Ready Capital Corp Declares Quarterly Dividend of $0.01 (NYSE:RC)

Ready Capital Corp (NYSE:RC) announced a quarterly dividend on Monday, June 15th. Investors of record on Tuesday, June 30th will be paid a dividend of 0.01 per share by the real estate investment trust on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, June 30th.

Ready Capital has decreased its dividend by an average of 0.2%annually over the last three years. Ready Capital has a payout ratio of 7.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ready Capital to earn ($0.38) per share next year, which means the company may not be able to cover its $0.04 annual dividend with an expected future payout ratio of -10.5%.

Ready Capital Trading Up 2.1%

Shares of RC opened at $1.73 on Tuesday. The firm’s 50 day simple moving average is $1.77 and its 200 day simple moving average is $1.95. The company has a market capitalization of $285.00 million, a P/E ratio of -0.54 and a beta of 1.44. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.60 and a quick ratio of 1.60. Ready Capital has a 1-year low of $1.50 and a 1-year high of $4.75.

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

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.