Analysts Set Ready Capital Co. (NYSE:RC) Price Target at $10.93

Shares of Ready Capital Co. (NYSE:RC) have been assigned a consensus rating of “Hold” from the seven analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $10.93.

RC has been the topic of several recent research reports. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 target price (down previously from $10.00) on shares of Ready Capital in a research note on Monday, March 4th. BTIG Research dropped their target price on shares of Ready Capital from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. UBS Group reduced their price target on Ready Capital from $10.50 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 20th. StockNews.com lowered Ready Capital from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Finally, LADENBURG THALM/SH SH lowered Ready Capital from a “buy” rating to a “neutral” rating in a research report on Friday, May 10th.

Insider Activity at Ready Capital

In related news, Director Gilbert E. Nathan acquired 10,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were bought at an average cost of $8.29 per share, with a total value of $82,900.00. Following the completion of the transaction, the director now directly owns 95,249 shares of the company’s stock, valued at $789,614.21. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. raised its position in Ready Capital by 12.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 12,970 shares of the real estate investment trust’s stock valued at $118,000 after purchasing an additional 1,455 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Ready Capital by 15.2% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,553 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 1,527 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Ready Capital by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 138,085 shares of the real estate investment trust’s stock valued at $1,261,000 after purchasing an additional 1,718 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in Ready Capital by 2.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 95,051 shares of the real estate investment trust’s stock worth $868,000 after purchasing an additional 1,992 shares in the last quarter. Finally, Wolverine Asset Management LLC lifted its stake in Ready Capital by 23.2% in the 3rd quarter. Wolverine Asset Management LLC now owns 10,605 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 55.87% of the company’s stock.

Ready Capital Stock Performance

Shares of Ready Capital stock opened at $8.55 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.76. The firm has a 50 day simple moving average of $8.50 and a 200 day simple moving average of $9.21. Ready Capital has a fifty-two week low of $7.93 and a fifty-two week high of $11.97. The firm has a market cap of $1.44 billion, a P/E ratio of 5.31 and a beta of 1.42.

Ready Capital (NYSE:RC) last released its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $232.35 million during the quarter, compared to analysts’ expectations of $64.34 million. Ready Capital had a return on equity of 8.11% and a net margin of 23.81%. During the same period last year, the firm earned $0.31 EPS. Sell-side analysts predict that Ready Capital will post 1.17 earnings per share for the current fiscal year.

Ready Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.30 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.20 annualized dividend and a yield of 14.04%. Ready Capital’s dividend payout ratio (DPR) is currently 74.53%.

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.