Ready Capital Co. (NYSE:RC - Get Free Report)'s share price reached a new 52-week low during trading on Monday . The stock traded as low as $6.87 and last traded at $6.88, with a volume of 379877 shares trading hands. The stock had previously closed at $6.87.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on RC shares. Keefe, Bruyette & Woods reduced their price objective on Ready Capital from $8.00 to $7.75 and set an "underperform" rating for the company in a research note on Monday, August 12th. BTIG Research assumed coverage on Ready Capital in a research note on Friday, July 19th. They issued a "neutral" rating for the company. Piper Sandler reduced their price objective 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, Wedbush reaffirmed a "neutral" rating and set a $9.00 price target on shares of Ready Capital in a research report on Monday, August 12th. One 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 company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $9.38.
View Our Latest Report on Ready Capital
Ready Capital Trading Up 0.6 %
The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $7.73 and a two-hundred day simple moving average of $8.31. The firm has a market cap of $1.16 billion, a PE ratio of 4.29 and a beta of 1.41.
Ready Capital (NYSE:RC - Get Free Report) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.19). The firm had revenue of $234.12 million during the quarter, compared to analysts' expectations of $61.77 million. Ready Capital had a negative net margin of 5.67% and a positive return on equity of 7.32%. During the same quarter in the previous year, the business earned $0.35 EPS. Equities analysts forecast that Ready Capital Co. will post 0.98 EPS for the current year.
Ready Capital Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 14.47%. The ex-dividend date of this dividend is Monday, September 30th. Ready Capital's payout ratio is currently 62.11%.
Institutional Trading of Ready Capital
Several hedge funds have recently bought and sold shares of RC. CWM LLC lifted its position in shares of Ready Capital by 94.6% in the second quarter. CWM LLC now owns 3,361 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 1,634 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Ready Capital in the first quarter valued at about $40,000. Naviter Wealth LLC purchased a new position in shares of Ready Capital in the first quarter valued at about $94,000. Cadence Bank purchased a new position in shares of Ready Capital in the first quarter valued at about $91,000. Finally, Xponance Inc. purchased a new position in shares of Ready Capital in the second quarter valued at about $84,000. Institutional investors own 55.87% of the company's stock.
Ready Capital Company Profile
(
Get Free Report)
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.
Further Reading
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