Brokerages Set Ready Capital Corp (NYSE:RC) Price Target at $2.81

Ready Capital Corp (NYSE:RC) has been assigned a consensus recommendation of “Reduce” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $2.8125.

RC has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Ready Capital in a research report on Tuesday, June 2nd. Zacks Research lowered shares of Ready Capital from a “hold” rating to a “strong sell” rating in a research note on Monday.

Institutional Investors Weigh In On Ready Capital

A number of large investors have recently made changes to their positions in RC. CW Advisors LLC grew its holdings in Ready Capital by 11.6% in the 2nd quarter. CW Advisors LLC now owns 27,590 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 2,878 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Ready Capital by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 84,372 shares of the real estate investment trust’s stock valued at $369,000 after buying an additional 2,905 shares during the period. Cerity Partners LLC increased its holdings in shares of Ready Capital by 29.0% during the 2nd quarter. Cerity Partners LLC now owns 15,220 shares of the real estate investment trust’s stock worth $67,000 after buying an additional 3,419 shares during the last quarter. Huntington National Bank grew its position in Ready Capital by 234.6% in the third quarter. Huntington National Bank now owns 8,749 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 6,134 shares during the period. Finally, Samalin Investment Counsel LLC increased its stake in Ready Capital by 52.1% during the fourth quarter. Samalin Investment Counsel LLC now owns 18,157 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 6,221 shares during the last quarter. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

Ready Capital Trading Up 1.5%

Shares of Ready Capital stock opened at $1.69 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.95. Ready Capital has a 12-month low of $1.50 and a 12-month high of $4.73. The firm has a market capitalization of $278.40 million, a price-to-earnings ratio of -0.53 and a beta of 1.43. The firm’s 50 day simple moving average is $1.77 and its two-hundred day simple moving average is $1.86.

Ready Capital (NYSE:RC) last posted its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.18). Ready Capital had a negative return on equity of 14.69% and a negative net margin of 102.10%.The company had revenue of $130.55 million for the quarter, compared to analyst estimates of $68.67 million. Analysts predict that Ready Capital will post -0.94 EPS for the current year.

Ready Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Ready Capital’s payout ratio is -1.26%.

About Ready Capital

Ready Capital Corporation is a specialty finance real estate investment trust (REIT) that originates, acquires and manages commercial real estate loans and related assets. The company offers financing solutions across a variety of property types, including multifamily, office, retail, industrial, hospitality and mixed-use assets. Ready Capital focuses on delivering flexible loan structures to meet the diverse needs of borrowers in the small balance and middle-market sectors.

Through its small balance commercial real estate lending platform, Ready Capital provides loans typically ranging from $1 million to $15 million for acquisitions, refinancings, renovations and bridge financing.