Shares of Ready Capital Co. (NYSE:RC - Get Free Report) have earned an average rating of "Hold" from the nine research firms that are currently covering the company, Marketbeat.com reports. One investment 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. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $7.86.
Several equities research analysts recently commented on the company. Citizens Jmp cut Ready Capital from an "outperform" rating to a "market perform" rating in a report on Monday, March 3rd. Wedbush reissued a "neutral" rating and set a $6.00 target price (down from $8.00) on shares of Ready Capital in a research note on Tuesday, March 4th. B. Riley reissued 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. JMP Securities reduced their target price on Ready Capital from $10.50 to $9.50 and set a "market outperform" rating for the company in a 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 on the stock in a report on Friday, November 15th.
View Our Latest Stock Report on Ready Capital
Insider Transactions at Ready Capital
In other news, CEO Thomas E. Capasse purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $4.80 per share, with a total value of $48,000.00. Following the purchase, the chief executive officer now owns 319,925 shares in the company, valued at $1,535,640. This represents a 3.23 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.09% of the stock is owned by insiders.
Institutional Trading of Ready Capital
A number of institutional investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. lifted its position in shares of Ready Capital by 110.2% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 22,893 shares of the real estate investment trust's stock worth $162,000 after buying an additional 12,000 shares during the last quarter. AlphaCore Capital LLC lifted its holdings in Ready Capital by 25.4% in the 4th quarter. AlphaCore Capital LLC now owns 23,024 shares of the real estate investment trust's stock worth $163,000 after purchasing an additional 4,660 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Ready Capital by 19.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 432,540 shares of the real estate investment trust's stock worth $2,950,000 after purchasing an additional 70,314 shares during the last quarter. Squarepoint Ops LLC boosted its position in Ready Capital by 11.7% during the fourth quarter. Squarepoint Ops LLC now owns 42,964 shares of the real estate investment trust's stock worth $293,000 after purchasing an additional 4,486 shares during the period. Finally, State of Wyoming acquired a new position in Ready Capital during the fourth quarter valued at approximately $1,094,000. 55.87% of the stock is currently owned by institutional investors and hedge funds.
Ready Capital Stock Up 0.9 %
RC opened at $5.06 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67. Ready Capital has a 12 month low of $4.74 and a 12 month high of $9.53. The stock's 50 day moving average price is $6.53 and its 200 day moving average price is $7.11. The stock has a market cap of $825.05 million, a P/E ratio of -7.22 and a beta of 1.43.
Ready Capital Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 annualized dividend and a yield of 9.89%. Ready Capital's dividend payout ratio (DPR) is presently -18.94%.
About Ready Capital
(
Get Free ReportReady 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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