Ready Capital Co. (NYSE:RC) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Ready Capital Co. (NYSE:RC – Get Rating) have received an average rating of “Hold” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $13.93.

Several brokerages recently weighed in on RC. Piper Sandler reduced their price target on shares of Ready Capital from $13.00 to $12.50 and set a “neutral” rating on the stock in a research report on Tuesday, February 28th. StockNews.com began coverage on shares of Ready Capital in a research report on Thursday. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Ready Capital from $13.00 to $12.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 14th. Finally, UBS Group lifted their price objective on shares of Ready Capital from $11.00 to $11.50 and gave the stock a “neutral” rating in a research note on Wednesday, December 21st.

Ready Capital Trading Down 4.3 %

Ready Capital stock opened at $9.46 on Friday. The stock has a market cap of $1.05 billion, a P/E ratio of 5.56 and a beta of 1.37. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.37 and a quick ratio of 1.37. Ready Capital has a 1 year low of $9.36 and a 1 year high of $15.92. The firm’s 50 day moving average price is $12.13 and its 200-day moving average price is $12.09.

Ready Capital (NYSE:RC – Get Rating) last released its quarterly earnings data on Monday, February 27th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. The firm had revenue of $249.49 million for the quarter, compared to analysts’ expectations of $73.45 million. Ready Capital had a net margin of 27.22% and a return on equity of 11.52%. On average, equities analysts predict that Ready Capital will post 1.6 earnings per share for the current fiscal year.

Ready Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, March 31st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 16.91%. The ex-dividend date is Thursday, March 30th. Ready Capital’s dividend payout ratio is currently 94.12%.

Insiders Place Their Bets

In related news, Director Gilbert E. Nathan acquired 5,000 shares of the stock in a transaction dated Tuesday, March 7th. The stock was acquired at an average cost of $10.95 per share, for a total transaction of $54,750.00. Following the completion of the purchase, the director now owns 56,565 shares of the company’s stock, valued at approximately $619,386.75. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Dominique Mielle acquired 7,500 shares of the stock in a transaction dated Friday, March 3rd. The stock was acquired at an average cost of $14.15 per share, for a total transaction of $106,125.00. Following the completion of the purchase, the director now owns 35,988 shares of the company’s stock, valued at approximately $509,230.20. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gilbert E. Nathan acquired 5,000 shares of the stock in a transaction dated Tuesday, March 7th. The shares were bought at an average price of $10.95 per share, with a total value of $54,750.00. Following the completion of the purchase, the director now directly owns 56,565 shares of the company’s stock, valued at approximately $619,386.75. The disclosure for this purchase can be found here. Corporate insiders own 1.64% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Voya Investment Management LLC boosted its stake in shares of Ready Capital by 12.6% during the 4th quarter. Voya Investment Management LLC now owns 58,233 shares of the real estate investment trust’s stock worth $649,000 after acquiring an additional 6,502 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Ready Capital by 94.4% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 31,313 shares of the real estate investment trust’s stock worth $348,000 after purchasing an additional 15,208 shares during the period. Alliancebernstein L.P. boosted its position in Ready Capital by 28.6% during the fourth quarter. Alliancebernstein L.P. now owns 96,610 shares of the real estate investment trust’s stock worth $1,076,000 after purchasing an additional 21,479 shares in the last quarter. CI Private Wealth LLC purchased a new position in Ready Capital during the fourth quarter worth approximately $112,000. Finally, State of Tennessee Treasury Department boosted its position in Ready Capital by 21.1% during the fourth quarter. State of Tennessee Treasury Department now owns 74,717 shares of the real estate investment trust’s stock worth $832,000 after purchasing an additional 13,013 shares in the last quarter. 62.84% of the stock is currently owned by institutional investors and hedge funds.

Ready Capital Company Profile

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Ready Capital Corp. is a real estate finance company, which engages in acquiring, managing, and financing small balance commercial loans. It operates through the following segments: SBC Lending and Acquisitions, Small Business Lending, and Residential Mortgage Banking. The SBC Lending and Acquisitions segment is involved in the SBC loans across the full life-cycle of an SBC property including construction, bridge, stabilized, and agency loan origination channels through wholly-owned subsidiary, ReadyCap Commercial, LLC.