Ready Capital Corp (NYSE:RC) announced a quarterly dividend on Wednesday, September 16th, Wall Street Journal reports. Investors of record on Wednesday, September 30th will be paid a dividend of 0.30 per share by the real estate investment trust on Friday, October 30th. This represents a $1.20 dividend on an annualized basis and a yield of 10.03%. The ex-dividend date of this dividend is Tuesday, September 29th. This is a positive change from Ready Capital’s previous quarterly dividend of $0.25.
Ready Capital has increased its dividend by 3.2% over the last three years.
RC stock traded up $0.34 during mid-day trading on Wednesday, reaching $11.97. 423,827 shares of the company traded hands, compared to its average volume of 551,050. The company has a fifty day moving average price of $9.64 and a 200-day moving average price of $8.29. Ready Capital has a 52-week low of $3.92 and a 52-week high of $16.90. The company has a market capitalization of $638.17 million, a P/E ratio of 34.21 and a beta of 1.08. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.65 and a quick ratio of 1.65.
Ready Capital (NYSE:RC) last released its quarterly earnings data on Thursday, August 6th. The real estate investment trust reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03). Ready Capital had a net margin of 6.20% and a return on equity of 9.82%. As a group, analysts forecast that Ready Capital will post 1.3 EPS for the current year.
A number of research analysts have recently commented on RC shares. B. Riley boosted their price target on shares of Ready Capital from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. LADENBURG THALM/SH SH upgraded Ready Capital from a “neutral” rating to a “buy” rating in a research report on Friday, August 7th. Raymond James raised their price target on Ready Capital from $11.50 to $12.50 and gave the company an “outperform” rating in a report on Wednesday. ValuEngine raised Ready Capital from a “strong sell” rating to a “sell” rating in a report on Thursday, June 4th. Finally, Zacks Investment Research cut shares of Ready Capital from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $12.92.
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.
Recommended Story: What is an Initial Coin Offering (ICO)?
Receive News & Ratings for Ready Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ready Capital and related companies with MarketBeat.com's FREE daily email newsletter.