Ready Capital (NYSE:RC) Lowered to “Neutral” at Compass Point

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Compass Point downgraded shares of Ready Capital (NYSE:RC) from a buy rating to a neutral rating in a research note published on Friday morning, Briefing.com Automated Import reports. They currently have $16.50 price target on the real estate investment trust’s stock.

RC has been the topic of several other reports. Zacks Investment Research lowered shares of Ready Capital from a buy rating to a hold rating in a research report on Tuesday, October 22nd. Cantor Fitzgerald decreased their target price 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 upgraded shares of Ready Capital from a c rating to a b- rating in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Ready Capital currently has an average rating of Hold and a consensus target price of $16.63.

Shares of NYSE:RC traded down $0.26 on Friday, hitting $15.86. 151,952 shares of the company were exchanged, compared to its average volume of 168,587. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.41 and a current ratio of 1.41. The company’s 50 day moving average price is $16.00 and its two-hundred day moving average price is $15.21. Ready Capital has a one year low of $13.44 and a one year high of $16.55. The firm has a market capitalization of $727.01 million, a price-to-earnings ratio of 9.01 and a beta of 0.68.

Ready Capital (NYSE:RC) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.41 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 $20.33 million for the quarter, compared to analyst estimates of $20.75 million. Research analysts predict that Ready Capital will post 1.56 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a $0.40 dividend. The ex-dividend date was Friday, September 27th. This represents a $1.60 dividend on an annualized basis and a yield of 10.09%. Ready Capital’s dividend payout ratio (DPR) is presently 90.91%.

Large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ready Capital by 561.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,094 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 2,626 shares in the last quarter. Bank of Montreal Can boosted its position in Ready Capital by 189.6% in the second quarter. Bank of Montreal Can now owns 4,008 shares of the real estate investment trust’s stock valued at $60,000 after buying an additional 2,624 shares in the last quarter. Motco acquired a new position in Ready Capital in the second quarter valued at about $65,000. BNP Paribas Arbitrage SA acquired a new position in Ready Capital in the second quarter valued at about $68,000. Finally, Synovus Financial Corp boosted its position in Ready Capital by 11.9% in the third quarter. Synovus Financial Corp now owns 5,901 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 629 shares in the last quarter. Hedge funds and other institutional investors own 37.72% of the company’s stock.

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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