Ready Capital Corp (NYSE:RC) Receives $2.81 Average Price Target from Brokerages

Ready Capital Corp (NYSE:RC) has been given a consensus recommendation of “Reduce” by the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $2.8125.

Several brokerages have weighed in on RC. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ready Capital in a report on Tuesday, June 2nd. Piper Sandler lowered their target price on Ready Capital from $2.50 to $2.00 and set a “neutral” rating for the company in a report on Monday, March 2nd.

Ready Capital Price Performance

Shares of RC stock opened at $1.67 on Friday. Ready Capital has a twelve month low of $1.50 and a twelve month high of $4.75. The stock has a market capitalization of $275.09 million, a price-to-earnings ratio of -0.52 and a beta of 1.44. The stock has a fifty day simple moving average of $1.76 and a two-hundred day simple moving average of $1.97. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.95.

Ready Capital (NYSE:RC) last issued its earnings results on Thursday, May 7th. The real estate investment trust reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.18). Ready Capital had a negative return on equity of 14.69% and a negative net margin of 102.10%.The firm had revenue of $130.55 million during the quarter, compared to analysts’ expectations of $68.67 million. On average, analysts predict that Ready Capital will post -0.94 EPS for the current fiscal year.

Ready Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, March 31st. Ready Capital’s dividend payout ratio is currently -1.26%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Huntington National Bank raised its position in shares of Ready Capital by 234.6% in the 3rd quarter. Huntington National Bank now owns 8,749 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 6,134 shares in the last quarter. Quarry LP raised its position in shares of Ready Capital by 4,494.6% in the 3rd quarter. Quarry LP now owns 9,373 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 9,169 shares in the last quarter. Ausdal Financial Partners Inc. bought a new position in shares of Ready Capital in the 3rd quarter worth $39,000. Franklin Resources Inc. bought a new position in shares of Ready Capital in the 3rd quarter worth $44,000. Finally, M&T Bank Corp bought a new position in shares of Ready Capital in the 2nd quarter worth $50,000. 55.87% of the stock is owned by institutional investors.

Ready Capital Company Profile

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.