Ready Capital Corp (NYSE:RC) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Ready Capital Corp (NYSE:RC) have received a consensus recommendation of “Reduce” from the five ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $2.1667.

RC has been the topic of several research analyst reports. 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 report on Thursday, July 16th. Zacks Research upgraded 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 report on Tuesday, June 2nd.

Hedge Funds Weigh In On Ready Capital

Institutional investors and hedge funds have recently bought and sold shares of the business. Focus Partners Advisor Solutions LLC acquired a new position in shares of Ready Capital in the 2nd quarter valued at about $26,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Ready Capital during the fourth quarter worth approximately $27,000. Eurizon Capital SGR S.p.A. purchased a new position in Ready Capital during the fourth quarter valued at approximately $28,000. Public Employees Retirement System of Ohio purchased a new position in Ready Capital during the second quarter valued at approximately $28,000. Finally, HBK Sorce Advisory LLC purchased a new position in Ready Capital during the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Ready Capital Price Performance

RC stock opened at $1.84 on Thursday. Ready Capital has a one year low of $1.39 and a one year high of $4.46. The firm has a 50-day moving average of $1.67 and a two-hundred day moving average of $1.73. The firm has a market capitalization of $304.78 million, a PE ratio of -0.53 and a beta of 1.45. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.97.

Ready Capital (NYSE:RC) last released its earnings results on Thursday, August 6th. The real estate investment trust reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.01. Ready Capital had a negative net margin of 131.76% and a negative return on equity of 16.78%. The business had revenue of $151.87 million for the quarter, compared to the consensus estimate of $16.41 million. On average, analysts forecast that Ready Capital will post -0.99 earnings per share for the current year.

Ready Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, June 30th. Ready Capital’s dividend payout ratio is currently -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.