Ready Capital (NYSE:RC) Stock Price Up 3.8% – Time to Buy?

Ready Capital Co. (NYSE:RC)’s share price was up 3.8% on Monday . The stock traded as high as $4.99 and last traded at $5.03. Approximately 639,576 shares were traded during trading, a decline of 66% from the average daily volume of 1,891,700 shares. The stock had previously closed at $4.84.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RC shares. Citizens Jmp cut Ready Capital from an “outperform” rating to a “market perform” rating in a report on Monday, March 3rd. B. Riley reissued a “neutral” rating and set a $10.00 price target (down previously from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods dropped their price objective on shares of Ready Capital from $6.25 to $4.00 and set an “underperform” rating for the company in a report on Wednesday, March 5th. UBS Group decreased their target price on shares of Ready Capital from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Finally, Wedbush reissued a “neutral” rating and issued a $6.00 price target (down previously from $8.00) on shares of Ready Capital in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.50.

Ready Capital Trading Up 3.6 %

The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67. The firm has a market cap of $861.72 million, a PE ratio of -7.18 and a beta of 1.43. The company’s 50 day moving average price is $6.08 and its 200 day moving average price is $6.83.

Ready Capital Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 annualized dividend and a yield of 9.97%. Ready Capital’s payout ratio is -18.94%.

Insider Activity

In other news, CEO Thomas E. Capasse bought 10,000 shares of Ready Capital stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average price of $4.80 per share, with a total value of $48,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 319,925 shares in the company, valued at $1,535,640. The trade was a 3.23 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.09% of the company’s stock.

Institutional Investors Weigh In On Ready Capital

Large investors have recently modified their holdings of the company. Sterling Capital Management LLC increased its holdings in Ready Capital by 822.8% in the fourth quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 4,616 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Ready Capital by 3,075.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 6,150 shares during the last quarter. Avion Wealth acquired a new stake in shares of Ready Capital during the 4th quarter worth about $47,000. Ausdal Financial Partners Inc. acquired a new stake in shares of Ready Capital during the 4th quarter worth about $68,000. Finally, Proficio Capital Partners LLC purchased a new stake in Ready Capital during the fourth quarter worth approximately $69,000. 55.87% of the stock is owned by hedge funds and other institutional investors.

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.