Ready Capital Co. (NYSE:RC) Given Average Rating of "Hold" by Brokerages

Shares of Ready Capital Co. (NYSE:RC - Get Free Report) have been assigned a consensus rating of "Hold" from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $8.61.

Several research firms have recently commented on RC. JMP Securities decreased their price target on shares of Ready Capital from $10.50 to $9.50 and set a "market outperform" rating on the stock in a research note on Thursday, December 12th. Keefe, Bruyette & Woods lowered their target price on Ready Capital from $6.75 to $6.25 and set an "underperform" rating for the company in a research note on Tuesday, January 14th. B. Riley reaffirmed a "neutral" rating and set a $10.00 price target (down previously from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. Finally, UBS Group lowered their price objective on Ready Capital from $8.50 to $7.50 and set a "neutral" rating for the company in a research report on Friday, November 15th.

Ready Capital Price Performance

Ready Capital stock traded down $0.20 on Wednesday, reaching $6.85. The company's stock had a trading volume of 1,337,578 shares, compared to its average volume of 1,903,160. The business's fifty day moving average price is $7.13 and its 200 day moving average price is $7.70. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -9.78 and a beta of 1.43. Ready Capital has a twelve month low of $6.45 and a twelve month high of $9.98.

Ready Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 14.61%. The ex-dividend date of this dividend is Tuesday, December 31st. Ready Capital's payout ratio is -142.86%.

Institutional Trading of Ready Capital

Large investors have recently made changes to their positions in the company. KBC Group NV boosted its holdings in shares of Ready Capital by 64.1% in the third quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust's stock valued at $63,000 after buying an additional 3,248 shares during the period. Xponance Inc. acquired a new position in Ready Capital in the 2nd quarter worth $84,000. Modera Wealth Management LLC bought a new position in Ready Capital during the 3rd quarter worth about $107,000. Fisher Asset Management LLC acquired a new stake in shares of Ready Capital in the 3rd quarter valued at about $116,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Ready Capital in the second quarter valued at about $126,000. Institutional investors own 55.87% of the company's stock.

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.