Ready Capital (NYSE:RC) Issues Quarterly Earnings Results

Ready Capital (NYSE:RC) released its earnings results on Thursday. The real estate investment trust reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.11), FiscalAI reports. The company had revenue of $25.33 million during the quarter, compared to analysts’ expectations of $23.10 million. Ready Capital had a negative return on equity of 8.91% and a negative net margin of 163.95%.

Ready Capital Price Performance

RC stock traded down $0.20 during trading on Friday, hitting $0.87. The company had a trading volume of 7,556,149 shares, compared to its average volume of 1,703,971. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.91 and a current ratio of 1.91. Ready Capital has a 12 month low of $0.85 and a 12 month high of $2.98. The firm has a 50-day moving average price of $1.34 and a 200-day moving average price of $1.66.

Ready Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 4.6%. Ready Capital’s payout ratio is currently -1.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on RC shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ready Capital in a report on Friday, August 28th. Piper Sandler cut their target price on Ready Capital from $2.00 to $1.25 and set a “neutral” rating on the stock in a report on Friday, October 9th. Zacks Research raised Ready Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Keefe, Bruyette & Woods reduced their price target on Ready Capital from $1.40 to $1.25 and set an “underperform” rating for the company in a research report on Friday, October 9th. Finally, UBS Group decreased their price target on Ready Capital from $2.50 to $2.00 and set a “neutral” rating for the company in a research note on Thursday, July 16th. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $1.50.

Ready Capital Company Profile

Ready Capital Corporation (NYSE: RC) is a real estate finance company that operates as a mortgage real estate investment trust. The company provides financing to owners, operators and developers of commercial real estate, with a focus on small- to mid-sized properties and borrowers that may not be served by traditional banks.

Ready Capital originates, acquires, finances and services a range of commercial real estate loans. Its offerings have included bridge loans, construction loans, loans secured by transitional properties, multifamily financing and small business administration (SBA) loans.