Ready Capital (NYSE:RC) Posts Earnings Results

Ready Capital (NYSE:RC) issued its quarterly earnings data on Monday. The real estate investment trust reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02, Zacks reports. Ready Capital had a negative net margin of 11.65% and a positive return on equity of 7.53%.

Ready Capital Trading Up 2.1 %

Shares of RC opened at $6.95 on Monday. Ready Capital has a 1-year low of $6.39 and a 1-year high of $9.53. The company has a 50-day moving average of $6.83 and a 200 day moving average of $7.28. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -9.92 and a beta of 1.43. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67.

Ready Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 14.40%. Ready Capital’s payout ratio is -142.86%.

Analyst Ratings Changes

RC has been the subject of a number of recent research reports. JMP Securities dropped their price objective on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research note 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 research note on Friday, November 15th. B. Riley restated a “neutral” rating and issued a $10.00 target price (down previously from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods lowered their target price 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.61.

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.