Ready Capital Co. (NYSE:RC - Get Free Report) declared a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.25 per share by the real estate investment trust on Friday, January 31st. This represents a $1.00 annualized dividend and a dividend yield of 13.35%. The ex-dividend date is Tuesday, December 31st.
Ready Capital has increased its dividend payment by an average of 61.0% per year over the last three years. Ready Capital has a dividend payout ratio of 94.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Equities analysts expect Ready Capital to earn $1.07 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 93.5%.
Ready Capital Stock Down 0.3 %
NYSE:RC traded down $0.02 during mid-day trading on Tuesday, hitting $7.49. The company had a trading volume of 2,567,750 shares, compared to its average volume of 1,563,152. Ready Capital has a 1 year low of $6.65 and a 1 year high of $11.11. The business has a fifty day simple moving average of $7.18 and a 200-day simple moving average of $7.97. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -10.64 and a beta of 1.43.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on RC shares. UBS Group decreased their price target on Ready Capital from $8.50 to $7.50 and set a "neutral" rating for the company in a research note on Friday, November 15th. Piper Sandler lowered their price target on Ready Capital from $9.50 to $8.00 and set a "neutral" rating for the company in a report on Monday, September 16th. Finally, JMP Securities reduced their price objective on 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $9.11.
Check Out Our Latest Report on RC
Ready Capital Company Profile
(
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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.
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