Ready Capital (NYSE:RC) Lowered to “Market Perform” Rating by Citizens Jmp

Citizens Jmp downgraded shares of Ready Capital (NYSE:RC) from an outperform rating to a market perform rating in a research note issued to investors on Monday morning, MarketBeat reports.

Several other research firms have also weighed in on RC. JMP Securities dropped their price objective on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a research note on Thursday, December 12th. B. Riley reiterated a “neutral” rating and set a $10.00 price objective (down from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. UBS Group lowered their target price on Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods cut their price target 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.61.

Ready Capital Stock Performance

Shares of RC stock opened at $5.06 on Monday. The company has a market capitalization of $852.77 million, a price-to-earnings ratio of -7.23 and a beta of 1.43. Ready Capital has a 1-year low of $4.78 and a 1-year high of $9.53. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54. The stock’s fifty day simple moving average is $6.83 and its 200-day simple moving average is $7.27.

Ready Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 9.88%. Ready Capital’s payout ratio is -142.86%.

Institutional Trading of Ready Capital

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC lifted its position in Ready Capital by 822.8% during the 4th quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 4,616 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Ready Capital by 3,075.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 6,150 shares during the period. Avion Wealth acquired a new position in shares of Ready Capital during the 4th quarter worth about $47,000. KBC Group NV boosted its stake in Ready Capital by 64.1% during the 3rd quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 3,248 shares during the period. Finally, Ausdal Financial Partners Inc. acquired a new stake in Ready Capital in the 4th quarter valued at approximately $68,000. 55.87% of the stock is currently owned by institutional investors and hedge funds.

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.