Analysts Set Ready Capital Co. (NYSE:RC) Price Target at $9.11

Ready Capital Co. (NYSE:RC) has been assigned a consensus rating of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $9.11.

Several brokerages have recently issued reports on RC. JMP Securities reduced their price target 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. Piper Sandler cut their price objective on shares of Ready Capital from $9.50 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, UBS Group decreased their target price on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Friday, November 15th.

Institutional Trading of Ready Capital

Institutional investors have recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of Ready Capital by 205.9% during the 3rd quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust’s stock worth $3,699,000 after acquiring an additional 326,467 shares during the period. Clear Harbor Asset Management LLC lifted its stake in Ready Capital by 84.0% during the third quarter. Clear Harbor Asset Management LLC now owns 1,440,250 shares of the real estate investment trust’s stock worth $10,989,000 after purchasing an additional 657,465 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Ready Capital by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,580 shares of the real estate investment trust’s stock worth $14,257,000 after purchasing an additional 195,663 shares during the period. Wolverine Asset Management LLC boosted its holdings in Ready Capital by 2,902.2% during the third quarter. Wolverine Asset Management LLC now owns 402,291 shares of the real estate investment trust’s stock valued at $3,069,000 after purchasing an additional 388,891 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Ready Capital by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust’s stock valued at $29,292,000 after purchasing an additional 150,479 shares during the period. Institutional investors and hedge funds own 55.87% of the company’s stock.

Ready Capital Stock Performance

RC stock opened at $6.82 on Friday. The firm has a 50 day simple moving average of $7.19 and a 200 day simple moving average of $7.87. Ready Capital has a 52 week low of $6.65 and a 52 week high of $10.36. The stock has a market cap of $1.15 billion, a P/E ratio of -9.74 and a beta of 1.43. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67.

Ready Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 14.66%. The ex-dividend date of this dividend is Tuesday, December 31st. Ready Capital’s payout ratio is presently -142.86%.

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.