Ready Capital Co. (RC) To Go Ex-Dividend on March 31st

Ready Capital Co. (NYSE:RC) announced a quarterly dividend on Monday, March 3rd, RTT News reports. Investors of record on Monday, March 31st will be paid a dividend of 0.125 per share by the real estate investment trust on Wednesday, April 30th. This represents a $0.50 annualized dividend and a yield of 10.11%. The ex-dividend date of this dividend is Monday, March 31st.

Ready Capital has decreased its dividend by an average of 16.4% per year over the last three years. Ready Capital has a payout ratio of 55.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ready Capital to earn $1.05 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 47.6%.

Ready Capital Trading Down 2.5 %

RC stock opened at $4.95 on Wednesday. Ready Capital has a twelve month low of $4.74 and a twelve month high of $9.53. The stock has a market capitalization of $833.39 million, a price-to-earnings ratio of -7.06 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. The firm’s fifty day simple moving average is $6.78 and its two-hundred day simple moving average is $7.25.

Analyst Ratings Changes

Several brokerages have recently weighed in on RC. B. Riley reissued a “neutral” rating and issued a $10.00 target price (down previously from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods reduced their target price 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. JMP Securities reduced their target price on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a research note on Thursday, December 12th. Citizens Jmp downgraded shares of Ready Capital from an “outperform” rating to a “market perform” rating in a research note on Monday. Finally, Wedbush reissued a “neutral” rating and issued a $6.00 target price (down previously from $8.00) on shares of Ready Capital in a research note on Tuesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ready Capital has an average rating of “Hold” and a consensus target price of $8.18.

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.