Ready Capital Co. (NYSE:RC) Receives $8.61 Average PT from Brokerages

Ready Capital Co. (NYSE:RC) has been given an average rating of “Hold” by the eight research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $8.61.

A number of brokerages recently issued reports on RC. UBS Group decreased their price objective on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Friday, November 15th. JMP Securities lowered their price target on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a report on Thursday, December 12th. Keefe, Bruyette & Woods reduced their price objective on Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a research note on Tuesday, January 14th. Finally, B. Riley reissued a “neutral” rating and set a $10.00 target price (down previously from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. KBC Group NV raised its position in Ready Capital by 64.1% during the 3rd quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 3,248 shares during the last quarter. Xponance Inc. acquired a new stake in shares of Ready Capital in the second quarter valued at about $84,000. Modera Wealth Management LLC bought a new position in shares of Ready Capital during the third quarter worth about $107,000. Sanctuary Advisors LLC acquired a new position in shares of Ready Capital in the second quarter worth approximately $126,000. Finally, Fisher Asset Management LLC bought a new stake in Ready Capital in the third quarter valued at approximately $116,000. Institutional investors and hedge funds own 55.87% of the company’s stock.

Ready Capital Trading Down 0.1 %

Shares of Ready Capital stock opened at $6.82 on Wednesday. The firm’s 50-day moving average price is $7.12 and its two-hundred day moving average price is $7.69. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -9.74 and a beta of 1.43. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. Ready Capital has a 12-month low of $6.45 and a 12-month high of $9.96.

Ready Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.67%. The ex-dividend date is Tuesday, December 31st. Ready Capital’s payout ratio is -142.86%.

About Ready Capital

Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments.