Ready Capital (NYSE:RC) Share Price Passes Below 200-Day Moving Average – Here’s Why

Shares of Ready Capital Corp (NYSE:RC) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.91 and traded as low as $1.59. Ready Capital shares last traded at $1.6850, with a volume of 1,731,471 shares traded.

Analyst Ratings Changes

A number of analysts recently weighed in on RC shares. Weiss Ratings restated a “sell (e+)” rating on shares of Ready Capital in a research note on Tuesday, June 2nd. Piper Sandler cut their price objective on Ready Capital from $2.50 to $2.00 and set a “neutral” rating for the company in a research report on Monday, March 2nd. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Ready Capital has a consensus rating of “Reduce” and a consensus price target of $2.81.

Ready Capital Stock Up 5.3%

The company has a debt-to-equity ratio of 0.95, a current ratio of 1.60 and a quick ratio of 1.60. The company has a market capitalization of $278.40 million, a price-to-earnings ratio of -0.53 and a beta of 1.44. The firm’s 50-day simple moving average is $1.78 and its two-hundred day simple moving average is $1.91.

Ready Capital (NYSE:RC) last posted its quarterly earnings results 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 company had revenue of $130.55 million for the quarter, compared to analyst estimates of $68.67 million. Ready Capital had a negative net margin of 102.10% and a negative return on equity of 14.69%. Sell-side analysts predict that Ready Capital Corp will post -0.94 EPS for the current fiscal year.

Ready Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Ready Capital’s dividend payout ratio (DPR) is presently -1.26%.

Institutional Trading of Ready Capital

Several large investors have recently bought and sold shares of RC. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ready Capital in the 1st quarter worth about $89,000. United Services Automobile Association purchased a new position in Ready Capital during the 1st quarter valued at about $59,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Ready Capital by 2.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 442,432 shares of the real estate investment trust’s stock valued at $2,252,000 after acquiring an additional 9,892 shares in the last quarter. Focus Partners Wealth increased its holdings in Ready Capital by 13.1% during the 1st quarter. Focus Partners Wealth now owns 263,820 shares of the real estate investment trust’s stock valued at $1,343,000 after acquiring an additional 30,477 shares in the last quarter. Finally, Intech Investment Management LLC raised its position in Ready Capital by 13.1% during the first quarter. Intech Investment Management LLC now owns 230,177 shares of the real estate investment trust’s stock worth $1,172,000 after acquiring an additional 26,607 shares during the last quarter. Institutional investors and hedge funds own 55.87% of the company’s stock.

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.