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

Shares of Ready Capital Co. (NYSE:RC) have earned an average rating of “Hold” from the nine research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $7.86.

Several equities research analysts recently commented on the company. Citizens Jmp cut Ready Capital from an “outperform” rating to a “market perform” rating in a report on Monday, March 3rd. Wedbush reissued a “neutral” rating and set a $6.00 target price (down from $8.00) on shares of Ready Capital in a research note on Tuesday, March 4th. B. Riley reissued a “neutral” rating and set a $10.00 price objective (down from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. JMP Securities reduced their target price on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a report on Thursday, December 12th. Finally, UBS Group cut 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.

Insider Transactions at Ready Capital

In other news, CEO Thomas E. Capasse purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $4.80 per share, with a total value of $48,000.00. Following the purchase, the chief executive officer now owns 319,925 shares in the company, valued at $1,535,640. This represents a 3.23 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.09% of the stock is owned by insiders.

Institutional Trading of Ready Capital

A number of institutional investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. lifted its position in shares of Ready Capital by 110.2% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 22,893 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 12,000 shares during the last quarter. AlphaCore Capital LLC lifted its holdings in Ready Capital by 25.4% in the 4th quarter. AlphaCore Capital LLC now owns 23,024 shares of the real estate investment trust’s stock worth $163,000 after purchasing an additional 4,660 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Ready Capital by 19.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 432,540 shares of the real estate investment trust’s stock worth $2,950,000 after purchasing an additional 70,314 shares during the last quarter. Squarepoint Ops LLC boosted its position in Ready Capital by 11.7% during the fourth quarter. Squarepoint Ops LLC now owns 42,964 shares of the real estate investment trust’s stock worth $293,000 after purchasing an additional 4,486 shares during the period. Finally, State of Wyoming acquired a new position in Ready Capital during the fourth quarter valued at approximately $1,094,000. 55.87% of the stock is currently owned by institutional investors and hedge funds.

Ready Capital Stock Up 0.9 %

RC opened at $5.06 on Thursday. 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 has a 12 month low of $4.74 and a 12 month high of $9.53. The stock’s 50 day moving average price is $6.53 and its 200 day moving average price is $7.11. The stock has a market cap of $825.05 million, a P/E ratio of -7.22 and a beta of 1.43.

Ready Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 annualized dividend and a yield of 9.89%. Ready Capital’s dividend payout ratio (DPR) is presently -18.94%.

About Ready Capital

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.