Analysts Set Ready Capital Co. (NYSE:RC) PT at $7.86

Ready Capital Co. (NYSE:RC) has been given an average rating of “Hold” by the nine analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $7.50.

A number of analysts recently issued reports on RC shares. B. Riley reissued a “neutral” rating and set a $10.00 price objective (down previously from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods dropped their price objective on Ready Capital from $6.25 to $4.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 5th. Citizens Jmp lowered Ready Capital from an “outperform” rating to a “market perform” rating in a research note on Monday, March 3rd. Wedbush reissued a “neutral” rating and set a $6.00 target price (down from $8.00) on shares of Ready Capital in a research report on Tuesday, March 4th. Finally, JMP Securities decreased their target price on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a research report on Thursday, December 12th.

Insider Buying and Selling

In related news, insider Adam Zausmer bought 10,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $5.42 per share, with a total value of $54,200.00. Following the transaction, the insider now directly owns 301,105 shares in the company, valued at approximately $1,631,989.10. This trade represents a 3.44 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Ready Capital by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 11,366,828 shares of the real estate investment trust’s stock valued at $77,522,000 after purchasing an additional 768,891 shares during the last quarter. State Street Corp increased its holdings in shares of Ready Capital by 4.8% in the third quarter. State Street Corp now owns 6,315,147 shares of the real estate investment trust’s stock worth $49,746,000 after purchasing an additional 287,068 shares during the period. Geode Capital Management LLC increased its holdings in shares of Ready Capital by 4.1% in the third quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust’s stock worth $29,292,000 after purchasing an additional 150,479 shares during the period. Invesco Ltd. increased its holdings in shares of Ready Capital by 6.8% in the fourth quarter. Invesco Ltd. now owns 3,116,019 shares of the real estate investment trust’s stock worth $21,251,000 after purchasing an additional 197,770 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Ready Capital by 21.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,266,585 shares of the real estate investment trust’s stock worth $15,458,000 after acquiring an additional 398,005 shares in the last quarter. 55.87% of the stock is owned by institutional investors.

Ready Capital Stock Down 0.9 %

Shares of RC stock opened at $5.02 on Thursday. The stock has a market cap of $818.20 million, a PE ratio of -7.16 and a beta of 1.43. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. The business’s fifty day moving average is $6.42 and its 200-day moving average is $7.05. Ready Capital has a 1 year low of $4.74 and a 1 year high of $9.53.

Ready Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.125 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 9.97%. Ready Capital’s payout ratio is -18.94%.

Ready Capital Company Profile

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.