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

Shares of Ready Capital Co. (NYSE:RC) have been given a consensus recommendation of “Hold” by the eight analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $8.61.

A number of analysts have recently commented on RC shares. UBS Group dropped their price objective on Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Friday, November 15th. Keefe, Bruyette & Woods decreased their price objective on shares of Ready Capital from $6.75 to $6.25 and set an “underperform” rating for the company in a report on Tuesday, January 14th. B. Riley reaffirmed a “neutral” rating and set a $10.00 price objective (down previously from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. Finally, JMP Securities cut 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.

Ready Capital Price Performance

Shares of NYSE:RC opened at $7.05 on Wednesday. Ready Capital has a 52 week low of $6.45 and a 52 week high of $10.00. The business has a fifty day simple moving average of $7.14 and a 200-day simple moving average of $7.72. 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 company has a market cap of $1.19 billion, a P/E ratio of -10.06 and a beta of 1.43.

Ready Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 14.19%. Ready Capital’s payout ratio is presently -142.86%.

Institutional Trading of Ready Capital

Large investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its position in Ready Capital by 4.0% in 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 acquiring an additional 3,100 shares in the last quarter. Thrivent Financial for Lutherans raised 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 purchasing an additional 3,123 shares in the last quarter. KBC Group NV lifted its holdings 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Ready Capital by 12.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,682 shares of the real estate investment trust’s stock worth $326,000 after purchasing an additional 4,729 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in Ready Capital by 5.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 95,992 shares of the real estate investment trust’s stock worth $732,000 after acquiring an additional 4,775 shares during the last quarter. 55.87% of the stock is owned by institutional investors and hedge funds.

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.