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

Shares of Ready Capital Co. (NYSE:RC) have been given an average recommendation of “Hold” by the eight research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $9.38.

A number of brokerages have commented on RC. BTIG Research began coverage on shares of Ready Capital in a report on Friday, July 19th. They issued a “neutral” rating for the company. Piper Sandler dropped their price target on Ready Capital from $9.50 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Wedbush restated a “neutral” rating and set a $9.00 price target on shares of Ready Capital in a research note on Monday, August 12th. Finally, Keefe, Bruyette & Woods dropped their price target on Ready Capital from $8.00 to $7.75 and set an “underperform” rating on the stock in a research note on Monday, August 12th.

Ready Capital Stock Performance

Shares of Ready Capital stock opened at $7.21 on Friday. The company has a market capitalization of $1.21 billion, a PE ratio of -10.30 and a beta of 1.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.69 and a current ratio of 1.69. The company has a 50-day simple moving average of $7.40 and a two-hundred day simple moving average of $8.17. Ready Capital has a one year low of $6.65 and a one year high of $11.67.

Ready Capital Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 13.87%. Ready Capital’s dividend payout ratio is currently -142.86%.

Institutional Investors Weigh In On Ready Capital

A number of large investors have recently bought and sold shares of the company. CWM LLC raised its stake in shares of Ready Capital by 94.6% during the 2nd quarter. CWM LLC now owns 3,361 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 1,634 shares during the period. EntryPoint Capital LLC purchased a new stake in Ready Capital in the 1st quarter valued at $40,000. KBC Group NV grew its holdings in 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 buying an additional 3,248 shares in the last quarter. Xponance Inc. purchased a new stake in Ready Capital in the 2nd quarter valued at $84,000. Finally, Cadence Bank purchased a new stake in Ready Capital in the 1st quarter valued at $91,000. Hedge funds and other institutional investors own 55.87% of the company’s stock.

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.