Ready Capital’s (RC) “Neutral” Rating Reiterated at Wedbush

Wedbush restated their neutral rating on shares of Ready Capital (NYSE:RC) in a report issued on Tuesday morning,RTT News reports. They currently have a $6.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $8.00. Wedbush also issued estimates for Ready Capital’s Q1 2025 earnings at $0.12 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.15 EPS, Q4 2025 earnings at $0.17 EPS, FY2025 earnings at $0.59 EPS and FY2026 earnings at $0.76 EPS.

A number of other brokerages have also recently issued reports on RC. JMP Securities dropped 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. UBS Group dropped 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. Citizens Jmp cut shares of Ready Capital from an “outperform” rating to a “market perform” rating in a report on Monday. Keefe, Bruyette & Woods dropped their target price on shares of Ready Capital from $6.75 to $6.25 and set an “underperform” rating for the company in a report on Tuesday, January 14th. 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 report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.86.

Ready Capital Trading Up 0.7 %

Shares of Ready Capital stock opened at $5.00 on Tuesday. Ready Capital has a 52-week low of $4.74 and a 52-week high of $9.53. 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 company’s 50-day simple moving average is $6.68 and its 200-day simple moving average is $7.21. The firm has a market cap of $841.81 million, a price-to-earnings ratio of -7.14 and a beta of 1.43.

Ready Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 10.01%. Ready Capital’s dividend payout ratio (DPR) is -142.86%.

Insider Transactions at Ready Capital

In other news, CEO Thomas E. Capasse bought 10,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was purchased at an average cost of $4.80 per share, with a total value of $48,000.00. Following the purchase, the chief executive officer now owns 319,925 shares of the company’s stock, valued at approximately $1,535,640. The trade was a 3.23 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.09% of the company’s stock.

Institutional Trading of Ready Capital

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sterling Capital Management LLC grew its stake in Ready Capital by 822.8% in the 4th quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 4,616 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of Ready Capital by 3,075.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 6,150 shares during the last quarter. Avion Wealth acquired a new position in shares of Ready Capital in the 4th quarter valued at $47,000. KBC Group NV boosted its holdings in shares of Ready Capital by 64.1% in the 3rd quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 3,248 shares during the last quarter. Finally, Ausdal Financial Partners Inc. acquired a new position in shares of Ready Capital in the 4th quarter valued at $68,000. 55.87% of the stock is owned by hedge funds and other institutional investors.

About Ready Capital

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.