Ready Capital Corp (NYSE:RC) Receives $2.17 Consensus Target Price from Analysts

Ready Capital Corp (NYSE:RC) has been given an average rating of “Reduce” by the five ratings firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $2.1667.

Several brokerages have recently issued reports on RC. Zacks Research raised Ready Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Ready Capital in a research report on Friday, August 28th. Finally, UBS Group decreased their price target on shares of Ready Capital from $2.50 to $2.00 and set a “neutral” rating for the company in a research note on Thursday, July 16th.

Institutional Trading of Ready Capital

Institutional investors and hedge funds have recently bought and sold shares of the company. HB Wealth Management LLC lifted its stake in Ready Capital by 44.2% during the second quarter. HB Wealth Management LLC now owns 18,951 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 5,812 shares during the last quarter. OceanIQ Capital LLC purchased a new position in shares of Ready Capital during the second quarter worth approximately $109,000. Private Management Group Inc. lifted its holdings in shares of Ready Capital by 9.5% in the 2nd quarter. Private Management Group Inc. now owns 7,932,521 shares of the real estate investment trust’s stock worth $13,882,000 after acquiring an additional 689,928 shares during the last quarter. Beacon Pointe Advisors LLC bought a new stake in Ready Capital in the second quarter worth $41,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Ready Capital during the second quarter valued at about $28,000. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

Ready Capital Trading Up 2.1%

NYSE RC opened at $1.67 on Monday. The company has a market cap of $275.04 million, a price-to-earnings ratio of -0.48 and a beta of 1.48. The business has a 50 day moving average price of $1.67 and a 200-day moving average price of $1.72. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.97. Ready Capital has a 52 week low of $1.39 and a 52 week high of $4.41.

Ready Capital (NYSE:RC) last issued its quarterly earnings data on Thursday, August 6th. The real estate investment trust reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.01. Ready Capital had a negative return on equity of 16.78% and a negative net margin of 131.76%.The business had revenue of $151.87 million for the quarter, compared to analysts’ expectations of $16.41 million. As a group, equities analysts expect that Ready Capital will post -0.99 earnings per share for the current fiscal year.

Ready Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.04 annualized dividend and a yield of 2.4%. Ready Capital’s dividend payout ratio (DPR) is -1.15%.

About Ready Capital

Ready Capital Corporation is a real estate finance company organized as a real estate investment trust (REIT). The company originates, acquires, finances and services loans secured by commercial real estate, with a focus on small- to medium-sized properties and borrowers that may require flexible financing solutions.

Ready Capital provides financing for multifamily, commercial and residential investment properties, including bridge, construction and other structured commercial real estate loans.