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

Shares of Ready Capital Co. (NYSE:RC) have been given a consensus rating of “Hold” by the eight research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $8.61.

RC has been the subject of a number of recent research reports. B. Riley reiterated a “neutral” rating and set a $10.00 price target (down previously from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods decreased their price target on shares of 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 decreased their price target on shares of 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. Finally, UBS Group decreased 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.

Ready Capital Trading Down 1.5 %

Shares of Ready Capital stock opened at $6.80 on Wednesday. The company has a fifty day simple moving average of $7.11 and a 200-day simple moving average of $7.64. Ready Capital has a 12-month low of $6.45 and a 12-month high of $9.96. 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 has a market cap of $1.15 billion, a price-to-earnings ratio of -9.71 and a beta of 1.43.

Ready Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 14.72%. Ready Capital’s payout ratio is currently -142.86%.

Hedge Funds Weigh In On Ready Capital

Large investors have recently bought and sold shares of the company. KBC Group NV raised its position 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 worth $63,000 after buying an additional 3,248 shares during the last quarter. Xponance Inc. purchased a new position in Ready Capital during the 2nd quarter worth $84,000. Modera Wealth Management LLC purchased a new position in shares of Ready Capital in the 3rd quarter valued at about $107,000. Fisher Asset Management LLC purchased a new position in shares of Ready Capital in the 3rd quarter valued at about $116,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Ready Capital in the 2nd quarter valued at about $126,000. Hedge funds and other institutional investors own 55.87% of the company’s stock.

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.