Ready Capital (NYSE:RC) Hits New 1-Year Low – Should You Sell?

Ready Capital Co. (NYSE:RC) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $6.41 and last traded at $6.54, with a volume of 462799 shares traded. The stock had previously closed at $6.65.

Analyst Ratings Changes

Several analysts recently issued reports on the company. B. Riley reissued a “neutral” rating and issued a $10.00 price target (down previously from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. Keefe, Bruyette & Woods lowered their target price on shares of Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a research note on Tuesday, January 14th. JMP Securities lowered their target price on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a report on Thursday, December 12th. Finally, UBS Group lowered their price objective on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Friday, November 15th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.61.

Ready Capital Price Performance

The company has a market cap of $1.13 billion, a PE ratio of -9.61 and a beta of 1.43. The stock has a fifty day moving average price of $7.04 and a 200-day moving average price of $7.55. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67.

Ready Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.87%. The ex-dividend date of this dividend was Tuesday, December 31st. Ready Capital’s dividend payout ratio (DPR) is -142.86%.

Institutional Trading of Ready Capital

Institutional investors have recently bought and sold shares of the company. Avion Wealth acquired a new position in shares of Ready Capital during the 4th quarter worth $47,000. KBC Group NV increased its position in 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 worth $63,000 after buying an additional 3,248 shares during the last quarter. Ieq Capital LLC bought a new position in Ready Capital during the fourth quarter valued at about $99,000. Modera Wealth Management LLC acquired a new stake in shares of Ready Capital in the third quarter worth about $107,000. Finally, Fisher Asset Management LLC bought a new stake in shares of Ready Capital during the 3rd quarter worth about $116,000. Institutional investors and hedge funds 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.