Ready Capital Corp (NYSE:RC) Receives Consensus Rating of “Reduce” from Analysts

Shares of Ready Capital Corp (NYSE:RC) have been given a consensus rating of “Reduce” by the five research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $2.1667.

A number of equities research analysts recently commented on RC shares. UBS Group lowered their price objective on shares of Ready Capital from $2.50 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, July 16th. Zacks Research upgraded shares of Ready Capital from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ready Capital in a research note on Tuesday, June 2nd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. CW Advisors LLC increased its stake in shares of Ready Capital by 11.6% in the second quarter. CW Advisors LLC now owns 27,590 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 2,878 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Ready Capital by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 84,372 shares of the real estate investment trust’s stock worth $369,000 after acquiring an additional 2,905 shares in the last quarter. Cerity Partners LLC grew its holdings in Ready Capital by 29.0% during the 2nd quarter. Cerity Partners LLC now owns 15,220 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 3,419 shares in the last quarter. HB Wealth Management LLC increased its position in shares of Ready Capital by 44.2% in the 2nd quarter. HB Wealth Management LLC now owns 18,951 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 5,812 shares during the last quarter. Finally, Samalin Investment Counsel LLC increased its position in shares of Ready Capital by 52.1% in the 4th quarter. Samalin Investment Counsel LLC now owns 18,157 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 6,221 shares during the last quarter. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Ready Capital Trading Up 0.3%

Shares of Ready Capital stock opened at $1.89 on Thursday. 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’s 50-day simple moving average is $1.67 and its 200-day simple moving average is $1.73. The firm has a market cap of $311.38 million, a price-to-earnings ratio of -0.54 and a beta of 1.45. Ready Capital has a 52-week low of $1.39 and a 52-week high of $4.46.

Ready Capital (NYSE:RC) last posted its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.01. The firm 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 research analysts anticipate that Ready Capital will post -0.99 earnings per share for the current year.

Ready Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.04 annualized dividend and a yield of 2.1%. Ready Capital’s payout ratio is -1.15%.

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.