Ready Capital Corp Announces Quarterly Dividend of $0.40 (NYSE:RC)

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Ready Capital Corp (NYSE:RC) announced a quarterly dividend on Tuesday, September 10th, NASDAQ reports. Investors of record on Monday, September 30th will be given a dividend of 0.40 per share by the real estate investment trust on Thursday, October 31st. This represents a $1.60 dividend on an annualized basis and a yield of 10.58%. The ex-dividend date is Friday, September 27th.

Ready Capital has a dividend payout ratio of 90.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Ready Capital to earn $1.74 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 92.0%.

Shares of NYSE:RC traded down $0.06 during trading on Thursday, hitting $15.13. 2,305 shares of the stock traded hands, compared to its average volume of 167,862. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.45. The company has a market cap of $669.78 million, a price-to-earnings ratio of 8.63 and a beta of 0.70. The company has a fifty day moving average price of $14.89 and a two-hundred day moving average price of $14.94. Ready Capital has a 52-week low of $13.44 and a 52-week high of $17.15.

Ready Capital (NYSE:RC) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. Ready Capital had a net margin of 30.47% and a return on equity of 8.40%. The business had revenue of $21.28 million during the quarter, compared to analyst estimates of $17.58 million. On average, equities research analysts predict that Ready Capital will post 1.56 EPS for the current fiscal year.

Several brokerages have recently weighed in on RC. Zacks Investment Research raised shares of Ready Capital from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Cantor Fitzgerald lowered their price target on shares of Ready Capital from $17.00 to $16.50 and set a “market outperform” rating on the stock in a research report on Tuesday, September 3rd. Finally, TheStreet raised shares of Ready Capital from a “c” rating to a “b-” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Ready Capital currently has an average rating of “Hold” and an average price target of $16.50.

About Ready Capital

Ready Capital Corporation operates as a real estate finance company in the United States. The company originates, acquires, finances, and services small balance commercial (SBC) loans, small business administration (SBA) loans, and residential mortgage loans, as well as mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.

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Dividend History for Ready Capital (NYSE:RC)

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