Ready Capital (NYSE:RC) Releases Earnings Results, Misses Expectations By $0.11 EPS

Ready Capital (NYSE:RC) announced its quarterly earnings results on Thursday. The real estate investment trust reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.11), FiscalAI reports. Ready Capital had a negative net margin of 131.76% and a negative return on equity of 16.78%. The company had revenue of $25.33 million during the quarter, compared to the consensus estimate of $23.10 million.

Ready Capital Stock Down 18.7%

NYSE RC traded down $0.20 during trading hours on Friday, reaching $0.87. 7,556,149 shares of the company’s stock were exchanged, compared to its average volume of 1,808,733. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.91 and a current ratio of 1.91. The company has a market capitalization of $143.72 million, a price-to-earnings ratio of -0.23 and a beta of 1.55. The company’s 50-day moving average is $1.34 and its two-hundred day moving average is $1.66. Ready Capital has a one year low of $0.85 and a one year high of $2.98.

Ready Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, September 30th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Wednesday, September 30th. Ready Capital’s dividend payout ratio is presently -1.15%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of Ready Capital from $2.50 to $2.00 and set a “neutral” rating for the company in a report on Thursday, July 16th. Piper Sandler cut their target price on shares of Ready Capital from $2.00 to $1.25 and set a “neutral” rating on the stock in a report on Friday, October 9th. Keefe, Bruyette & Woods reduced their price target on shares of Ready Capital from $1.40 to $1.25 and set an “underperform” rating on the stock in a research report on Friday, October 9th. Zacks Research raised shares of Ready Capital from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Ready Capital in a report on Friday, August 28th. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Ready Capital has a consensus rating of “Reduce” and a consensus price target of $1.50.

About Ready Capital

Ready Capital Corporation (NYSE: RC) is a real estate finance company that operates as a mortgage real estate investment trust. The company provides financing to owners, operators and developers of commercial real estate, with a focus on small- to mid-sized properties and borrowers that may not be served by traditional banks.

Ready Capital originates, acquires, finances and services a range of commercial real estate loans. Its offerings have included bridge loans, construction loans, loans secured by transitional properties, multifamily financing and small business administration (SBA) loans.