Ready Capital's (RC) "Neutral" Rating Reaffirmed at B. Riley

B. Riley reiterated their neutral rating on shares of Ready Capital (NYSE:RC - Free Report) in a report issued on Tuesday morning, MarketBeat Ratings reports. B. Riley currently has a $10.00 target price on the real estate investment trust's stock, down from their previous target price of $12.00.

Other research analysts have also recently issued reports about the company. UBS Group dropped their target price on Ready Capital from $8.50 to $7.50 and set a "neutral" rating on the stock in a research report on Friday, November 15th. Piper Sandler dropped their price objective on shares of Ready Capital from $9.50 to $8.00 and set a "neutral" rating on the stock in a report on Monday, September 16th. Finally, JMP Securities reduced their target price on shares of Ready Capital from $10.50 to $9.50 and set a "market outperform" rating for the company in a report on Thursday, December 12th. One 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. According to MarketBeat, Ready Capital presently has an average rating of "Hold" and a consensus target price of $8.82.

Ready Capital Stock Performance

RC stock traded down $0.11 on Tuesday, hitting $6.86. The company had a trading volume of 3,120,810 shares, compared to its average volume of 1,893,719. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -9.80 and a beta of 1.43. 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 stock's 50-day simple moving average is $7.18 and its 200 day simple moving average is $7.82. Ready Capital has a 12-month low of $6.65 and a 12-month high of $10.36.

Ready Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.58%. Ready Capital's dividend payout ratio (DPR) is presently -142.86%.

Institutional Investors Weigh In On Ready Capital

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in Ready Capital by 3.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,189,988 shares of the real estate investment trust's stock valued at $9,734,000 after purchasing an additional 38,371 shares during the period. Victory Capital Management Inc. raised its position in shares of Ready Capital by 2.2% during the second quarter. Victory Capital Management Inc. now owns 63,699 shares of the real estate investment trust's stock valued at $521,000 after buying an additional 1,375 shares during the last quarter. Norden Group LLC lifted its holdings in shares of Ready Capital by 25.6% in the second quarter. Norden Group LLC now owns 23,002 shares of the real estate investment trust's stock worth $188,000 after buying an additional 4,693 shares in the last quarter. Choreo LLC purchased a new position in shares of Ready Capital in the second quarter worth $91,000. Finally, Public Sector Pension Investment Board boosted its position in shares of Ready Capital by 5.3% during the second quarter. Public Sector Pension Investment Board now owns 341,865 shares of the real estate investment trust's stock worth $2,796,000 after acquiring an additional 17,279 shares during the last quarter. 55.87% of the stock is owned by institutional investors.

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.