Ready Capital (NYSE:RC) Stock Price Passes Below 200 Day Moving Average – Time to Sell?

Ready Capital Corp (NYSE:RC)’s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.74 and traded as low as $1.6850. Ready Capital shares last traded at $1.7099, with a volume of 1,276,987 shares changing hands.

Analyst Upgrades and Downgrades

RC has been the subject of several research analyst reports. Zacks Research upgraded Ready Capital from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ready Capital in a report on Tuesday, June 2nd. Finally, UBS Group lowered their target price on Ready Capital from $2.50 to $2.00 and set a “neutral” rating for the company in a research report on Thursday, July 16th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $2.17.

Ready Capital Stock Up 3.8%

The company has a 50 day simple moving average of $1.65 and a two-hundred day simple moving average of $1.74. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $289.91 million, a P/E ratio of -0.51 and a beta of 1.45.

Ready Capital (NYSE:RC) last issued its quarterly earnings data on Thursday, August 6th. The real estate investment trust reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.01. The business had revenue of $151.87 million for the quarter, compared to the consensus estimate of $16.41 million. Ready Capital had a negative return on equity of 16.78% and a negative net margin of 131.76%. As a group, equities analysts predict that Ready Capital Corp will post -0.99 EPS for the current year.

Ready Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, June 30th. Ready Capital’s payout ratio is -1.15%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RC. Focus Partners Advisor Solutions LLC purchased a new position in Ready Capital during the 2nd quarter valued at $26,000. Sequoia Financial Advisors LLC purchased a new stake in Ready Capital in the fourth quarter worth $27,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Ready Capital during the fourth quarter worth $28,000. Public Employees Retirement System of Ohio bought a new stake in shares of Ready Capital during the second quarter worth $28,000. Finally, HBK Sorce Advisory LLC purchased a new stake in shares of Ready Capital during the second quarter valued at $30,000. Institutional investors own 55.87% of the company’s stock.

About Ready Capital

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.