Brokerages Set Ready Capital Corp (NYSE:RC) Target Price at $2.81

Shares of Ready Capital Corp (NYSE:RC) have been given a consensus recommendation of “Reduce” by the six research firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $2.8125.

Several analysts have commented on the company. Piper Sandler reduced their price objective on Ready Capital from $2.50 to $2.00 and set a “neutral” rating for the company in a research note on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ready Capital in a research note on Thursday, January 22nd.

Ready Capital Price Performance

Shares of NYSE RC opened at $1.73 on Tuesday. Ready Capital has a twelve month low of $1.50 and a twelve month high of $4.75. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.95. The stock has a market cap of $286.00 million, a P/E ratio of -0.54 and a beta of 1.47. The stock has a 50 day moving average of $1.74 and a two-hundred day moving average of $2.09.

Ready Capital (NYSE:RC) last issued its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.18). Ready Capital had a negative return on equity of 14.69% and a negative net margin of 102.10%.The business had revenue of $130.55 million for the quarter, compared to analysts’ expectations of $68.67 million. On average, research analysts forecast that Ready Capital will post -1.24 earnings per share for the current year.

Ready Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Tuesday, March 31st were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Tuesday, March 31st. Ready Capital’s dividend payout ratio (DPR) is -1.26%.

Insider Transactions at Ready Capital

In other news, Director Gilbert E. Nathan purchased 30,000 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average cost of $1.95 per share, with a total value of $58,500.00. Following the completion of the acquisition, the director directly owned 216,358 shares of the company’s stock, valued at approximately $421,898.10. This trade represents a 16.10% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RC. Alpine Global Management LLC purchased a new stake in shares of Ready Capital in the fourth quarter valued at approximately $190,000. Aristides Capital LLC purchased a new stake in shares of Ready Capital in the fourth quarter valued at approximately $189,000. Green Ridge Wealth Planning LLC purchased a new stake in shares of Ready Capital in the fourth quarter valued at approximately $32,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Ready Capital in the fourth quarter valued at approximately $27,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Ready Capital by 135.1% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 82,410 shares of the real estate investment trust’s stock valued at $180,000 after buying an additional 47,350 shares in the last quarter. 55.87% of the stock is owned by hedge funds and other institutional investors.

About Ready Capital

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.