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

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 covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $8.61.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Barclays PLC grew its position in shares of Ready Capital by 205.9% in the 3rd quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust's stock worth $3,699,000 after buying an additional 326,467 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Ready Capital by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,580 shares of the real estate investment trust's stock valued at $14,257,000 after purchasing an additional 195,663 shares in the last quarter. Clear Harbor Asset Management LLC lifted its holdings in shares of Ready Capital by 84.0% during the third quarter. Clear Harbor Asset Management LLC now owns 1,440,250 shares of the real estate investment trust's stock valued at $10,989,000 after purchasing an additional 657,465 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Ready Capital by 50.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 336,773 shares of the real estate investment trust's stock worth $2,570,000 after purchasing an additional 112,934 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Ready Capital by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust's stock worth $29,292,000 after buying an additional 150,479 shares during the last quarter. Hedge funds and other institutional investors own 55.87% of the company's stock.

Ready Capital Price Performance

Shares of Ready Capital stock traded up $0.01 during trading on Friday, hitting $6.86. 2,243,437 shares of the stock traded hands, compared to its average volume of 1,887,570. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -9.79 and a beta of 1.43. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. Ready Capital has a 52 week low of $6.39 and a 52 week high of $9.53. The firm's fifty day moving average is $6.92 and its 200-day moving average is $7.39.

Ready Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.59%. Ready Capital's dividend payout ratio is currently -142.86%.

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.