Ready Capital Corp (NYSE:RC) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Ready Capital Corp (NYSE:RC) have been given an average recommendation of “Reduce” by the six research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $2.8125.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Ready Capital in a research report on Tuesday, June 2nd.

Ready Capital Price Performance

Shares of RC opened at $1.76 on Wednesday. Ready Capital has a 12-month low of $1.50 and a 12-month high of $4.75. The business has a 50-day simple moving average of $1.78 and a two-hundred day simple moving average of $1.88. 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 stock has a market cap of $289.96 million, a PE ratio of -0.55 and a beta of 1.44.

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

Ready Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Tuesday, June 30th. Ready Capital’s dividend payout ratio is presently -1.26%.

Institutional Investors Weigh In On Ready Capital

A number of institutional investors have recently made changes to their positions in the stock. UBS Group AG lifted its position 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 purchasing an additional 1,948,208 shares during the period. Kestra Private Wealth Services LLC acquired a new stake in shares of Ready Capital during the fourth quarter worth $99,000. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Ready Capital by 135.1% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 82,410 shares of the real estate investment trust’s stock worth $180,000 after buying an additional 47,350 shares during the last quarter. Evergreen Capital Management LLC bought a new position in Ready Capital during the fourth quarter worth $47,000. Finally, PDS Planning Inc acquired a new position in Ready Capital in the fourth quarter valued at $49,000. Institutional investors 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.