Ready Capital (NYSE:RC) Stock Passes Below 200-Day Moving Average – What’s Next?

Ready Capital Corp (NYSE:RC) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.72 and traded as low as $1.67. Ready Capital shares last traded at $1.6850, with a volume of 673,911 shares trading hands.

Analysts Set New Price Targets

Several analysts have commented on RC shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ready Capital in a research note on Friday, August 28th. Zacks Research raised Ready Capital from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, UBS Group decreased their target price on Ready Capital from $2.50 to $2.00 and set a “neutral” rating on the stock in a research report on Thursday, July 16th. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Ready Capital presently has a consensus rating of “Reduce” and a consensus target price of $2.17.

Ready Capital Price Performance

The firm’s 50-day moving average is $1.68 and its two-hundred day moving average is $1.72. The company has a market cap of $273.39 million, a P/E ratio of -0.48 and a beta of 1.48. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.91 and a quick ratio of 1.91.

Ready Capital (NYSE:RC) last released its quarterly earnings data on Thursday, August 6th. The real estate investment trust reported ($0.47) EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $16.41 million. Analysts anticipate that Ready Capital Corp will post -0.99 earnings per share for the current year.

Ready Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were issued a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.4%. Ready Capital’s dividend payout ratio (DPR) is presently -1.15%.

Institutional Investors Weigh In On Ready Capital

Several large investors have recently added to or reduced their stakes in RC. Focus Partners Advisor Solutions LLC bought a new stake in shares of Ready Capital in the 2nd quarter valued at approximately $26,000. Sequoia Financial Advisors LLC purchased a new position in shares of Ready Capital in the 4th quarter worth approximately $27,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Ready Capital during the 4th quarter valued at approximately $28,000. Public Employees Retirement System of Ohio bought a new position in shares of Ready Capital during the 2nd quarter valued at approximately $28,000. Finally, HBK Sorce Advisory LLC bought a new position in shares of Ready Capital during the 2nd quarter valued at approximately $30,000. 55.87% of the stock is owned by institutional investors.

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.