Ready Capital Corp (NYSE:RC) Declares $0.01 Quarterly Dividend

Ready Capital Corp (NYSE:RC) announced a quarterly dividend on Monday, June 15th. Investors of record on Tuesday, June 30th will be paid a dividend of 0.01 per share by the real estate investment trust on Friday, July 31st. This represents a c) annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, June 30th.

Ready Capital has decreased its dividend payment by an average of 0.2%annually over the last three years. Ready Capital has a dividend payout ratio of 7.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ready Capital to earn ($0.38) per share next year, which means the company may not be able to cover its $0.04 annual dividend with an expected future payout ratio of -10.5%.

Ready Capital Price Performance

Shares of NYSE RC opened at $1.73 on Tuesday. The firm has a market cap of $285.00 million, a PE ratio of -0.54 and a beta of 1.44. The firm has a fifty day moving average of $1.77 and a 200 day moving average of $1.95. 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 has a one year low of $1.50 and a one year high of $4.75.

Ready Capital (NYSE:RC) last issued its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.18). The company 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, research analysts predict that Ready Capital will post -0.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RC has been the subject of several recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Ready Capital in a report on Tuesday, June 2nd. Piper Sandler cut their price target on shares of Ready Capital from $2.50 to $2.00 and set a “neutral” rating for the company in a report on Monday, March 2nd. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $2.81.

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.