Zacks Investment Research upgraded shares of Ready Capital (NYSE:RC) from a sell rating to a hold rating in a research report released on Saturday morning, Zacks.com reports.

According to Zacks, “Ready Capital Corporation is a publicly-traded mortgage REIT and is externally managed by Waterfall Asset Management LLC. The company provides non-bank real estate and small business. It lends primarily to multifamily and commercial real estate, delivering value-add bridge loans and fixed rate financings for stabilized assets. The company approved Freddie Mac Small Balance Loan lender and provides residential mortgage lending through its wholly-owned subsidiary GMFS Inc. Ready Capital Corporation, formerly known as Sutherland Asset Management Corporation, is based in New York, United States. “

Several other research analysts have also recently commented on RC. B. Riley reiterated a buy rating and issued a $17.00 target price on shares of Ready Capital in a report on Thursday, December 5th. Sandler O’Neill raised shares of Ready Capital from a hold rating to a buy rating and set a $17.50 price target for the company in a research report on Monday, December 23rd. Finally, Compass Point lowered shares of Ready Capital from a buy rating to a neutral rating and set a $16.50 price target for the company. in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Ready Capital presently has an average rating of Hold and a consensus price target of $17.10.

Shares of RC opened at $15.63 on Friday. Ready Capital has a one year low of $14.30 and a one year high of $16.90. The company has a 50-day moving average of $15.52 and a two-hundred day moving average of $15.43. The stock has a market cap of $810.68 million, a price-to-earnings ratio of 8.88 and a beta of 0.66. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.37 and a quick ratio of 1.37.

Ready Capital (NYSE:RC) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). Ready Capital had a return on equity of 8.19% and a net margin of 26.39%. The firm had revenue of $20.33 million during the quarter, compared to analyst estimates of $20.75 million. Analysts anticipate that Ready Capital will post 1.55 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.24%. The ex-dividend date is Monday, December 30th. Ready Capital’s dividend payout ratio (DPR) is 90.91%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can raised its position in Ready Capital by 189.6% during the second quarter. Bank of Montreal Can now owns 4,008 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 2,624 shares in the last quarter. Metropolitan Life Insurance Co NY bought a new position in Ready Capital during the first quarter valued at approximately $90,000. Synovus Financial Corp raised its position in Ready Capital by 11.9% during the third quarter. Synovus Financial Corp now owns 5,901 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 629 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Ready Capital during the second quarter valued at approximately $131,000. Finally, Susquehanna International Group LLP bought a new position in Ready Capital during the second quarter valued at approximately $164,000. 40.62% of the stock is owned by institutional investors and hedge funds.

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.

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