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

Ready Capital Co. (NYSE:RC - Get Free Report) has been given an average recommendation of "Hold" by the eight ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $9.11.

Several research firms have recently weighed in on RC. Piper Sandler lowered their price objective on shares of Ready Capital from $9.50 to $8.00 and set a "neutral" rating on the stock in a research note on Monday, September 16th. JMP Securities lowered their price target on Ready Capital from $10.50 to $9.50 and set a "market outperform" rating on the stock in a research report on Thursday, December 12th. Finally, UBS Group cut 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 Stock Down 4.1 %

NYSE:RC traded down $0.30 on Friday, hitting $7.05. 1,861,294 shares of the company's stock were exchanged, compared to its average volume of 1,592,464. The firm has a 50-day moving average price of $7.19 and a 200-day moving average price of $7.90. Ready Capital has a 52 week low of $6.65 and a 52 week high of $10.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67. The company has a market cap of $1.19 billion, a P/E ratio of -10.07 and a beta of 1.43.

Ready Capital Announces Dividend

The business 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 $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 14.18%. The ex-dividend date is Tuesday, December 31st. Ready Capital's payout ratio is -142.86%.

Hedge Funds Weigh In On Ready Capital

Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Ready Capital by 4.8% during the third quarter. State Street Corp now owns 6,315,147 shares of the real estate investment trust's stock worth $49,746,000 after purchasing an additional 287,068 shares during the period. Geode Capital Management LLC raised its holdings in Ready Capital by 4.1% during 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 purchasing an additional 150,479 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in 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 worth $14,257,000 after buying an additional 195,663 shares during the last quarter. Clear Harbor Asset Management LLC lifted its holdings in Ready Capital by 84.0% in 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 buying an additional 657,465 shares during the period. Finally, Van ECK Associates Corp grew its stake in Ready Capital by 1.8% during the third quarter. Van ECK Associates Corp now owns 1,366,040 shares of the real estate investment trust's stock worth $9,508,000 after purchasing an additional 23,970 shares during the period. Institutional investors and hedge funds own 55.87% of the company's stock.

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.