Ready Capital (NYSE:RC) Rating Increased to Hold at UBS Group

UBS Group upgraded shares of Ready Capital (NYSE:RC) to a hold rating in a research report released on Thursday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Zacks Research cut shares of Ready Capital from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Ready Capital in a report on Tuesday, June 2nd. Three research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $2.62.

Ready Capital Stock Performance

Shares of NYSE:RC opened at $1.55 on Thursday. The firm’s 50 day simple moving average is $1.72 and its 200-day simple moving average is $1.83. The firm has a market cap of $256.92 million, a PE ratio of -0.49 and a beta of 1.43. Ready Capital has a one year low of $1.50 and a one year high of $4.58. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.60 and a current ratio of 1.60.

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). The firm had revenue of $130.55 million during the quarter, compared to analysts’ expectations of $68.67 million. Ready Capital had a negative return on equity of 14.69% and a negative net margin of 102.10%. As a group, equities analysts predict that Ready Capital will post -0.94 EPS for the current year.

Ready Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, June 30th. Ready Capital’s dividend payout ratio is -1.26%.

Institutional Investors Weigh In On Ready Capital

A number of institutional investors have recently added to or reduced their stakes in the stock. CW Advisors LLC raised its holdings in Ready Capital by 11.6% in the 2nd quarter. CW Advisors LLC now owns 27,590 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 2,878 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Ready Capital by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 84,372 shares of the real estate investment trust’s stock valued at $369,000 after buying an additional 2,905 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Ready Capital by 29.0% in the 2nd quarter. Cerity Partners LLC now owns 15,220 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 3,419 shares during the last quarter. Samalin Investment Counsel LLC increased its stake in shares of Ready Capital by 52.1% in the 4th quarter. Samalin Investment Counsel LLC now owns 18,157 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 6,221 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Ready Capital by 65.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 17,226 shares of the real estate investment trust’s stock worth $75,000 after acquiring an additional 6,807 shares during the period. Institutional investors own 55.87% of the company’s stock.

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.