Ready Capital Corp (NYSE:RC) Receives $3.55 Consensus PT from Brokerages

Shares of Ready Capital Corp (NYSE:RC) have been given a consensus rating of “Reduce” by the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and six have assigned 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 $3.55.

A number of research firms have commented on RC. Piper Sandler cut their target price on shares of Ready Capital from $3.50 to $2.50 and set a “neutral” rating on the stock in a research report on Monday, December 22nd. UBS Group cut their price objective on shares of Ready Capital from $3.50 to $2.75 and set a “neutral” rating on the stock in a report on Friday, November 14th. Weiss Ratings restated a “sell (d)” rating on shares of Ready Capital in a report on Thursday, January 22nd. Zacks Research raised Ready Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Finally, Keefe, Bruyette & Woods cut their price target on Ready Capital from $3.50 to $2.50 and set an “underperform” rating on the stock in a report on Wednesday, November 12th.

Institutional Investors Weigh In On Ready Capital

Institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC purchased a new stake in Ready Capital during the 4th quarter valued at about $27,000. Samalin Investment Counsel LLC raised its stake in shares of Ready Capital by 52.1% in the fourth quarter. Samalin Investment Counsel LLC now owns 18,157 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 6,221 shares during the last quarter. Kestra Private Wealth Services LLC acquired a new stake in shares of Ready Capital during the fourth quarter worth about $99,000. UBS Group AG boosted its position in Ready Capital by 161.4% in the fourth quarter. UBS Group AG now owns 3,155,403 shares of the real estate investment trust’s stock valued at $6,879,000 after buying an additional 1,948,208 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Ready Capital by 135.1% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 82,410 shares of the real estate investment trust’s stock worth $180,000 after buying an additional 47,350 shares during the period. Institutional investors and hedge funds own 55.87% of the company’s stock.

Ready Capital Trading Down 1.2%

Shares of RC stock opened at $2.06 on Friday. The company has a market cap of $333.18 million, a PE ratio of -1.08 and a beta of 1.45. Ready Capital has a 1 year low of $1.97 and a 1 year high of $7.03. The stock’s 50 day simple moving average is $2.29 and its two-hundred day simple moving average is $3.19. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.56 and a quick ratio of 1.56.

Ready Capital (NYSE:RC) last posted its quarterly earnings data on Thursday, November 6th. The real estate investment trust reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.96). Ready Capital had a negative net margin of 47.30% and a negative return on equity of 7.02%. The firm had revenue of $85.43 million for the quarter, compared to the consensus estimate of $149.14 million. Research analysts predict that Ready Capital will post 0.93 earnings per share for the current year.

Ready Capital Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.04 dividend on an annualized basis and a yield of 1.9%. Ready Capital’s dividend payout ratio is presently -2.09%.

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.