Ready Capital Co. (NYSE:RC) Declares Quarterly Dividend of $0.13

Ready Capital Co. (NYSE:RC) announced a quarterly dividend on Monday, March 3rd, RTT News reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.125 per share by the real estate investment trust on Wednesday, April 30th. This represents a $0.50 dividend on an annualized basis and a yield of 9.88%.

Ready Capital has decreased its dividend payment by an average of 16.4% per year over the last three years. Ready Capital has a dividend payout ratio of 105.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Ready Capital to earn $1.05 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 95.2%.

Ready Capital Stock Down 27.0 %

NYSE RC opened at $5.06 on Tuesday. Ready Capital has a 1-year low of $4.78 and a 1-year high of $9.53. The stock’s 50 day moving average is $6.83 and its two-hundred day moving average is $7.27. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $852.77 million, a price-to-earnings ratio of -7.23 and a beta of 1.43.

Analysts Set New Price Targets

Several research firms recently weighed in on RC. JMP Securities dropped their price objective on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research report on Thursday, December 12th. Citizens Jmp cut shares of Ready Capital from an “outperform” rating to a “market perform” rating in a research report on Monday. Keefe, Bruyette & Woods dropped their target price on shares of Ready Capital from $6.75 to $6.25 and set an “underperform” rating for the company in a research report on Tuesday, January 14th. UBS Group decreased their price target on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Friday, November 15th. Finally, B. Riley reissued a “neutral” rating and issued a $10.00 price target (down previously from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $8.61.

About Ready Capital

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.