Shares of Ready Capital Co. (NYSE:RC - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $6.64 and last traded at $6.66, with a volume of 1302319 shares trading hands. The stock had previously closed at $6.86.
Wall Street Analyst Weigh In
RC has been the topic of several research analyst reports. B. Riley reaffirmed a "neutral" rating and set a $10.00 price objective (down previously from $12.00) on shares of Ready Capital in a research note on Tuesday. Piper Sandler dropped their price target on Ready Capital from $9.50 to $8.00 and set a "neutral" rating on the stock in a research report on Monday, September 16th. UBS Group decreased 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. Finally, JMP Securities lowered their target price on Ready Capital from $10.50 to $9.50 and set a "market outperform" rating for the company in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Ready Capital has an average rating of "Hold" and a consensus price target of $8.82.
Get Our Latest Analysis on Ready Capital
Ready Capital Price Performance
The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -9.50 and a beta of 1.43. The company's fifty day moving average is $7.18 and its 200 day moving average is $7.82. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54.
Ready Capital Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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 yield of 15.04%. Ready Capital's dividend payout ratio is -142.86%.
Institutional Investors Weigh In On Ready Capital
A number of institutional investors and hedge funds have recently made changes to their positions in RC. Barclays PLC boosted its stake in shares of Ready Capital by 205.9% during the 3rd quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust's stock worth $3,699,000 after acquiring an additional 326,467 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Ready Capital by 11.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,580 shares of the real estate investment trust's stock valued at $14,257,000 after purchasing an additional 195,663 shares during the last quarter. Clear Harbor Asset Management LLC lifted its stake in shares of Ready Capital by 84.0% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 1,440,250 shares of the real estate investment trust's stock worth $10,989,000 after buying an additional 657,465 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 150,479 shares during the period. Finally, Wolverine Asset Management LLC raised its holdings in Ready Capital by 2,902.2% in the 3rd quarter. Wolverine Asset Management LLC now owns 402,291 shares of the real estate investment trust's stock valued at $3,069,000 after acquiring an additional 388,891 shares during the period. Institutional investors own 55.87% of the company's stock.
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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