Ready Capital Corp (NYSE:RC) declared a quarterly dividend on Tuesday, June 11th, NASDAQ reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.40 per share by the real estate investment trust on Wednesday, July 31st. This represents a $1.60 annualized dividend and a yield of 10.58%. The ex-dividend date is Thursday, June 27th.

Ready Capital has a payout ratio of 90.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Ready Capital to earn $1.83 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 87.4%.

RC stock opened at $15.12 on Wednesday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.44. Ready Capital has a 12 month low of $13.44 and a 12 month high of $17.30. The company has a market cap of $670.81 million, a price-to-earnings ratio of 8.59 and a beta of 0.77. The firm has a 50-day moving average price of $14.84.

Ready Capital (NYSE:RC) last posted its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.08). Ready Capital had a net margin of 31.79% and a return on equity of 8.73%. The company had revenue of $12.98 million during the quarter, compared to analyst estimates of $15.00 million. As a group, equities research analysts forecast that Ready Capital will post 1.59 EPS for the current fiscal year.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Ready Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. ValuEngine downgraded shares of Ready Capital from a “hold” rating to a “sell” rating in a research note on Saturday, April 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $17.08.

In other Ready Capital news, Director Todd M. Sinai bought 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were acquired at an average cost of $14.74 per share, for a total transaction of $51,590.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.83% of the stock is owned by company insiders.

Ready Capital Company Profile

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

Further Reading: Current Ratio

Dividend History for Ready Capital (NYSE:RC)

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