Ready Capital’s (RC) Neutral Rating Reaffirmed at B. Riley

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

Several other research firms also recently commented on RC. JMP Securities dropped their target price on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research report on Thursday, December 12th. UBS Group dropped their price objective on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Friday, November 15th. Finally, Piper Sandler cut their target price on shares of Ready Capital from $9.50 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Ready Capital has an average rating of “Hold” and a consensus price target of $8.82.

Ready Capital Stock Down 3.1 %

Shares of NYSE:RC opened at $6.65 on Tuesday. 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 52-week low of $6.62 and a 52-week high of $10.36. The company has a market capitalization of $1.12 billion, a PE ratio of -9.50 and a beta of 1.43. The company has a fifty day moving average of $7.18 and a 200-day moving average of $7.81.

Ready Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 15.04%. The ex-dividend date of this dividend is Tuesday, December 31st. Ready Capital’s dividend payout ratio is currently -142.86%.

Institutional Investors Weigh In On Ready Capital

Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in Ready Capital by 2.2% in 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 buying an additional 1,375 shares during the period. Louisiana State Employees Retirement System grew its holdings in 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 acquiring an additional 3,100 shares during the period. Thrivent Financial for Lutherans raised its position 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 acquiring an additional 3,123 shares in the last quarter. KBC Group NV lifted its stake in shares of Ready Capital by 64.1% in 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. Finally, Norden Group LLC boosted its position in shares of Ready Capital by 25.6% during the 2nd quarter. Norden Group LLC now owns 23,002 shares of the real estate investment trust’s stock valued at $188,000 after purchasing an additional 4,693 shares in the last quarter. 55.87% of the stock is owned by institutional investors.

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.