Ready Capital (NYSE:RC) Cut to Market Perform at Citizens Jmp

Citizens Jmp downgraded shares of Ready Capital (NYSE:RC) from an outperform rating to a market perform rating in a report published on Monday, MarketBeat.com reports.

RC has been the topic of several other reports. JMP Securities decreased their price target on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a research note on Thursday, December 12th. UBS Group cut their price objective on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Friday, November 15th. Keefe, Bruyette & Woods cut their price objective on shares of Ready Capital from $6.75 to $6.25 and set an “underperform” rating for the company in a research report on Tuesday, January 14th. Finally, B. Riley reaffirmed a “neutral” rating and set a $10.00 price objective (down previously from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.86.

Ready Capital Trading Up 0.1 %

RC stock opened at $4.96 on Monday. 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 company’s 50-day simple moving average is $6.73 and its 200 day simple moving average is $7.23. Ready Capital has a 52 week low of $4.74 and a 52 week high of $9.53. The company has a market capitalization of $835.07 million, a PE ratio of -7.08 and a beta of 1.43.

Ready Capital Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 10.09%. Ready Capital’s dividend payout ratio (DPR) is currently -142.86%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RC. Vanguard Group Inc. increased its stake in shares of Ready Capital by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 11,366,828 shares of the real estate investment trust’s stock valued at $77,522,000 after buying an additional 768,891 shares during the period. Hudson Bay Capital Management LP acquired a new position in shares of Ready Capital in the fourth quarter valued at approximately $4,393,000. Charles Schwab Investment Management Inc. increased its stake in shares of Ready Capital by 21.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,266,585 shares of the real estate investment trust’s stock valued at $15,458,000 after buying an additional 398,005 shares during the period. Wolverine Asset Management LLC increased its stake in shares of Ready Capital by 2,902.2% in the third quarter. Wolverine Asset Management LLC now owns 402,291 shares of the real estate investment trust’s stock valued at $3,069,000 after buying an additional 388,891 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Ready Capital by 3,049.5% in the fourth quarter. Marshall Wace LLP now owns 392,559 shares of the real estate investment trust’s stock valued at $2,677,000 after buying an additional 380,095 shares during the period. 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.