital from $6.75 to $6.25 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. JMP Securities reduced their price objective on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research note on Thursday, December 12th. B. Riley reissued a “neutral” rating and set a $10.00 target price (down from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. Finally, UBS Group lowered their price objective on Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Friday, November 15th.

Ready Capital Price Performance

Ready Capital stock opened at $7.05 on Wednesday. The firm has a 50-day moving average of $7.14 and a two-hundred day moving average of $7.72. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -10.06 and a beta of 1.43. Ready Capital has a 1 year low of $6.45 and a 1 year high of $10.00. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.19%. Ready Capital’s payout ratio is -142.86%.

Institutional Trading of Ready Capital

A number of institutional investors have recently bought and sold shares of the business. State Street Corp boosted its holdings in shares of Ready Capital by 4.8% in the third quarter. State Street Corp now owns 6,315,147 shares of the real estate investment trust’s stock valued at $49,746,000 after acquiring an additional 287,068 shares during the period. Geode Capital Management LLC increased its position in Ready Capital by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust’s stock worth $29,292,000 after purchasing an additional 150,479 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Ready Capital by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,580 shares of the real estate investment trust’s stock worth $14,257,000 after acquiring an additional 195,663 shares during the period. Clear Harbor Asset Management LLC increased its holdings in shares of Ready Capital by 84.0% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 1,440,250 shares of the real estate investment trust’s stock valued at $10,989,000 after purchasing an additional 657,465 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Ready Capital by 1.8% during the 3rd quarter. Van ECK Associates Corp now owns 1,366,040 shares of the real estate investment trust’s stock worth $9,508,000 after acquiring an additional 23,970 shares in the last quarter. 55.87% of the stock is owned by hedge funds and other institutional investors.

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.