Ready Capital (NYSE:RC) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Ready Capital (NYSE:RC) from a strong sell rating to a hold rating in a research report report published on Tuesday,Zacks.com reports.

RC has been the topic of a number of other reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Ready Capital in a report on Tuesday, June 2nd. UBS Group decreased their price target on shares of Ready Capital from $2.50 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, July 16th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $2.62.

Ready Capital Stock Performance

Ready Capital stock opened at $1.53 on Tuesday. Ready Capital has a fifty-two week low of $1.39 and a fifty-two week high of $4.46. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a market cap of $253.61 million, a P/E ratio of -0.48 and a beta of 1.45. The firm’s fifty day moving average price is $1.65 and its 200-day moving average price is $1.77.

Ready Capital (NYSE:RC) last released its earnings results on Thursday, May 7th. The real estate investment trust reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.18). Ready Capital had a negative net margin of 102.10% and a negative return on equity of 14.69%. The firm had revenue of $130.55 million during the quarter, compared to the consensus estimate of $68.67 million. On average, equities research analysts expect that Ready Capital will post -0.94 earnings per share for the current fiscal year.

Ready Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, June 30th. Ready Capital’s dividend payout ratio (DPR) is presently -1.26%.

Institutional Trading of Ready Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd purchased a new position in Ready Capital during the 1st quarter valued at $89,000. United Services Automobile Association purchased a new position in shares of Ready Capital during the first quarter valued at about $59,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Ready Capital by 2.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 442,432 shares of the real estate investment trust’s stock valued at $2,252,000 after buying an additional 9,892 shares during the period. Focus Partners Wealth raised its stake in Ready Capital by 13.1% in the first quarter. Focus Partners Wealth now owns 263,820 shares of the real estate investment trust’s stock worth $1,343,000 after buying an additional 30,477 shares in the last quarter. Finally, Intech Investment Management LLC lifted its holdings in Ready Capital by 13.1% in the first quarter. Intech Investment Management LLC now owns 230,177 shares of the real estate investment trust’s stock worth $1,172,000 after buying an additional 26,607 shares during the period. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Ready Capital Company Profile

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.