Ready Capital Corp (NYSE:RC) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Ready Capital Corp (NYSE:RC) have been given an average rating of “Reduce” by the six analysts that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $2.6250.

Several analysts recently issued reports on RC shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Ready Capital in a research note on Tuesday, June 2nd. Zacks Research lowered Ready Capital from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. Finally, UBS Group dropped their price objective on Ready Capital from $2.50 to $2.00 and set a “neutral” rating for the company in a report on Thursday, July 16th.

Institutional Trading of Ready Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC purchased a new position in Ready Capital during the 4th quarter valued at $27,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Ready Capital during the 4th quarter valued at about $28,000. Austin Wealth Management LLC bought a new stake in shares of Ready Capital during the 4th quarter valued at about $29,000. Green Ridge Wealth Planning LLC bought a new stake in shares of Ready Capital during the 4th quarter valued at about $32,000. Finally, Allworth Financial LP increased its position in shares of Ready Capital by 354.5% during the fourth quarter. Allworth Financial LP now owns 16,380 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 12,776 shares during the period. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Ready Capital Price Performance

Shares of Ready Capital stock opened at $1.48 on Friday. The firm has a market cap of $243.70 million, a PE ratio of -0.46 and a beta of 1.43. Ready Capital has a 12-month low of $1.47 and a 12-month high of $4.53. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.95. The company’s fifty day simple moving average is $1.69 and its two-hundred day simple moving average is $1.81.

Ready Capital (NYSE:RC) last released its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.18). The firm had revenue of $130.55 million during the quarter, compared to analysts’ expectations of $68.67 million. Ready Capital had a negative net margin of 102.10% and a negative return on equity of 14.69%. As a group, equities analysts expect that Ready Capital will post -0.94 EPS for the current year.

Ready Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, June 30th. Ready Capital’s dividend payout ratio is currently -1.26%.

About Ready Capital

Ready Capital Corporation is a specialty finance real estate investment trust (REIT) that originates, acquires and manages commercial real estate loans and related assets. The company offers financing solutions across a variety of property types, including multifamily, office, retail, industrial, hospitality and mixed-use assets. Ready Capital focuses on delivering flexible loan structures to meet the diverse needs of borrowers in the small balance and middle-market sectors.

Through its small balance commercial real estate lending platform, Ready Capital provides loans typically ranging from $1 million to $15 million for acquisitions, refinancings, renovations and bridge financing.