Ready Capital Corp (NYSE:RC) declared a quarterly dividend on Tuesday, September 10th, NASDAQ reports. Stockholders of record on Monday, September 30th will be given a dividend of 0.40 per share by the real estate investment trust on Thursday, October 31st. This represents a $1.60 annualized dividend and a dividend yield of 10.54%. The ex-dividend date of this dividend is Friday, September 27th.
Ready Capital has a payout ratio of 90.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Ready Capital to earn $1.74 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 92.0%.
Shares of Ready Capital stock traded down $0.01 on Thursday, hitting $15.18. The company had a trading volume of 2,946 shares, compared to its average volume of 167,862. The business has a 50-day simple moving average of $14.89 and a 200-day simple moving average of $14.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.41 and a quick ratio of 1.41. The company has a market cap of $669.78 million, a PE ratio of 8.63 and a beta of 0.70. Ready Capital has a 52 week low of $13.44 and a 52 week high of $17.15.
Ready Capital (NYSE:RC) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. Ready Capital had a net margin of 30.47% and a return on equity of 8.40%. The business had revenue of $21.28 million during the quarter, compared to analyst estimates of $17.58 million. On average, equities research analysts predict that Ready Capital will post 1.56 earnings per share for the current fiscal year.
Several analysts recently commented on RC shares. Zacks Investment Research raised shares of Ready Capital from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. TheStreet upgraded shares of Ready Capital from a “c” rating to a “b-” rating in a research report on Wednesday, August 14th. Finally, Cantor Fitzgerald reduced their price target on shares of Ready Capital from $17.00 to $16.50 and set a “market outperform” rating for the company in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $16.50.
Ready Capital Company Profile
Ready Capital Corporation operates as a real estate finance company in the United States. The company originates, acquires, finances, and services small balance commercial (SBC) loans, small business administration (SBA) loans, and residential mortgage loans, as well as mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.
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