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

Ready Capital Corp (NYSE:RC) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.83 and traded as low as $1.6350. Ready Capital shares last traded at $1.6450, with a volume of 1,568,371 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Zacks Research cut Ready Capital from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. UBS Group cut their target price on Ready Capital from $2.50 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Ready Capital in a report on Tuesday, June 2nd. Three analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Ready Capital presently has an average rating of “Reduce” and an average target price of $2.62.

Ready Capital Stock Performance

The business’s fifty day moving average price is $1.72 and its 200-day moving average price is $1.83. The stock has a market cap of $256.92 million, a PE ratio of -0.49 and a beta of 1.43. 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 released its quarterly earnings data 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 company had revenue of $130.55 million for the quarter, compared to analysts’ expectations of $68.67 million. Ready Capital had a negative net margin of 102.10% and a negative return on equity of 14.69%. As a group, equities research analysts forecast that Ready Capital Corp will post -0.94 EPS for the current fiscal year.

Ready Capital Announces Dividend

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

Institutional Trading of Ready Capital

Several large investors have recently modified their holdings of RC. UBS Group AG grew its position in Ready Capital by 161.4% during the fourth quarter. UBS Group AG now owns 3,155,403 shares of the real estate investment trust’s stock valued at $6,879,000 after buying an additional 1,948,208 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in Ready Capital during the fourth quarter valued at approximately $27,000. Samalin Investment Counsel LLC raised its position in Ready Capital by 52.1% in the fourth 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 period. Kestra Private Wealth Services LLC bought a new position in Ready Capital in the fourth quarter worth approximately $99,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Ready Capital by 135.1% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 82,410 shares of the real estate investment trust’s stock worth $180,000 after acquiring an additional 47,350 shares during the last quarter. Institutional investors own 55.87% of the company’s stock.

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.