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 an average rating of "Hold" from the eight ratings firms that are covering the stock, MarketBeat.com 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 twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.04.

Several analysts have recently commented on RC shares. Keefe, Bruyette & Woods decreased their target price on Ready Capital from $8.00 to $7.75 and set an "underperform" rating for the company in a research report on Monday, August 12th. Piper Sandler reduced their price target on Ready Capital from $9.50 to $8.00 and set a "neutral" rating for the company in a research report on Monday, September 16th. Wedbush reaffirmed a "neutral" rating and issued a $9.00 price target on shares of Ready Capital in a research report on Monday, August 12th. Finally, UBS Group dropped their price objective on Ready Capital from $8.50 to $7.50 and set a "neutral" rating on the stock in a research note on Friday, November 15th.

Institutional Investors Weigh In On Ready Capital

Several large investors have recently modified their holdings of RC. HB Wealth Management LLC lifted its holdings in Ready Capital by 3.4% during the 2nd quarter. HB Wealth Management LLC now owns 33,216 shares of the real estate investment trust's stock worth $272,000 after buying an additional 1,101 shares in the last quarter. Victory Capital Management Inc. lifted its holdings 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 worth $521,000 after buying an additional 1,375 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in Ready Capital by 12.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 12,970 shares of the real estate investment trust's stock worth $118,000 after buying an additional 1,455 shares in the last quarter. CWM LLC lifted its holdings in Ready Capital by 94.6% during the 2nd quarter. CWM LLC now owns 3,361 shares of the real estate investment trust's stock worth $27,000 after buying an additional 1,634 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in Ready Capital by 4.0% during the 3rd quarter. Louisiana State Employees Retirement System now owns 81,300 shares of the real estate investment trust's stock worth $620,000 after buying an additional 3,100 shares in the last quarter. 55.87% of the stock is currently owned by institutional investors.

Ready Capital Trading Down 4.5 %

Shares of NYSE RC traded down $0.34 during mid-day trading on Tuesday, reaching $7.23. The company had a trading volume of 2,188,648 shares, compared to its average volume of 1,548,865. 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 50-day moving average price of $7.22 and a two-hundred day moving average price of $8.04. Ready Capital has a 1-year low of $6.65 and a 1-year high of $11.67.

Ready Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a $0.25 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 13.83%. Ready Capital's dividend payout ratio is currently -142.86%.

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.