Zacks Investment Research Upgrades Ready Capital (NYSE:RC) to “Hold”

Zacks Investment Research upgraded shares of Ready Capital (NYSE:RC) from a sell rating to a hold rating in a research note released on Thursday, Zacks.com reports.

According to Zacks, “Ready Capital Corporation is a publicly-traded mortgage REIT and is externally managed by Waterfall Asset Management LLC. The company provides non-bank real estate and small business. It lends primarily to multifamily and commercial real estate, delivering value-add bridge loans and fixed rate financings for stabilized assets. The company approved Freddie Mac Small Balance Loan lender and provides residential mortgage lending through its wholly-owned subsidiary GMFS Inc. Ready Capital Corporation, formerly known as Sutherland Asset Management Corporation, is based in New York, United States. “

Separately, ValuEngine raised Yandex from a hold rating to a buy rating in a research note on Saturday, April 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $17.08.

NYSE RC opened at $15.00 on Thursday. The stock has a market cap of $665.92 million, a PE ratio of 8.52 and a beta of 0.76. The company’s 50 day moving average price is $14.95. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.63 and a quick ratio of 1.63. Ready Capital has a 1-year low of $13.44 and a 1-year high of $17.30.

Ready Capital (NYSE:RC) last released its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.08). The firm had revenue of $12.98 million for the quarter, compared to analysts’ expectations of $15.00 million. Ready Capital had a net margin of 31.79% and a return on equity of 8.73%. Equities analysts predict that Ready Capital will post 1.59 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 10.67%. The ex-dividend date of this dividend is Thursday, June 27th. Ready Capital’s dividend payout ratio (DPR) is presently 90.91%.

In other news, Director Todd M. Sinai bought 3,500 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was acquired at an average cost of $14.74 per share, with a total value of $51,590.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.83% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC acquired a new position in shares of Ready Capital in the 1st quarter valued at about $29,000. Quantamental Technologies LLC acquired a new position in shares of Ready Capital in the 1st quarter valued at about $32,000. Gemmer Asset Management LLC acquired a new position in shares of Ready Capital in the 1st quarter valued at about $40,000. Strs Ohio acquired a new position in shares of Ready Capital in the 1st quarter valued at about $71,000. Finally, Synovus Financial Corp acquired a new position in shares of Ready Capital in the 1st quarter valued at about $77,000. Institutional investors and hedge funds own 36.94% of the company’s stock.

About Ready Capital

Ready Capital Corporation 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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