Ready Capital Co. (NYSE:RC) – Research analysts at Piper Sandler boosted their Q2 2022 earnings estimates for shares of Ready Capital in a note issued to investors on Monday, April 12th. Piper Sandler analyst C. Love now anticipates that the real estate investment trust will post earnings of $0.35 per share for the quarter, up from their previous estimate of $0.34. Piper Sandler also issued estimates for Ready Capital’s Q3 2022 earnings at $0.34 EPS.
Ready Capital (NYSE:RC) last posted its quarterly earnings data on Wednesday, March 10th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.10. Ready Capital had a return on equity of 11.15% and a net margin of 14.86%.
Ready Capital stock opened at $14.08 on Tuesday. Ready Capital has a twelve month low of $4.32 and a twelve month high of $15.48. The stock has a 50 day moving average of $13.81 and a two-hundred day moving average of $12.63. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $766.44 million, a price-to-earnings ratio of 20.11 and a beta of 1.08.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its stake in Ready Capital by 24.1% in the 1st quarter. State of Alaska Department of Revenue now owns 39,448 shares of the real estate investment trust’s stock valued at $529,000 after purchasing an additional 7,650 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Ready Capital by 17.0% in the 4th quarter. UBS Asset Management Americas Inc. now owns 42,853 shares of the real estate investment trust’s stock valued at $534,000 after purchasing an additional 6,239 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Ready Capital by 118.3% in the 4th quarter. JPMorgan Chase & Co. now owns 311,299 shares of the real estate investment trust’s stock valued at $3,876,000 after purchasing an additional 168,700 shares in the last quarter. Jane Street Group LLC purchased a new position in Ready Capital in the 4th quarter valued at approximately $201,000. Finally, Zacks Investment Management increased its stake in Ready Capital by 100.5% in the 4th quarter. Zacks Investment Management now owns 89,099 shares of the real estate investment trust’s stock valued at $1,109,000 after purchasing an additional 44,661 shares in the last quarter. 45.84% of the stock is owned by hedge funds and other institutional investors.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Stockholders of record on Monday, April 5th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Thursday, April 1st. Ready Capital’s dividend payout ratio (DPR) is 25.97%.
About Ready Capital
Ready Capital Corporation, together with its subsidiaries, operates as a real estate finance company in the United States. The company originates, acquires, finances, and services small balance commercial (SBC) loans, small business administration (SBA) loans, and residential mortgage loans, as well as mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.
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