Ready Capital Co. (NYSE:RC) Plans Quarterly Dividend of $0.13

Ready Capital Co. (NYSE:RC) announced a quarterly dividend on Monday, March 3rd, RTT News reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.125 per share by the real estate investment trust on Wednesday, April 30th. This represents a $0.50 annualized dividend and a yield of 7.20%.

Ready Capital has decreased its dividend payment by an average of 16.4% annually over the last three years. Ready Capital has a payout ratio of 105.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Ready Capital to earn $1.05 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 95.2%.

Ready Capital Trading Up 2.1 %

Shares of NYSE:RC opened at $6.95 on Monday. The business’s 50 day moving average price is $6.83 and its 200-day moving average price is $7.27. Ready Capital has a 1 year low of $6.39 and a 1 year high of $9.53. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -9.92 and a beta of 1.43. 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 (NYSE:RC) last posted its quarterly earnings data on Monday, March 3rd. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.02. Ready Capital had a negative net margin of 11.65% and a positive return on equity of 7.53%. On average, equities research analysts forecast that Ready Capital will post 0.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RC shares. JMP Securities lowered their price objective on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a report on Thursday, December 12th. B. Riley reaffirmed a “neutral” rating and issued a $10.00 price target (down from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. UBS Group dropped their price target on Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods decreased their price objective on Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.61.

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.