Ready Capital (NYSE:RC) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Ready Capital (NYSE:RC) from a hold rating to a strong sell rating in a research report released on Monday morning,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Ready Capital in a research report on Tuesday, June 2nd. Three analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $2.81.

Ready Capital Trading Up 1.5%

NYSE:RC opened at $1.69 on Monday. The stock has a market cap of $278.40 million, a PE ratio of -0.53 and a beta of 1.43. Ready Capital has a fifty-two week low of $1.50 and a fifty-two week high of $4.73. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.60 and a quick ratio of 1.60. The stock’s 50-day moving average is $1.77 and its two-hundred day moving average is $1.86.

Ready Capital (NYSE:RC) last posted its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $130.55 million during the quarter, compared to analysts’ expectations of $68.67 million. As a group, equities research analysts forecast that Ready Capital will post -0.94 earnings per share for the current fiscal year.

Ready Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.4%. Ready Capital’s dividend payout ratio (DPR) is -1.26%.

Institutional Investors Weigh In On Ready Capital

Large investors have recently made changes to their positions in the company. Quantum Portfolio Management LLC bought a new stake in Ready Capital in the first quarter worth $84,956,000. Private Management Group Inc. lifted its position in shares of Ready Capital by 197.0% in the fourth quarter. Private Management Group Inc. now owns 4,806,088 shares of the real estate investment trust’s stock worth $10,477,000 after buying an additional 3,188,135 shares during the last quarter. UBS Group AG lifted its position in shares of Ready Capital by 161.4% in the fourth quarter. UBS Group AG now owns 3,155,403 shares of the real estate investment trust’s stock worth $6,879,000 after buying an additional 1,948,208 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Ready Capital during the 2nd quarter worth about $6,542,000. Finally, Invesco Ltd. increased its holdings in shares of Ready Capital by 21.2% during the 3rd quarter. Invesco Ltd. now owns 4,239,678 shares of the real estate investment trust’s stock valued at $16,408,000 after acquiring an additional 742,226 shares during the last quarter. Institutional investors own 55.87% of the company’s stock.

Ready Capital Company Profile

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.