Ready Capital Corp (NYSE:RC) Given Consensus Rating of “Hold” by Analysts

Shares of Ready Capital Corp (NYSE:RCGet Free Report) have been given an average recommendation of “Hold” by the eight ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $7.04.

Several equities analysts recently weighed in on the company. UBS Group reduced their target price on Ready Capital from $4.75 to $4.50 and set a “neutral” rating on the stock in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods increased their target price on Ready Capital from $3.75 to $4.25 and gave the stock an “underperform” rating in a research report on Thursday, July 10th.

Check Out Our Latest Analysis on RC

Hedge Funds Weigh In On Ready Capital

A number of large investors have recently modified their holdings of RC. Vanguard Group Inc. grew its stake in shares of Ready Capital by 0.7% in the first quarter. Vanguard Group Inc. now owns 11,450,959 shares of the real estate investment trust’s stock valued at $58,285,000 after buying an additional 84,131 shares in the last quarter. Invesco Ltd. grew its stake in shares of Ready Capital by 16.1% in the first quarter. Invesco Ltd. now owns 3,618,181 shares of the real estate investment trust’s stock valued at $18,417,000 after buying an additional 502,162 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Ready Capital by 0.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,276,719 shares of the real estate investment trust’s stock valued at $11,588,000 after buying an additional 10,134 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ready Capital by 5.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,018,413 shares of the real estate investment trust’s stock valued at $13,766,000 after buying an additional 98,895 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Ready Capital by 6.3% in the fourth quarter. Northern Trust Corp now owns 1,833,044 shares of the real estate investment trust’s stock valued at $12,501,000 after buying an additional 108,519 shares in the last quarter. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

Ready Capital Stock Down 2.7%

RC opened at $4.23 on Wednesday. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.77. The firm has a market cap of $721.94 million, a P/E ratio of -2.43 and a beta of 1.43. Ready Capital has a 52 week low of $3.93 and a 52 week high of $9.54. The business’s fifty day simple moving average is $4.41 and its 200 day simple moving average is $5.27.

Ready Capital (NYSE:RCGet Free Report) last posted its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.21). The company had revenue of $40.24 million for the quarter, compared to analyst estimates of $212.33 million. Ready Capital had a negative net margin of 34.40% and a positive return on equity of 5.53%. As a group, equities research analysts anticipate that Ready Capital will post 0.93 EPS for the current fiscal year.

Ready Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 11.81%. Ready Capital’s dividend payout ratio (DPR) is -28.74%.

About Ready Capital

(Get Free Report

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.

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Analyst Recommendations for Ready Capital (NYSE:RC)

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