Ready Capital (NYSE:RC) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Ready Capital (NYSE:RC) issued its earnings results on Monday. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02, Zacks reports. Ready Capital had a positive return on equity of 7.53% and a negative net margin of 11.65%.

Ready Capital Stock Up 2.1 %

Shares of Ready Capital stock opened at $6.95 on Monday. Ready Capital has a 12-month low of $6.39 and a 12-month high of $9.53. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average price of $6.83 and a two-hundred day moving average price of $7.27. The stock has a market capitalization of $1.17 billion, a P/E ratio of -9.92 and a beta of 1.43.

Ready Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 7.20%. Ready Capital’s dividend payout ratio is currently -142.86%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. B. Riley reiterated a “neutral” rating and issued a $10.00 target price (down from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. UBS Group lowered their price target on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Friday, November 15th. JMP Securities cut their price objective 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, Keefe, Bruyette & Woods dropped their target price on Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.61.

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.