Keefe, Bruyette & Woods Has Lowered Expectations for Ready Capital (NYSE:RC) Stock Price

Ready Capital (NYSE:RC - Free Report) had its target price trimmed by Keefe, Bruyette & Woods from $6.75 to $6.25 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an underperform rating on the real estate investment trust's stock.

Several other brokerages also recently issued reports on RC. JMP Securities lowered 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. B. Riley reaffirmed a "neutral" rating and set a $10.00 price target (down from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. Piper Sandler lowered their target price on Ready Capital from $9.50 to $8.00 and set a "neutral" rating for the company in a research note on Monday, September 16th. Finally, UBS Group reduced their target price on Ready Capital from $8.50 to $7.50 and set a "neutral" rating for the company in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Ready Capital presently has an average rating of "Hold" and a consensus target price of $8.61.

Ready Capital Stock Up 0.5 %

NYSE:RC traded up $0.03 during mid-day trading on Tuesday, hitting $6.63. The company had a trading volume of 1,514,853 shares, compared to its average volume of 1,997,468. Ready Capital has a 1 year low of $6.45 and a 1 year high of $10.02. The business has a fifty day simple moving average of $7.17 and a 200-day simple moving average of $7.77. 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 firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -9.47 and a beta of 1.43.

Ready Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 15.08%. Ready Capital's dividend payout ratio (DPR) is -142.86%.

Institutional Trading of Ready Capital

A number of institutional investors and hedge funds have recently modified their holdings of RC. Victory Capital Management Inc. boosted its position in Ready Capital by 2.2% during the 2nd quarter. Victory Capital Management Inc. now owns 63,699 shares of the real estate investment trust's stock valued at $521,000 after purchasing an additional 1,375 shares during the period. Choreo LLC bought a new stake in Ready Capital in the second quarter valued at $91,000. Public Sector Pension Investment Board boosted its holdings in shares of Ready Capital by 5.3% during the second quarter. Public Sector Pension Investment Board now owns 341,865 shares of the real estate investment trust's stock valued at $2,796,000 after acquiring an additional 17,279 shares during the period. Xponance Inc. acquired a new position in shares of Ready Capital during the second quarter valued at $84,000. Finally, Marshall Wace LLP bought a new position in shares of Ready Capital during the second quarter worth about $514,000. 55.87% of the stock is owned by institutional investors and hedge funds.

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.