Ready Capital Co. (NYSE:RC) Receives $10.93 Average PT from Analysts

Shares of Ready Capital Co. (NYSE:RCGet Free Report) have earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $10.93.

A number of brokerages recently weighed in on RC. B. Riley restated a “buy” rating and set a $12.00 target price (down previously from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. StockNews.com lowered Ready Capital from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. BTIG Research decreased their target price on Ready Capital from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. LADENBURG THALM/SH SH downgraded Ready Capital from a “buy” rating to a “neutral” rating in a research note on Friday, May 10th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $8.00 target price (down from $10.00) on shares of Ready Capital in a research report on Monday, March 4th.

Read Our Latest Analysis on RC

Insider Activity at Ready Capital

In related news, Director Gilbert E. Nathan bought 10,000 shares of Ready Capital stock in a transaction dated Friday, May 24th. The shares were acquired at an average cost of $8.29 per share, with a total value of $82,900.00. Following the completion of the transaction, the director now owns 95,249 shares in the company, valued at approximately $789,614.21. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ready Capital

A number of institutional investors and hedge funds have recently bought and sold shares of RC. B. Riley Wealth Advisors Inc. grew its position in shares of Ready Capital by 12.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 12,970 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 1,455 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Ready Capital by 15.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,553 shares of the real estate investment trust’s stock worth $117,000 after acquiring an additional 1,527 shares in the last quarter. Texas Permanent School Fund Corp increased its position in Ready Capital by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 138,085 shares of the real estate investment trust’s stock valued at $1,261,000 after purchasing an additional 1,718 shares during the period. Illinois Municipal Retirement Fund raised its holdings in shares of Ready Capital by 2.1% in the 1st quarter. Illinois Municipal Retirement Fund now owns 95,051 shares of the real estate investment trust’s stock valued at $868,000 after purchasing an additional 1,992 shares in the last quarter. Finally, Wolverine Asset Management LLC lifted its position in shares of Ready Capital by 23.2% in the 3rd quarter. Wolverine Asset Management LLC now owns 10,605 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 2,000 shares during the period. 55.87% of the stock is owned by institutional investors.

Ready Capital Stock Performance

Shares of NYSE RC opened at $8.55 on Tuesday. The stock has a market cap of $1.44 billion, a PE ratio of 5.31 and a beta of 1.42. Ready Capital has a 1 year low of $7.93 and a 1 year high of $11.97. The firm has a fifty day moving average price of $8.50 and a 200-day moving average price of $9.21. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.76.

Ready Capital (NYSE:RCGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The business had revenue of $232.35 million for the quarter, compared to the consensus estimate of $64.34 million. Ready Capital had a return on equity of 8.11% and a net margin of 23.81%. During the same period in the previous year, the business earned $0.31 earnings per share. Equities analysts anticipate that Ready Capital will post 1.17 earnings per share for the current fiscal year.

Ready Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 14.04%. The ex-dividend date is Friday, June 28th. Ready Capital’s payout ratio is presently 74.53%.

About Ready Capital

(Get Free Report

Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments.

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Analyst Recommendations for Ready Capital (NYSE:RC)

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