Ready Capital Co. (NYSE:RC) Receives $8.61 Average Price Target from Brokerages

Shares of Ready Capital Co. (NYSE:RC) have been assigned an average recommendation of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $8.61.

Several equities research analysts have issued reports on RC shares. JMP Securities lowered their price target on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a report on Thursday, December 12th. B. Riley restated a “neutral” rating and set a $10.00 target price (down from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. UBS Group decreased their target price on Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Friday, November 15th. Finally, Keefe, Bruyette & Woods reduced their price target on Ready Capital from $6.75 to $6.25 and set an “underperform” rating for the company in a research note on Tuesday, January 14th.

Ready Capital Stock Down 0.1 %

NYSE RC opened at $6.82 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. The stock has a market capitalization of $1.15 billion, a P/E ratio of -9.74 and a beta of 1.43. The stock has a fifty day moving average of $7.12 and a 200-day moving average of $7.67. Ready Capital has a 52 week low of $6.45 and a 52 week high of $9.96.

Ready Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 14.67%. The ex-dividend date is Tuesday, December 31st. Ready Capital’s dividend payout ratio is currently -142.86%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Clear Harbor Asset Management LLC lifted its position in Ready Capital by 84.0% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 1,440,250 shares of the real estate investment trust’s stock valued at $10,989,000 after acquiring an additional 657,465 shares during the period. Wolverine Asset Management LLC increased its holdings in shares of Ready Capital by 2,902.2% in the 3rd quarter. Wolverine Asset Management LLC now owns 402,291 shares of the real estate investment trust’s stock worth $3,069,000 after purchasing an additional 388,891 shares in the last quarter. Barclays PLC raised its holdings in shares of Ready Capital by 205.9% during the third quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust’s stock valued at $3,699,000 after purchasing an additional 326,467 shares during the last quarter. State Street Corp increased its position in Ready Capital by 4.8% during the third quarter. State Street Corp now owns 6,315,147 shares of the real estate investment trust’s stock valued at $49,746,000 after acquiring an additional 287,068 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in Ready Capital by 99.5% during the third quarter. Advisors Asset Management Inc. now owns 399,401 shares of the real estate investment trust’s stock valued at $3,047,000 after buying an additional 199,202 shares during the period. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Ready Capital Company Profile

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.