Ready Capital Co. (NYSE:RC) Given Consensus Recommendation of “Hold” by Brokerages

Ready Capital Co. (NYSE:RC) has received an average rating of “Hold” from the six analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $10.93.

A number of research analysts have weighed in on the company. B. Riley reissued a “buy” rating and issued a $12.00 target price (down previously from $13.00) on shares of Ready Capital in a report on Monday, March 4th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 price target (down previously from $10.00) on shares of Ready Capital in a report on Monday, March 4th. BTIG Research dropped their target price on Ready Capital from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. UBS Group decreased their price target on Ready Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a research note on Wednesday, March 20th. Finally, StockNews.com lowered Ready Capital from a “buy” rating to a “hold” rating in a research report on Monday, March 4th.

Insider Activity

In other news, Director Kevin M. Luebbers purchased 5,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were acquired at an average cost of $8.43 per share, for a total transaction of $42,150.00. Following the acquisition, the director now owns 119,925 shares of the company’s stock, valued at $1,010,967.75. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Kevin M. Luebbers purchased 5,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were acquired at an average cost of $8.43 per share, for a total transaction of $42,150.00. Following the acquisition, the director now owns 119,925 shares of the company’s stock, valued at $1,010,967.75. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gilbert E. Nathan acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average cost of $8.65 per share, with a total value of $86,500.00. Following the completion of the transaction, the director now directly owns 83,099 shares in the company, valued at $718,806.35. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 17,150 shares of company stock worth $148,280. Corporate insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Ready Capital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Ready Capital by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 11,163,763 shares of the real estate investment trust’s stock worth $114,429,000 after buying an additional 735,949 shares during the last quarter. Waterfall Asset Management LLC purchased a new position in shares of Ready Capital during the 4th quarter valued at approximately $40,067,000. Northern Trust Corp grew its stake in Ready Capital by 0.4% in the 3rd quarter. Northern Trust Corp now owns 2,037,068 shares of the real estate investment trust’s stock valued at $20,595,000 after acquiring an additional 7,610 shares during the period. Invesco Ltd. grew its stake in Ready Capital by 4.2% in the 3rd quarter. Invesco Ltd. now owns 1,756,701 shares of the real estate investment trust’s stock valued at $17,760,000 after acquiring an additional 70,476 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Ready Capital by 0.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,593,919 shares of the real estate investment trust’s stock valued at $16,115,000 after acquiring an additional 7,769 shares during the period. 55.87% of the stock is owned by hedge funds and other institutional investors.

Ready Capital Stock Up 1.8 %

RC stock opened at $8.86 on Monday. Ready Capital has a fifty-two week low of $8.25 and a fifty-two week high of $11.97. The business’s 50-day moving average is $8.81 and its two-hundred day moving average is $9.59. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.89 and a current ratio of 1.89. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 3.72 and a beta of 1.40.

Ready Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 13.55%. The ex-dividend date is Wednesday, March 27th. Ready Capital’s payout ratio is 51.28%.

Ready Capital Company Profile

Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments.