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

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

RC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lowered their price target on Ready Capital from $6.75 to $6.25 and set an “underperform” rating for the company in a research report on Tuesday, January 14th. UBS Group lowered their price target on Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Friday, November 15th. 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 research report on Thursday, December 12th. Finally, B. Riley restated a “neutral” rating and issued a $10.00 price objective (down previously from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th.

Ready Capital Trading Down 2.4 %

NYSE RC opened at $6.73 on Friday. The firm has a market capitalization of $1.13 billion, a P/E ratio of -9.61 and a beta of 1.43. The business has a fifty day simple moving average of $6.87 and a 200 day simple moving average of $7.34. Ready Capital has a 12 month low of $6.39 and a 12 month high of $9.53. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54.

Ready Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 14.87%. The ex-dividend date was Tuesday, December 31st. Ready Capital’s dividend payout ratio (DPR) is -142.86%.

Institutional Trading of Ready Capital

A number of large investors have recently bought and sold shares of RC. Vanguard Group Inc. increased its holdings in Ready Capital by 7.3% in the 4th quarter. Vanguard Group Inc. now owns 11,366,828 shares of the real estate investment trust’s stock worth $77,522,000 after acquiring an additional 768,891 shares during the last quarter. State Street Corp boosted 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 worth $49,746,000 after purchasing an additional 287,068 shares during the period. Geode Capital Management LLC boosted its position in Ready Capital by 4.1% during the third quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust’s stock worth $29,292,000 after purchasing an additional 150,479 shares during the period. Invesco Ltd. boosted its position in Ready Capital by 6.8% during the fourth quarter. Invesco Ltd. now owns 3,116,019 shares of the real estate investment trust’s stock worth $21,251,000 after purchasing an additional 197,770 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Ready Capital by 21.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,266,585 shares of the real estate investment trust’s stock worth $15,458,000 after purchasing an additional 398,005 shares during the period. 55.87% of the stock is owned by hedge funds and other institutional investors.

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.