Analysts Set Ready Capital Co. (NYSE:RC) PT at $10.93

Shares of Ready Capital Co. (NYSE:RC) have been assigned an average rating of “Hold” from the six research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $10.93.

A number of research analysts recently commented on RC shares. StockNews.com downgraded Ready Capital from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. UBS Group dropped their price target on Ready Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a research note on Wednesday, March 20th. B. Riley reaffirmed a “buy” rating and issued a $12.00 price target (down previously from $13.00) on shares of Ready Capital in a research note on Monday, March 4th. BTIG Research dropped their price target on Ready Capital from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 price target (down previously from $10.00) on shares of Ready Capital in a research note on Monday, March 4th.

Ready Capital Stock Down 0.6 %

RC opened at $8.82 on Monday. Ready Capital has a fifty-two week low of $8.25 and a fifty-two week high of $11.97. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.89 and a current ratio of 1.89. The company has a market capitalization of $1.52 billion, a P/E ratio of 3.77 and a beta of 1.40. The stock has a fifty day moving average of $8.82 and a 200-day moving average of $9.60.

Ready Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 13.61%. The ex-dividend date of this dividend is Wednesday, March 27th. Ready Capital’s payout ratio is 51.28%.

Insiders Place Their Bets

In other news, Director Kevin M. Luebbers purchased 5,000 shares of Ready Capital stock in a transaction dated Tuesday, March 5th. The shares were bought at an average cost of $8.43 per share, for a total transaction of $42,150.00. Following the completion of the acquisition, the director now owns 119,925 shares in the company, valued at approximately $1,010,967.75. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Gilbert E. Nathan bought 10,000 shares of Ready Capital stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $8.65 per share, for a total transaction of $86,500.00. Following the completion of the acquisition, the director now directly owns 83,099 shares of the company’s stock, valued at approximately $718,806.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin M. Luebbers bought 5,000 shares of Ready Capital stock in a transaction that occurred on Tuesday, March 5th. The stock was bought at an average price of $8.43 per share, for a total transaction of $42,150.00. Following the completion of the acquisition, the director now directly owns 119,925 shares of the company’s stock, valued at $1,010,967.75. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 17,150 shares of company stock valued at $148,280. 0.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Ready Capital

Several institutional investors have recently added to or reduced their stakes in RC. Bear Mountain Capital Inc. bought a new stake in Ready Capital in the fourth quarter valued at approximately $30,000. EdgeRock Capital LLC bought a new position in shares of Ready Capital during the 4th quarter worth approximately $36,000. MCF Advisors LLC bought a new position in shares of Ready Capital during the 1st quarter worth approximately $42,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Ready Capital by 112.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the real estate investment trust’s stock worth $77,000 after buying an additional 4,039 shares in the last quarter. Finally, Naviter Wealth LLC bought a new position in shares of Ready Capital during the 1st quarter worth approximately $94,000. 55.87% of the stock is currently owned by institutional investors.

About Ready Capital

Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments.