Ready Capital Co. (NYSE:RC - Get Free Report) has been assigned an average rating of "Hold" from the seven brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $9.65.
A number of research firms recently issued reports on RC. Keefe, Bruyette & Woods lowered their target price on Ready Capital from $8.00 to $7.75 and set an "underperform" rating for the company in a research note on Monday, August 12th. BTIG Research assumed coverage on Ready Capital in a research report on Friday, July 19th. They set a "neutral" rating for the company. LADENBURG THALM/SH SH downgraded Ready Capital from a "buy" rating to a "neutral" rating in a research report on Friday, May 10th. Finally, Wedbush reaffirmed a "neutral" rating and set a $9.00 price target on shares of Ready Capital in a research report on Monday, August 12th.
View Our Latest Stock Analysis on Ready Capital
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. CWM LLC increased its position in shares of Ready Capital by 94.6% in the second quarter. CWM LLC now owns 3,361 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 1,634 shares during the period. EdgeRock Capital LLC bought a new position in shares of Ready Capital in the fourth quarter worth $36,000. EntryPoint Capital LLC bought a new position in shares of Ready Capital in the first quarter worth $40,000. MCF Advisors LLC bought a new position in shares of Ready Capital in the first quarter worth $42,000. Finally, Naviter Wealth LLC bought a new position in shares of Ready Capital in the first quarter worth $94,000. Institutional investors own 55.87% of the company's stock.
Ready Capital Trading Up 0.5 %
Shares of RC stock traded up $0.04 on Friday, reaching $8.44. The company had a trading volume of 3,192,593 shares, compared to its average volume of 1,613,548. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.52. The stock has a market cap of $1.42 billion, a PE ratio of 5.24 and a beta of 1.43. The company has a 50-day moving average of $8.72 and a 200-day moving average of $8.70. Ready Capital has a 12 month low of $7.93 and a 12 month high of $11.67.
Ready Capital (NYSE:RC - Get Free Report) last posted its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.19). Ready Capital had a positive return on equity of 7.32% and a negative net margin of 5.67%. The business had revenue of $234.12 million for the quarter, compared to the consensus estimate of $61.77 million. During the same period in the previous year, the company posted $0.35 earnings per share. On average, equities analysts forecast that Ready Capital will post 1.03 earnings per share for the current year.
Ready Capital Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 14.22%. The ex-dividend date was Friday, June 28th. Ready Capital's dividend payout ratio is 74.53%.
Ready Capital Company Profile
(Get Free Report
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.
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