Ready Capital Co. (NYSE:RC - Get Free Report)'s stock price hit a new 52-week low on Tuesday . The stock traded as low as $6.45 and last traded at $6.61, with a volume of 1253510 shares trading hands. The stock had previously closed at $6.56.
Wall Street Analyst Weigh In
A number of research firms have commented on RC. JMP Securities decreased their target price on Ready Capital from $10.50 to $9.50 and set a "market outperform" rating on the stock in a research report on Thursday, December 12th. Piper Sandler reduced their price target on Ready Capital from $9.50 to $8.00 and set a "neutral" rating on the stock in a research note on Monday, September 16th. UBS Group lowered their target price on shares of Ready Capital from $8.50 to $7.50 and set a "neutral" rating for the company in a report on Friday, November 15th. Keefe, Bruyette & Woods cut their price objective on Ready Capital from $6.75 to $6.25 and set an "underperform" rating on the stock in a report on Tuesday. Finally, B. Riley restated a "neutral" rating and set a $10.00 target price (down previously from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $8.61.
Check Out Our Latest Stock Analysis on RC
Ready Capital Price Performance
The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The stock's 50 day moving average price is $7.17 and its two-hundred day moving average price is $7.77. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -9.37 and a beta of 1.43.
Ready Capital Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 15.24%. The ex-dividend date is Tuesday, December 31st. Ready Capital's payout ratio is presently -142.86%.
Hedge Funds Weigh In On Ready Capital
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RC. Victory Capital Management Inc. grew its stake in shares of Ready Capital by 2.2% in the second quarter. Victory Capital Management Inc. now owns 63,699 shares of the real estate investment trust's stock worth $521,000 after acquiring an additional 1,375 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Ready Capital by 4.0% in the third quarter. Louisiana State Employees Retirement System now owns 81,300 shares of the real estate investment trust's stock worth $620,000 after purchasing an additional 3,100 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Ready Capital by 2.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 132,098 shares of the real estate investment trust's stock worth $1,008,000 after buying an additional 3,123 shares during the period. KBC Group NV lifted its holdings in shares of Ready Capital by 64.1% during the third quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust's stock valued at $63,000 after acquiring an additional 3,248 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ready Capital by 12.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,682 shares of the real estate investment trust's stock valued at $326,000 after buying an additional 4,729 shares in the last quarter. Institutional investors and hedge funds own 55.87% of the company's stock.
Ready Capital Company Profile
(
Get Free Report)
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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