Ready Capital (NYSE:RC) Earns “Neutral” Rating from B. Riley

B. Riley reiterated their neutral rating on shares of Ready Capital (NYSE:RC) in a research report report published on Tuesday, Marketbeat.com reports. The firm currently has a $10.00 price target on the real estate investment trust’s stock, down from their previous price target of $12.00.

Several other brokerages have also issued reports on RC. UBS Group cut their target price 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. Piper Sandler decreased their target price on Ready Capital from $9.50 to $8.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Finally, JMP Securities cut their price target on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Ready Capital presently has a consensus rating of “Hold” and a consensus target price of $8.82.

Ready Capital Price Performance

Shares of RC opened at $6.86 on Tuesday. The firm has a market cap of $1.16 billion, a PE ratio of -9.80 and a beta of 1.43. Ready Capital has a 52-week low of $6.65 and a 52-week high of $10.36. The business’s 50 day moving average price is $7.18 and its two-hundred day moving average price is $7.82. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67.

Ready Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.58%. Ready Capital’s dividend payout ratio is presently -142.86%.

Institutional Trading of Ready Capital

Several institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in shares of Ready Capital by 2.2% during the second quarter. Victory Capital Management Inc. now owns 63,699 shares of the real estate investment trust’s stock valued at $521,000 after purchasing an additional 1,375 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Ready Capital by 4.0% during the 3rd quarter. Louisiana State Employees Retirement System now owns 81,300 shares of the real estate investment trust’s stock worth $620,000 after buying an additional 3,100 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Ready Capital by 2.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 132,098 shares of the real estate investment trust’s stock worth $1,008,000 after buying an additional 3,123 shares during the last quarter. KBC Group NV grew its holdings in shares of Ready Capital by 64.1% in the third quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 3,248 shares in the last quarter. Finally, Norden Group LLC grew its holdings in shares of Ready Capital by 25.6% in the second quarter. Norden Group LLC now owns 23,002 shares of the real estate investment trust’s stock valued at $188,000 after acquiring an additional 4,693 shares in the last quarter. Institutional investors own 55.87% of the company’s stock.

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.