Zacks Investment Research downgraded shares of Ready Capital (NYSE:RC) from a buy rating to a hold rating in a research note released on Wednesday morning.

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, Keefe, Bruyette & Woods reaffirmed a hold rating and set a $15.50 price target on shares of Ready Capital in a research report on Tuesday, December 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Ready Capital has an average rating of Hold and a consensus target price of $17.14.

Shares of RC stock opened at $14.76 on Wednesday. Ready Capital has a 1-year low of $13.44 and a 1-year high of $17.30. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.59. The firm has a market cap of $475.80 million, a P/E ratio of 8.39 and a beta of 0.80.

Ready Capital (NYSE:RC) last announced its earnings results on Tuesday, March 12th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.09). Ready Capital had a return on equity of 10.24% and a net margin of 28.04%. The business had revenue of $14.96 million for the quarter, compared to analysts’ expectations of $16.78 million. On average, equities research analysts forecast that Ready Capital will post 1.81 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.60 dividend on an annualized basis and a yield of 10.84%. Ready Capital’s dividend payout ratio is currently 90.91%.

Ready Capital Company Profile

Ready Capital Corporation operates as a real estate finance company. The company acquires, originates, manages, services, and finances small balance commercial (SBC) loans, small business administration (SBA) loans, residential mortgage loans, and mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.

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