Ready Capital Corp (NYSE:RC) Given Average Rating of “Reduce” by Brokerages

Shares of Ready Capital Corp (NYSE:RC) have received a consensus rating of “Reduce” from the eight research firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $3.55.

Several brokerages have recently issued reports on RC. UBS Group decreased their price objective on Ready Capital from $3.50 to $2.75 and set a “neutral” rating on the stock in a report on Friday, November 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ready Capital in a research report on Thursday, January 22nd. Zacks Research raised shares of Ready Capital from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Keefe, Bruyette & Woods decreased their target price on shares of Ready Capital from $3.50 to $2.50 and set an “underperform” rating on the stock in a research report on Wednesday, November 12th. Finally, Piper Sandler lowered their price target on shares of Ready Capital from $3.50 to $2.50 and set a “neutral” rating for the company in a report on Monday, December 22nd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Invesco Ltd. raised its stake in shares of Ready Capital by 21.2% in the third quarter. Invesco Ltd. now owns 4,239,678 shares of the real estate investment trust’s stock valued at $16,408,000 after acquiring an additional 742,226 shares during the period. Geode Capital Management LLC grew its holdings in Ready Capital by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 4,023,581 shares of the real estate investment trust’s stock valued at $17,585,000 after purchasing an additional 58,899 shares during the last quarter. UBS Group AG raised its position in Ready Capital by 161.4% in the 4th quarter. UBS Group AG now owns 3,155,403 shares of the real estate investment trust’s stock worth $6,879,000 after purchasing an additional 1,948,208 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Ready Capital by 7.5% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,069,769 shares of the real estate investment trust’s stock worth $8,010,000 after purchasing an additional 145,002 shares during the last quarter. Finally, Private Management Group Inc. boosted its position in shares of Ready Capital by 0.6% during the second quarter. Private Management Group Inc. now owns 1,626,817 shares of the real estate investment trust’s stock valued at $7,109,000 after buying an additional 8,924 shares during the period. 55.87% of the stock is owned by hedge funds and other institutional investors.

Ready Capital Stock Performance

Shares of NYSE RC opened at $1.97 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market cap of $318.59 million, a P/E ratio of -1.03 and a beta of 1.45. The firm’s fifty day moving average is $2.27 and its two-hundred day moving average is $3.17. Ready Capital has a 52-week low of $1.96 and a 52-week high of $7.03.

Ready Capital (NYSE:RC) last released its quarterly earnings data on Thursday, November 6th. The real estate investment trust reported ($0.94) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.96). The company had revenue of $85.43 million for the quarter, compared to the consensus estimate of $149.14 million. Ready Capital had a negative net margin of 47.30% and a negative return on equity of 7.02%. As a group, analysts anticipate that Ready Capital will post 0.93 EPS for the current fiscal year.

Ready Capital Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.04 annualized dividend and a dividend yield of 2.0%. Ready Capital’s payout ratio is currently -2.09%.

Ready Capital Company Profile

Ready Capital Corporation is a specialty finance real estate investment trust (REIT) that originates, acquires and manages commercial real estate loans and related assets. The company offers financing solutions across a variety of property types, including multifamily, office, retail, industrial, hospitality and mixed-use assets. Ready Capital focuses on delivering flexible loan structures to meet the diverse needs of borrowers in the small balance and middle-market sectors.

Through its small balance commercial real estate lending platform, Ready Capital provides loans typically ranging from $1 million to $15 million for acquisitions, refinancings, renovations and bridge financing.