Ready Capital Corp (NYSE:RC) declared a quarterly dividend on Wednesday, March 13th, Wall Street Journal reports. Investors of record on Thursday, March 28th will be given a dividend of 0.40 per share by the real estate investment trust on Tuesday, April 30th. This represents a $1.60 annualized dividend and a dividend yield of 10.63%. The ex-dividend date is Wednesday, March 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 research analysts expect Ready Capital to earn $1.81 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 88.4%.
Shares of Ready Capital stock traded down $0.57 during midday trading on Wednesday, hitting $15.05. 555,599 shares of the company were exchanged, compared to its average volume of 148,220. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.80 and a quick ratio of 1.80. Ready Capital has a 52 week low of $13.44 and a 52 week high of $17.30. The company has a market capitalization of $478.04 million, a PE ratio of 10.60 and a beta of 0.79.
Several brokerages have issued reports on RC. Zacks Investment Research downgraded Ready Capital from a “buy” rating to a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $15.50 price objective on shares of Ready Capital in a research report on Tuesday, December 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Ready Capital presently has a consensus rating of “Hold” and an average target price of $17.14.
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About Ready Capital
Ready Capital Corporation operates as a real estate finance company. The company acquires, originates, manages, services, and finances small balance commercial (SBC) loans, small business administration (SBA) loans, residential mortgage loans, and mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.
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