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

Shares of Ready Capital Co. (NYSE:RC) have been assigned an average recommendation of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $10.93.

RC has been the subject of several recent analyst reports. LADENBURG THALM/SH SH cut Ready Capital from a “buy” rating to a “neutral” rating in a research note on Friday, May 10th. BTIG Research started coverage on Ready Capital in a research report on Friday, July 19th. They set a “neutral” rating for the company.

Insider Buying and Selling at Ready Capital

In other Ready Capital news, Director Gilbert E. Nathan acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average price of $8.29 per share, for a total transaction of $82,900.00. Following the completion of the acquisition, the director now owns 95,249 shares of the company’s stock, valued at approximately $789,614.21. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC raised its holdings in shares of Ready Capital by 94.6% in the 2nd quarter. CWM LLC now owns 3,361 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 1,634 shares in the last quarter. Bear Mountain Capital Inc. purchased a new position in Ready Capital during the 4th quarter worth $30,000. EdgeRock Capital LLC acquired a new stake in Ready Capital during the 4th quarter worth approximately $36,000. EntryPoint Capital LLC acquired a new stake in shares of Ready Capital during the first quarter worth $40,000. Finally, MCF Advisors LLC acquired a new stake in shares of Ready Capital in the 1st quarter worth $42,000. 55.87% of the stock is owned by institutional investors and hedge funds.

Ready Capital Price Performance

Shares of RC stock opened at $8.79 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.76. The company has a market capitalization of $1.48 billion, a PE ratio of 5.46 and a beta of 1.43. The firm’s 50-day moving average is $8.66 and its two-hundred day moving average is $8.80. Ready Capital has a 12 month low of $7.93 and a 12 month high of $11.67.

Ready Capital (NYSE:RC) last released its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. Ready Capital had a net margin of 23.81% and a return on equity of 8.11%. The firm had revenue of $232.35 million for the quarter, compared to analyst estimates of $64.34 million. During the same quarter in the previous year, the company earned $0.31 EPS. Analysts predict that Ready Capital will post 1.17 earnings per share for the current year.

Ready Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 13.65%. The ex-dividend date of this dividend was Friday, June 28th. Ready Capital’s payout ratio is 74.53%.

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.