Ready Capital Corp (NYSE:RC) Receives Consensus Rating of “Reduce” from Analysts

Shares of Ready Capital Corp (NYSE:RC) have received an average recommendation of “Reduce” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $3.55.

RC has been the subject of several recent research reports. UBS Group decreased their target price on shares of Ready Capital from $3.50 to $2.75 and set a “neutral” rating for the company in a research report on Friday, November 14th. Piper Sandler decreased their price objective on Ready Capital from $3.50 to $2.50 and set a “neutral” rating for the company in a report on Monday, December 22nd. Weiss Ratings reissued a “sell (d)” rating on shares of Ready Capital in a research note on Thursday, January 22nd. Zacks Research raised Ready Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Finally, Keefe, Bruyette & Woods decreased their price target on Ready Capital from $3.50 to $2.50 and set an “underperform” rating for the company in a report on Wednesday, November 12th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RC. Samalin Investment Counsel LLC grew its position in Ready Capital by 52.1% in the 4th quarter. Samalin Investment Counsel LLC now owns 18,157 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 6,221 shares in the last quarter. Kestra Private Wealth Services LLC purchased a new position in shares of Ready Capital in the 4th quarter worth approximately $99,000. UBS Group AG boosted its stake in shares of Ready Capital by 161.4% in the 4th quarter. UBS Group AG now owns 3,155,403 shares of the real estate investment trust’s stock worth $6,879,000 after buying an additional 1,948,208 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Ready Capital by 135.1% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 82,410 shares of the real estate investment trust’s stock valued at $180,000 after acquiring an additional 47,350 shares in the last quarter. Finally, Evergreen Capital Management LLC purchased a new stake in shares of Ready Capital during the fourth quarter valued at approximately $47,000. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

Ready Capital Price Performance

Shares of RC opened at $2.12 on Friday. The business’s fifty day moving average is $2.31 and its 200 day moving average is $3.23. Ready Capital has a 12-month low of $1.97 and a 12-month high of $7.03. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.79. The stock has a market cap of $342.90 million, a P/E ratio of -1.11 and a beta of 1.46.

Ready Capital (NYSE:RC) last announced its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.96). Ready Capital had a negative net margin of 47.30% and a negative return on equity of 7.02%. The business had revenue of $85.43 million for the quarter, compared to the consensus estimate of $149.14 million. Sell-side analysts anticipate that Ready Capital will post 0.93 earnings per share for the current fiscal year.

Ready Capital Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were paid a $0.01 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.04 annualized dividend and a dividend yield of 1.9%. Ready Capital’s dividend payout ratio is presently -2.09%.

Ready Capital Company Profile

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.