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

Ready Capital Co. (NYSE:RC) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $10.93.

RC has been the subject of several research analyst reports. BTIG Research started coverage on Ready Capital in a research note on Friday, July 19th. They set a “neutral” rating for the company. LADENBURG THALM/SH SH downgraded Ready Capital from a “buy” rating to a “neutral” rating in a research report on Friday, May 10th.

Insider Buying and Selling at Ready Capital

In other Ready Capital news, Director Gilbert E. Nathan purchased 10,000 shares of the stock in a transaction on Friday, May 24th. The stock was acquired at an average price of $8.29 per share, with a total value of $82,900.00. Following the transaction, the director now directly owns 95,249 shares of the company’s stock, valued at approximately $789,614.21. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.09% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. CWM LLC boosted 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 purchasing an additional 1,634 shares in the last quarter. Bear Mountain Capital Inc. purchased a new position in Ready Capital during the fourth quarter valued at $30,000. EdgeRock Capital LLC bought a new stake in shares of Ready Capital during the 4th quarter valued at $36,000. EntryPoint Capital LLC purchased a new stake in shares of Ready Capital in the 1st quarter worth about $40,000. Finally, MCF Advisors LLC bought a new position in shares of Ready Capital in the 1st quarter worth about $42,000. 55.87% of the stock is currently owned by institutional investors.

Ready Capital Price Performance

Shares of NYSE RC opened at $8.79 on Wednesday. The stock’s 50-day simple moving average is $8.66 and its two-hundred day simple moving average is $8.80. Ready Capital has a twelve month low of $7.93 and a twelve month high of $11.67. The firm has a market capitalization of $1.48 billion, a P/E ratio of 5.46 and a beta of 1.43. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.47.

Ready Capital (NYSE:RC) last posted its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. Ready Capital had a net margin of 23.81% and a return on equity of 8.11%. The firm had revenue of $232.35 million for the quarter, compared to analysts’ expectations of $64.34 million. During the same quarter last year, the company posted $0.31 EPS. As a group, equities analysts anticipate that Ready Capital will post 1.17 EPS for the current fiscal year.

Ready Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.20 annualized dividend and a yield of 13.65%. Ready Capital’s payout ratio is currently 74.53%.

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.