Ready Capital (NYSE:RC) Stock Price Crosses Below 200 Day Moving Average – Time to Sell?

Ready Capital Corp (NYSE:RC)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.83 and traded as low as $1.6350. Ready Capital shares last traded at $1.6450, with a volume of 1,568,371 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RC. UBS Group reduced their price objective on shares of Ready Capital from $2.50 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ready Capital in a research note on Tuesday, June 2nd. Finally, Zacks Research downgraded Ready Capital from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. Three analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Ready Capital has a consensus rating of “Reduce” and an average target price of $2.62.

Ready Capital Price Performance

The company has a 50-day moving average of $1.72 and a two-hundred day moving average of $1.83. 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 stock has a market capitalization of $271.79 million, a PE ratio of -0.52 and a beta of 1.43.

Ready Capital (NYSE:RC) last posted its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported ($0.33) EPS for the quarter, missing the consensus estimate 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 business had revenue of $130.55 million during the quarter, compared to analysts’ expectations of $68.67 million. Sell-side analysts predict that Ready Capital Corp will post -0.94 EPS for the current fiscal year.

Ready Capital Dividend Announcement

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

Institutional Investors Weigh In On Ready Capital

A number of institutional investors have recently bought and sold shares of the stock. UBS Group AG raised its stake in Ready Capital by 161.4% during the fourth 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 purchased a new stake in shares of Ready Capital during the 4th quarter valued at $99,000. Evergreen Capital Management LLC purchased a new stake in shares of Ready Capital during the 4th quarter valued at $47,000. M&T Bank Corp acquired a new stake in shares of Ready Capital during the 2nd quarter worth $50,000. Finally, Quarry LP increased its holdings in shares of Ready Capital by 4,494.6% during the 3rd quarter. Quarry LP now owns 9,373 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 9,169 shares during the last quarter. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

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.