Ready Capital Co. (NYSE:RC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Ready Capital Co. (NYSE:RC) have earned an average recommendation of “Hold” from the nine brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $7.50.

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

Insider Buying and Selling

In related news, insider Adam Zausmer acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $5.42 per share, for a total transaction of $54,200.00. Following the purchase, the insider now directly owns 301,105 shares of the company’s stock, valued at $1,631,989.10. This trade represents a 3.44 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 1.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ready Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC raised its stake in Ready Capital by 822.8% in the fourth quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 4,616 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in Ready Capital by 3,075.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 6,150 shares during the last quarter. Avion Wealth purchased a new position in shares of Ready Capital in the fourth quarter worth about $47,000. KBC Group NV raised its stake 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 worth $63,000 after purchasing an additional 3,248 shares during the last quarter. Finally, Ausdal Financial Partners Inc. purchased a new position in shares of Ready Capital in the fourth quarter worth about $68,000. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

Ready Capital Trading Up 1.9 %

Ready Capital stock opened at $5.17 on Thursday. The business has a 50-day simple moving average of $6.35 and a two-hundred day simple moving average of $6.99. The company has a market cap of $842.67 million, a P/E ratio of -7.38 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 52-week low of $4.74 and a 52-week high of $9.54.

Ready Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 9.68%. The ex-dividend date of this dividend is Monday, March 31st. Ready Capital’s dividend payout ratio (DPR) is currently -18.94%.

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.