Ready Capital Corp (NYSE:RC) Receives $3.55 Consensus PT from Analysts

by · The Markets Daily

Shares of Ready Capital Corp (NYSE:RC – Get Free Report) have received an average rating of “Reduce” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $3.55.

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

View Our Latest Stock Analysis on RC

Ready Capital Stock Up 5.6%

Ready Capital stock opened at $2.08 on Friday. The company has a 50-day simple moving average of $2.26 and a 200-day simple moving average of $3.15. Ready Capital has a one year low of $1.96 and a one year high of $7.03. The firm has a market capitalization of $337.23 million, a P/E ratio of -1.09 and a beta of 1.45. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.56 and a current ratio of 1.56.

Ready Capital (NYSE:RC – Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.96). Ready Capital had a negative net margin of 47.30% and a negative return on equity of 7.02%. The business had revenue of $85.43 million for the quarter, compared to the consensus estimate of $149.14 million. As a group, equities analysts expect that Ready Capital will post 0.93 earnings per share for the current year.

Ready Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, December 31st. Ready Capital’s dividend payout ratio is currently -2.09%.

Institutional Trading of Ready Capital

Several large investors have recently made changes to their positions in RC. Penserra Capital Management LLC boosted its stake in shares of Ready Capital by 61.8% in the 2nd quarter. Penserra Capital Management LLC now owns 244,788 shares of the real estate investment trust’s stock valued at $1,069,000 after purchasing an additional 93,477 shares during the last quarter. XTX Topco Ltd boosted its position in shares of Ready Capital by 153.0% during the second quarter. XTX Topco Ltd now owns 269,425 shares of the real estate investment trust’s stock worth $1,177,000 after purchasing an additional 162,936 shares in the last quarter. Robertson Stephens Wealth Management LLC grew its stake in Ready Capital by 18.6% in the second quarter. Robertson Stephens Wealth Management LLC now owns 46,148 shares of the real estate investment trust’s stock valued at $207,000 after acquiring an additional 7,248 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Ready Capital by 887.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 398,339 shares of the real estate investment trust’s stock valued at $1,741,000 after purchasing an additional 358,008 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Ready Capital by 9.0% in the second quarter. State of Alaska Department of Revenue now owns 101,786 shares of the real estate investment trust’s stock valued at $444,000 after buying an additional 8,404 shares during the period. Institutional investors own 55.87% of the company’s stock.

About Ready Capital

(Get Free Report)

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.

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