Ready Capital Co. (NYSE:RC) Receives Average Rating of “Hold” from Brokerages

Shares of Ready Capital Co. (NYSE:RC) have been assigned a consensus rating of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $8.61.

Several research firms have commented on RC. UBS Group reduced their price objective on Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Friday, November 15th. Keefe, Bruyette & Woods cut their price target on shares of Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a research note on Tuesday, January 14th. B. Riley reissued a “neutral” rating and set a $10.00 price target (down from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. Finally, JMP Securities decreased 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.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RC. Louisiana State Employees Retirement System lifted its stake in shares of Ready Capital by 4.0% during the third quarter. Louisiana State Employees Retirement System now owns 81,300 shares of the real estate investment trust’s stock worth $620,000 after purchasing an additional 3,100 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Ready Capital by 2.4% in the third 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 period. KBC Group NV boosted its stake 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 valued at $63,000 after purchasing an additional 3,248 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Ready Capital by 12.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,682 shares of the real estate investment trust’s stock valued at $326,000 after acquiring an additional 4,729 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in shares of Ready Capital by 5.2% during the third quarter. State of Alaska Department of Revenue now owns 95,992 shares of the real estate investment trust’s stock valued at $732,000 after purchasing an additional 4,775 shares in the last quarter. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Ready Capital Stock Performance

NYSE RC opened at $6.82 on Wednesday. The business’s 50 day moving average price is $7.12 and its 200-day moving average price is $7.67. The company has a market cap of $1.15 billion, a P/E ratio of -9.74 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. Ready Capital has a fifty-two week low of $6.45 and a fifty-two week high of $9.96.

Ready Capital Dividend Announcement

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