Ready Capital Co. (NYSE:RC) Receives Average Recommendation of “Hold” from Analysts

Shares of Ready Capital Co. (NYSE:RC) have received a consensus recommendation of “Hold” from the seven analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $10.93.

RC has been the subject of a number of recent research reports. LADENBURG THALM/SH SH downgraded shares of Ready Capital from a “buy” rating to a “neutral” rating in a research report on Friday, May 10th. UBS Group cut their price objective on shares of Ready Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a research report on Wednesday, March 20th. Finally, BTIG Research cut their price objective on shares of Ready Capital from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th.

Insider Activity at Ready Capital

In other news, Director Gilbert E. Nathan purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average cost of $8.29 per share, for a total transaction of $82,900.00. Following the acquisition, the director now owns 95,249 shares of the company’s stock, valued at approximately $789,614.21. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.09% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ready Capital

Institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC grew its holdings in Ready Capital by 94.6% in the second quarter. CWM LLC now owns 3,361 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 1,634 shares during the last quarter. Bear Mountain Capital Inc. acquired a new stake in shares of Ready Capital during the fourth quarter worth $30,000. EdgeRock Capital LLC acquired a new stake in shares of Ready Capital during the fourth quarter worth $36,000. EntryPoint Capital LLC acquired a new stake in shares of Ready Capital during the first quarter worth $40,000. Finally, MCF Advisors LLC acquired a new stake in shares of Ready Capital during the first quarter worth $42,000. 55.87% of the stock is owned by hedge funds and other institutional investors.

Ready Capital Price Performance

Shares of RC opened at $8.67 on Friday. The company has a market capitalization of $1.46 billion, a P/E ratio of 5.39 and a beta of 1.43. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $8.44 and a 200 day moving average of $8.94. Ready Capital has a twelve month low of $7.93 and a twelve month high of $11.97.

Ready Capital (NYSE:RC) last posted its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Ready Capital had a net margin of 23.81% and a return on equity of 8.11%. The business had revenue of $232.35 million during the quarter, compared to the consensus estimate of $64.34 million. During the same quarter in the previous year, the firm posted $0.31 EPS. As a group, equities research analysts anticipate that Ready Capital will post 1.17 earnings per share for the current fiscal year.

Ready Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, June 28th. This represents a $1.20 annualized dividend and a yield of 13.84%. Ready Capital’s payout ratio is 74.53%.

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.