Ready Capital Co. (NYSE:RC) Receives $7.86 Consensus Target Price from Analysts

Ready Capital Co. (NYSE:RC) has been given a consensus recommendation of “Hold” by the nine research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $7.50.

RC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods decreased their target price on Ready Capital from $6.25 to $4.00 and set an “underperform” rating for the company in a research report on Wednesday, March 5th. Citizens Jmp lowered Ready Capital from an “outperform” rating to a “market perform” rating in a research report on Monday, March 3rd. UBS Group decreased their target price on Ready Capital from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Friday. JMP Securities decreased their target price on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research report on Thursday, December 12th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $10.00 target price (down from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th.

Ready Capital Stock Down 0.5 %

Shares of NYSE:RC opened at $4.99 on Thursday. The company has a market capitalization of $813.31 million, a price-to-earnings ratio of -7.12 and a beta of 1.43. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67. The business’s 50-day moving average is $6.42 and its 200-day moving average is $7.04. Ready Capital has a 1 year low of $4.74 and a 1 year high of $9.54.

Ready Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 annualized dividend and a yield of 10.03%. Ready Capital’s payout ratio is -18.94%.

Insider Activity at Ready Capital

In related news, insider Adam Zausmer bought 10,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $5.42 per share, for a total transaction of $54,200.00. Following the completion of the transaction, the insider now directly owns 301,105 shares in the company, valued at approximately $1,631,989.10. The trade was a 3.44 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ready Capital

Institutional investors have recently made changes to their positions in the stock. Shorepoint Capital Partners LLC increased its holdings in shares of Ready Capital by 2.4% in the fourth quarter. Shorepoint Capital Partners LLC now owns 64,500 shares of the real estate investment trust’s stock worth $440,000 after purchasing an additional 1,500 shares during the period. Dorsey & Whitney Trust CO LLC increased its holdings in shares of Ready Capital by 3.6% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 44,038 shares of the real estate investment trust’s stock worth $300,000 after purchasing an additional 1,543 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Ready Capital by 18.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,193 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 2,328 shares during the period. HighTower Advisors LLC increased its holdings in shares of Ready Capital by 3.9% in the fourth quarter. HighTower Advisors LLC now owns 76,803 shares of the real estate investment trust’s stock worth $524,000 after purchasing an additional 2,917 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Ready Capital by 2.4% in the third quarter. Thrivent Financial for Lutherans now owns 132,098 shares of the real estate investment trust’s stock worth $1,008,000 after purchasing an additional 3,123 shares during the period. Hedge funds and other institutional investors own 55.87% of the company’s stock.

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.